Periods of significant loan defaults are tough on banks and force unpleasant choices. Here are steps to evaluate collateral in such uncertain times.
Even after the Fed eased some limitations in April to promote emergency lending, the bank has had to make some “tough choices” to heed the $1.95 trillion growth ceiling set by regulators in the aftermath of its phony-accounts scandal.
The Bonadio Group, a Top 100 Firm based in Rochester, New York, began returning to its offices this week as the stay-at-home order to combat the spread of the coronavirus was lifted in some parts of the state.
The takeaway from the PPP rollout is that bankers must protect their reputations and limit their risk appetites as they participate in further government-backed rescue programs.
Banks would be wise to dust off their Great Recession playbook and shed nonperforming loans while growing through M&A.
Despite the coronavirus, firms can’t afford to stop looking for prospects
This year all playbooks have to be discarded and a fresh start needs to be developed.
Every firm and many businesses are going through a crisis like none that anyone could foresee, or one that any of us have had to ever navigate before.
Business operations need cash influxes now more than ever.
But relatively few audit execs are actually performing reviews of critical risk areas such as health and safety.