High quality indicators for underwritten loans are flashing pink at Royal Financial institution of Canada (RBC), with the financial institution slicing their worth amid a riskier market surroundings.
The financial institution – a significant participant within the world leveraged loans market – marked down underwritten loans, principally within the US, by C$385 million ($296 million) within the three months to end-July, driving a lot of the quarter’s 44% drop in company and funding banking income.
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Uneven markets additionally reverberated via the portfolios’ riskiness
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