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"We like loans to come to us as gifts, but sometimes we have to take other steps," said Thomas P. Campbell, the Met's director.
S.P.E.'s are a vehicle to which companies sell pools of cash-producing assets, like loans.
Behind this virtuous cause was a jungle of counterintuitive arrangements, like loans with no down payment or income verification.
He also said SKS would expand into other businesses like loans made with gold as collateral, a popular form of personal and business finance in southern India.
It's effectively like a "financial CV" and impacts your life in lots of different ways, not just the obvious things like loans and credit cards.
Nonrevolving credit, like loans for new cars, vacations and other big-ticket items, grew $3.3 billion -- an annual rate of 4.5percentt.
Banks have been seeking ways to sell so-called toxic assets, like loans backed by subprime mortgages, to shore up their balance sheets and regain investor confidence.
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I was first going down the path of something related to "exchange," like Loan-Ex.
"Why would I make equity-like loans?" The answer, apparently, is a heady combination of high share prices, pressure to make profits, and a belief in the "new economy".Banks' reserves are currently at their lowest since 1986, and in risk-adjusted terms at their lowest for 50 years, says Mike Mayo, a former bank analyst at Credit Suisse First Boston.
Its CEO predicts that such lease-like loans could be half of their new business by the end of 2015.
"Congress likes loan guarantees because they do not show up on the budget and appear to be free to taxpayers.
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Justyna Jupowicz-Kozak
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