Losses are coming. European banks, bracing for rising interest rates, bolster their cash reserves against potential loan defaults. Barclays, in the UK, earmarked £896 million in H1, while Germany’s Deutsche Bank saw a 72% rise in loan loss provisions at €401 million in Q2. Meanwhile, Spain’s Santander increased its loan provisions by 21%. High inflation in Europe strains household budgets. Recent rate hikes by the European Central Bank and the Bank of England hinder economic growth, pushing euro nations towards recession. San Francisco’s record office vacancies signal broader economic woes. Jonas Goltermann of Capital Economics points to significant concerns in the commercial real estate sector. The European Central Bank’s interest rate stands at 3.75%, its highest since 2000, and the UK’s Bank of England reached 5% in June. Consequently, UK mortgage holders face surging rates, with over 2 million prepping for bigger monthly payments due to refinancing. #defaults #Banks #InterestRates #bankrupt #Recession #ECB #federalreserve #RealEstate
Bracing For Wave of Defaults 0:00
Cash Strapped Consumer 11:38
Case Study 16:15
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