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Credit

SPY

Federal Reserve Chairman Jerome Powell emphasized the critical importance of banks being willing and able to use the discount window. He noted that one reason banks hesitate to borrow at the discount window is the public disclosure of their names, albeit with a lag.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 3:31 pm

KBE

KRE

SPY

XLF

Federal Reserve Chair Jerome Powell stated that the reverse repo facility has shrunk since March and does not account for the decline in bank deposits.

Portfolio Pulse from Happy Mohamed

June 22, 2023 | 3:26 pm

SPY

Federal Reserve Chair Jerome Powell stated that any further increases in capital requirements for large banks would need to be justified, potentially easing concerns about stricter regulations.

Portfolio Pulse from Happy Mohamed

June 22, 2023 | 2:53 pm

KBE

KRE

SPY

XLF

Federal Reserve Chair Jerome Powell announced that the Fed may raise capital requirements for big banks by 20%, potentially affecting the financial sector and related ETFs.

Portfolio Pulse from Happy Mohamed

June 22, 2023 | 2:47 pm

KBE

KRE

SIVBQ

SPY

XLF

Fed Chair Powell stated that there may be some capital increases on banks down to $100B, but not below that, emphasizing the tradeoff between availability of capital and credit, and safety.

Portfolio Pulse from Happy Mohamed

June 22, 2023 | 2:29 pm

SHFS

Safe Harbor Financial (NASDAQ:SHFS) has expanded its lending and deposit relationship with a cannabis multi-state operator by originating an additional first lien-secured loan of approximately $2.9 million on a cultivation facility. This follows the origination of four commercial real estate-backed loans for subsidiaries of a tier-one MSO in May.

Portfolio Pulse from Vuk Zdinjak

June 22, 2023 | 1:19 pm

EBET

CP BF Lending provided Ebet Inc with a limited waiver of some minimum liquidity, financial, and other covenants until June 30, 2023. Ebet does not expect to satisfy the covenants prior to June 30 and will not receive any further waivers.

Portfolio Pulse from Happy Mohamed

June 22, 2023 | 1:08 pm

F

Ford and SK Innovation's joint venture, BlueOvalSK, is set to receive a $9.2 billion government loan for battery plants in Kentucky and Tennessee, according to the Energy Department.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 12:17 pm

NRG

NRG Energy plans to reduce its debt by up to $2.55 billion to achieve its target investment grade credit metrics of 2.5x to 2.75x net debt/adjusted corporate EBITDA by 2025.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 11:41 am

STNG

Scorpio Tankers (STNG) has received a commitment from DekaBank Deutsche Girozentrale for a credit facility of up to $94 million. The funds will be used to finance one MR product tanker and three LR2 product tankers, with a final maturity of five years from the drawdown date of each vessel.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 10:37 am