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0.00106044538706251 0.00477200424178143 0.00148462354188745 0.00318133616118767 0.0233297985153763 0.0336161187698832 0.0783669141039236 0.0703605514316012
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Exclusive: JPMorgan looking to offload Saudi and UAE sovereign fund loans - sources [Reuters]

JP Morgan Chase & Co. (JPM) 
Last jp morgan chase & co. earnings: 4/14 06:43 am Check Earnings Report
Company Research Source: Reuters
Exclusive: JPMorgan looking to offload Saudi and UAE sovereign fund loans - sources DUBAI (Reuters) - JPMorgan ( JPM.N ) is seeking to sell at a discount loans raised by the sovereign wealth funds of Saudi Arabia and the United Arab Emirates, according to two sources and a document, as banks brace for a borrowing spree in the Gulf due to low oil prices. Banks tend to hold loans they grant to Gulf governments in their portfolios, only selling down their exposure quietly through bilateral transactions as they don’t want to be seen as dumping the paper in the market, two banking sources said. This helps them maintain good relationships with the borrowers in light of future funding requests, but with loans raised by oil-rich Gulf states generally trading at par value, there are also few incentives for other banks to buy them in the secondary market. However, as Gulf government and state entities seek to raise funds after the recent plunge in oil prices and the coronavirus pandemic strai Show less Read more
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