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| Thursday, March 18, 2010 |
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ANALYSIS
March 2, 2009
Sagging Index no longer reflects what’s going on in the market, some say, Replacements? Google it, to start.
March 2, 2009
Downward price spiral will actually boost the cost of capital for most companies. CFOS, take note.
March 2, 2009
The latest bailout at AIG could be a preview of how the president will deal with Wall Street.
March 2, 2009
No corporate defaults. Big debt offerings. Percolating CP issuance. Things may be looking up in the capital markets.
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January 7, 2009 3:12 PM ET
The capital crunch battering bank balance sheets has become a business relationship crisis for some lenders—especially when it comes to their smaller customers. Close to half of the small and mid-sized companies in the United States are looking at switching banks as their lenders cut back credit, according to a report released on Wednesday. Of 670 companies surveyed by financial research company Greenwich Associates at the end of 2008, nearly half said they were shopping for a new bank or considering changing banks. A year ago, less than a third said they were shopping for a new lender. Greenwich analysts cited several reasons why companies looked to leave their banks in 2008, including poor communication. But the biggest factor, by far, was a reduction in the amount of credit lenders made available to their customers. That reduction in available credit has hit larger companies, as well. According to the Federal Reserve’s October 2008 senior loan officer survey, about 85% of U.S. banks reported tightening lending standards on commercial and industrial loans to large and middle-market businesses over the past three months—up substantially from 60% in the July survey. About 95% of U.S. banks reported having tightened the costs of credit lines to large and medium-sized companies, while nearly 90% reported such tightening for smaller operators. Of course, widespread dissatisfaction among bank clients presents an opportunity for lenders with strong balance sheets to add new customers by offering safety and stability, Greenwich analysts said. But finding lenders looking for new customers isn’t necessarily all that easy: More than half the respondents to Thomson Reuters Loan Pricing Corp.’s quarterly survey of the loan industry released last week said their lending next year will be primarily focused on known and trusted borrowers. (Reuters contributed to this article)
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