Bank of America Chairman and CEO Brian Moynihan - News & Media - The Economic Club of New York
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Bank of America Chairman and CEO Brian Moynihan
Published Date
Jun 04, 2019
LA Times:
Bank of America Warns of Possible ‘Carnage’ Linked to Leveraged Loans
The U.S. economy is on solid footing except for one potential trouble spot, according to Bank of America Corp. Chief Executive Brian Moynihan: leveraged loans — a business the bank has dominated for a decade. Problems aren’t yet emerging as the economic expansion continues and companies churn out profits, Moynihan said Tuesday at the
Economic Club of New York.
His own bank has repeatedly said it focuses on “responsible growth” and sticks to lending standards it has had for years. But leveraged finance threatens to become an issue in the broader market, he said.
Read the full story
Axios:
America's Top Leveraged Loan Banker is Worried About Corporate Debt
Brian Moynihan, America's top leveraged loans banker, is joining the concern chorus over high levels of corporate debt. Why it matters: Moynihan is CEO of Bank of America Merrill Lynch, regularly the country's top book-runner and lead arranger for leveraged loans, with 2018 market share of 10.8% and 9.8%, respectively. In fact, it's led those categories since Moynihan took the reigns in 2010. Yesterday he told
the Economic Club of New York
that increases in leveraged lending, particularly at riskier terms, threatens to undermine the broader markets
Read the full story
Bloomberg:
BofA, Longtime Leader in Leveraged Loans, Warns of `Carnage'
The U.S. economy is on solid footing except for one potential trouble spot, according to Bank of America Corp.’sChief Executive Officer Brian Moynihan: leveraged loans -- a business the bank has dominated for a decade. Problems aren’t yet emerging as the economic expansion continues and companies churn out profits, Moynihan said Tuesday at
the Economic Club of New York.
His own bank has repeatedly said it focuses on “responsible growth” and sticks to lending standards it’s had for years. Yet, leveraged finance threatens to become an issue in the broader market, he said.
Read the full story
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