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Friday, October 14, 2022 10:58:06 AM
Citigroup expects $110 million loss on leveraged loans in 3Q - CFO
By: Investing.com | October 14, 2022
NEW YORK (Reuters) - Citigroup (NYSE:C) took a $110 million writedown on leveraged loans in the third quarter, its chief financial Mark Mason said on Friday.
"We took about $110 million in total between markdowns and losses on loans in the leverage space," Mason told reporters after earnings were released.
U.S. banks wrote down $1 billion on leveraged and bridge loans in the second-quarter as rising interest rates made it tougher for them to offload high-risk debt onto investors and other lenders.
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By: Investing.com | October 14, 2022
NEW YORK (Reuters) - Citigroup (NYSE:C) took a $110 million writedown on leveraged loans in the third quarter, its chief financial Mark Mason said on Friday.
"We took about $110 million in total between markdowns and losses on loans in the leverage space," Mason told reporters after earnings were released.
U.S. banks wrote down $1 billion on leveraged and bridge loans in the second-quarter as rising interest rates made it tougher for them to offload high-risk debt onto investors and other lenders.
Read Full Story »»»
DiscoverGold
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