Yellen Warns Non-Bank Lenders Could Fail As Household Finances Become Stretched
Yellen Warns Non-Bank Lenders Could Fail As Household Finances Become Stretched
U.S. Treasury Secretary Janet Yellen warned on Thursday of the potential failure of non-bank lenders if household finances became stretched and the rate of delinquencies on loans rises.
美国财政部长珍妮特·耶伦周四警告说，如果家庭财务紧张，贷款拖欠率上升，非银行贷款机构可能会倒闭。
Speaking before a Senate Committee on Banking, Housing and Urban Affairs, the former Federal Reserve chair warned that the risk of failure of one or more of them in the sector was possible if the lending market became strained.
这位前美联储主席在参议院银行、住房和城市事务委员会发表讲话时警告说，如果贷款市场变得紧张，该行业中一个或多个银行可能会出现倒闭的风险。
Non-bank lenders rely on short-term funding instruments such as Treasury bills and commercial paper, and they don't have access to the Fed's emergency lending facility. Yellen said regulators were monitoring the risks.
非银行贷款机构依赖短期融资工具，例如国库券和商业票据，他们无法获得美联储的紧急贷款机制。耶伦说，监管机构正在监控风险。
She said: "They're reliant on short-term financing that may be a lot less stable than deposits, and in stressful times, their credit lines can be pulled."
她说：“他们依赖的短期融资可能比存款稳定得多，在紧张时期，他们的信贷额度可能会被取消。”
Also Read: Janet Yellen Champions Biden's Economic Triumphs At Senate
另请阅读：珍妮特·耶伦在参议院支持拜登的经济胜利
Household Debt Hits Record High
家庭债务创历史新高
Recent data from the New York Federal Reserve shows that U.S. household debt hit a record high of $17.5 trillion at the end of 2023, with mortgage debts and credit card balances hitting highs of $12.24 trillion and $1.13 trillion, respectively.
纽约联储最近的数据显示，到2023年底，美国家庭债务创历史新高，达到17.5万亿美元，抵押贷款债务和信用卡余额分别达到12.24万亿美元和1.13万亿美元的高位。
Delinquency rates increased in nearly all types of debt, with the overall rate up to 3.1%.
几乎所有类型的债务的拖欠率都有所增加，总体利率高达3.1％。
This could spell bad news for non-bank lenders such as Freedom Holding Corp. (NASDAQ:FRHC), LoanDepot Inc (NYSE:LDI) and PennyMac Financial Services (NYSE:PFSI), should the delinquency rate rise further.
如果拖欠率进一步上升，这对于自由控股公司（纳斯达克股票代码：FRHC）、LoanDepot Inc（纽约证券交易所代码：LDI）和PennyMac金融服务（纽约证券交易所代码：PFSI）等非银行贷款机构来说可能是个坏消息。
Non-banks accounted for around half of funded mortgage loans in 2022.
2022年，非银行约占融资抵押贷款的一半。
Regional Bank Strains
地区银行压力
Smaller banks are already feeling the strain, with a run of collapses in 2023, which included Silicon Valley Bank and First Republic Bank.
小型银行已经感受到了压力，2023年出现了一系列倒闭，其中包括硅谷银行和第一共和国银行。
And this week, shares in New York Community Bancorp, Inc. (NYSE:NYCB) plunged as it brokered with larger rivals to sell off a portion of its mortgage risk, worth around $5 billion, to shore up its finances.
本周，纽约社区银行股份有限公司（纽约证券交易所代码：NYCB）的股价暴跌，原因是该公司与较大的竞争对手进行促销，出售了价值约50亿美元的部分抵押贷款风险，以支撑其财务状况。
In just the last nine trading sessions the SPDR S&P Regional Banking ETF (NYSE:KRE), an exchange traded fund that includes New York Community Bancorp, is down 11%.
仅在过去的九个交易日中，包括纽约社区银行在内的交易所交易基金SPDR标准普尔地区银行ETF（纽约证券交易所代码：KRE）就下跌了11％。
Despite her warning on non-bank lenders, Yellen told the committee the financial system in the U.S. is well-capitalized and overall sound.
尽管耶伦对非银行贷款机构发出了警告，但她告诉委员会，美国的金融体系资本充足，总体健全。
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Photo: Shutterstock
照片：Shutterstock