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Treasuries prices were mixed. The Fed’s benchmark overnight interest rate increased for the first time in nearly a decade at the end of 2015, but it has not changed this year due to persistently low inflation. Economists had forecasted that the CPI would move up by 0.1 percent last month, and the core CPI would move up by 0.2
Their benchmarks were down. Default rates are near zero now, fault rates are, are kind of skewed a bit because you, you do have perhaps in high yield, if you look at, you know, with these liability management exercises and other restructurings outta court, it doesn’t default. They were down 3.8%. So it does factor into it.
Assets and deposits both hit record growth—each up by 19%—and all of the bank’s product offerings, including consumer loans, agriculture lending and microfinance, hit new benchmark highs. Total asset value grew 27% over the year, and the bank continued to restructure loans that had become nonperforming during the pandemic.
When it comes to processing payments, it’s better for a bank to be “always on,” says Debopama Sen, Citi Services’ head of Payments in the Treasury and Trade Solutions business. Additionally, many incumbent firms are restructuring by spinning off their payments divisions into standalone entities to capture higher valuations.
So, you know, we, we, we got involved and created a benchmark, a commodity indices at the time. At the time, the Mexican, after the Mexican restructuring, they had, they had Mexican bonds with an oil option embedded in them. Hank Paulson had left to go become treasury secretary. I said, treasury can. Made sense.
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