Overview
- JPMorgan disclosed a $170 million charge-off tied to Tricolor’s bankruptcy, while Fifth Third reported a $178 million loss linked to the same lender.
- Bank of England governor Andrew Bailey flagged "worrying echoes" of 2008 and his deputy said the central bank will run a war-game exercise to map private-credit linkages.
- The U.S. Department of Justice has opened an inquiry into the First Brands collapse, and creditors are arranging about $1.1 billion in debtor-in-possession financing to keep it operating.
- Regional banks remain under scrutiny after Zions booked a $50 million fraud-related charge-off and Western Alliance sued an alleged borrower, with sector indexes sliding before a partial rebound.
- Markets have calmed after last week’s jitters, as investors reassess exposures in opaque financings and debate whether the failures are one-offs despite Jamie Dimon’s "cockroach" warning.