For each credit, we compute the portion that the lead bank sells to other banks and the portion that it sells outside the banking sector, distinguishing in the latter case whether the acquiring institution is an insurance company, a finance company, a pension fund, an investment manager, a private equity firm, a CLO, or a broker or investment bank.
These aggregate trends are consistent with the trends in the average share of the credit that the lead bank retains on its balance sheet.
We obtain similar results when we track the individual share of each credit that the lead bank retains on its balance sheet.
Researchers have been using the share of a credit held by the lead bank at the time of origination as a proxy for the bank's monitoring incentives.
1) In loan syndications, the lead bank usually retains a portion of the loan and places the remaining balance with a number of additional investors, usually other banks.
Although the data indicate that lead banks increasingly used the originate-to-distribute model from the early 1990s on, we conclude that this increase was limited to a large extent to term loans; in their credit-line business with corporations, banks continued to rely on the traditional originate-to-hold model.
Maurice Heath, HSBC's Head of Corporate Banking for the Midlands, said: "To achieve the lead bank
position - and indeed to be the only non-German bank is a real achievement for us in the Midlands.
The lead bank
scheme was introduced 44 years ago as a means of extending banking services to consumers, especially to the poor.
The chances that a former head of Bank of Israel will lead Bank
However, Internafta has also informed GlobeTel that the lead bank
requires additional time in order to secure an external expert opinion to verify both the feasibility of, and GlobeTel's ability to implement, the business plan for the Russian network.
South Carolina Bank and Trust is the lead bank
in a three-bank holding company.
Steve O'Hara, CEO of Angelica, said, "After reviewing various financing alternatives, this amended facility proposed by LaSalle Bank, the lead bank
in our group, was the most competitive in the marketplace.
Joining lead banks
JP Morgan (JPM), Bank of America Merrill Lynch (BAC) and Citigroup (C) will be banks including Wells Fargo (WFC), Morgan Stanley (MS), Goldman Sachs (GS) and UBS (UBS), which will be making the biggest commitments after the lead banks
, sources say.
Bank was one of seven lead banks in GCPS, which enables it to offer clients a seamless commercial card structure and data exchange solution to support their multinational corporate and purchasing card programs.
In addition to the lead banks that provide local banking services in nine countries, GCPS includes 16 "partner banks" that can issue commercial cards in an additional 28 countries.