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Remembering Harley: Graveside memorial service honours homeless Hantsport man’s life | SaltWire - Bank of Montreal is exploring the sale of a portfolio of recreational vehicle loans, Bloomberg News reported on Tuesday, citing people with knowledge of the matter.
The face value of the portfolio is at least $5 billion, the report said, adding that the Canadian lender is in discussions with potential buyers including credit arms of alternative asset managers.The potential sale comes at a time when several banks in North America shed loan portfolios to bolster balance sheets in the face of a 'higher-for-longer' interest rate environment.
The sale of loan portfolios, particularly those which are rate-sensitive, allows lenders to manage risk and keeps credit loss provisions or capital set aside to cover potential defaults in check.
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