Digital Federal Credit Union is a federally-chartered, National Credit Union Administration insured credit union located in Marlborough, Massachusetts founded in 1979. Digital Federal Credit Union offers consumer and small business checking and savings accounts, commercial loans, commercial deposit accounts, certificates of deposit, individual retirement accounts, health savings accounts, credit cards, consumer loans, mortgages, and retirement, investment and insurance services.


North America

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Digital Federal Credit Union Reviews 2024 | BankerAdvisor

Digital Federal Credit Union

Treasury yields moved higher Tuesday following a poor auction on the five-year note and as investors await fresh data releases on inflation. Yields perked up after a $70 billion Treasury Department auction of 5-year notes was met with weak demand. The bid-to-cover ratio, a widely followed demand gauge, came in at 2.3, below a 10-auction average of 2.45. Investors are hungry for more data on the economic and inflationary picture after the minutes from the Federal Reserve’s latest meeting, released last week, showed uncertainty among policymakers about when to ease policy. On Friday, they will parse the April personal income and expenditures report, which includes a measurement of price movements across a range of consumer expenses.

10-year Treasury yield rises above 4.5% following weak auction

The turmoil in global markets this past week is causing private credit funds to question whether they should reconsider the ever-tighter loan margins they’re demanding. Industry stalwarts such as Ares Management Corp. and Blackstone Inc. have been charging less for private credit for most of this year, according to data compiled by Bloomberg News, as they try to snatch business away from the syndicated loan market. But that strategy may change after recession fears have risen amid a slew of worrying economic reports. 

Private Credit Is Eyeing Bigger Margins on Loans: Credit Weekly

A group of private credit lenders led by Blue Owl Capital and Ares Management has agreed to take over troubled software company Pluralsight, wiping out $4bn that Vista Equity Partners and other investors had put into the business since they bought it less than four years ago. The closely watched restructuring is one of the biggest in which the creditors that ultimately take control are also so-called direct lenders. The deal values Pluralsight at about $900mn, far below the more than $5bn that Vista, its partners and private lenders had invested or lent to the business. Vista and its co-investors had sunk roughly $4bn into Pluralsight, while lenders provided it with about $1.7bn of debt financing.


Vista and co-investors lose $4bn in Pluralsight restructuring

Goldman Sachs Asset Management is reportedly planning a major expansion of its private credit portfolio. The Wall Street giant aims to grow that portfolio to $300 billion in five years, up from $130 billion, a senior executive told Reuters Tuesday (March 12). “It’s a huge opportunity,” said Marc Nachmann, Goldman Sachs’ global head of asset and wealth management. According to the report, Goldman has loftier goals than other banking titans. For example, Morgan Stanley is planning to double its private credit portfolio to $50 billion, while JPMorgan Chase has set aside at least $10 billion for private credit. 

Goldman Sachs Aims for $300 Billion Private Credit Portfolio

The Federal Reserve is stressing the importance of fintechs and core providers for the future expansion of its new instant payments system FedNow. The Federal Reserve won’t provide fintechs with direct access to its new instant payments system FedNow, but it’s still courting their participation in the new real-time ecosystem. 

Fintechs can help the Fed see what’s on the horizon for the new faster payment system and allow the new real-time payments services to be easier to use, said Mollie Markham, a Federal Reserve Bank of Chicago industry specialist who works with nonbanks. Fintechs can also assist the Fed in providing services that make the most of FedNow’s data-rich capabilities, she said during a conference this month.

Fed courts nonbanks for FedNow growth

The federal IOU is now at $34.5 trillion, or about $11 trillion higher than where it stood in March 2020. Chatter has spilled into government and finance heavyweights, and has one prominent Wall Street firm wondering if costs associated with the debt pose a risk to the stock market rally. The CBO estimates that debt held by the public compared to GDP will rise to “an amount greater than at any point in the nation’s history.” Fed Chair Jerome Powell said recently that “this is something that elected people need to get their arms around sooner rather than later.”

Soaring debt and deficits causing worry about threats to the economy and markets

Michael Sonnenshein has stepped down from his role as the CEO of Grayscale Investments LLC. Sonnenshein will be replaced by former Goldman Sachs executive Peter Mintzberg as of Aug. 15. Until then, Grayscale’s chief financial officer, Edward McGee, will lead the firm in the interim as the principal executive officer.

Grayscale CEO Michael Sonnenshein steps down

Blue Owl has earned a high public market valuation. And the private capital upstart is showing that it is not afraid to use it. So far the manager has announced $1.4bn worth of deals this year, across three acquisitions. This month, in its latest transaction, it acquired the credit manager Atalaya Capital Management, for $450mn.  

Blue Owl is bidding hard for the private capital big leagues

Norinchukin Bank will consider investing in a range of assets as it braces for massive losses on the sale of roughly 10 trillion yen ($63 billion) in US and European sovereign bonds. Japan’s biggest agricultural bank will dispose of the foreign bonds gradually during the fiscal year ending March, a company spokesman said in an email. It expects a net loss of 1.5 trillion yen for the year, triple the previous estimate of 500 billion yen. 

https://finance.yahoo.com/news/norinchukin-eyes-assets-including-clos-014942422.html

The Bank of England joined the growing list of policymakers and market participants concerned about the booming $1.6-trillion private credit market. The central bank’s Financial Policy Committee on Wednesday highlighted riskier types of corporate borrowing such as private credit and leveraged lending as particularly vulnerable to “sharp revaluations” in credit markets, as higher interest rates could make it harder for companies to refinance debt.

Bank of England Issues Warning on Private Debt, Leveraged Loans

Sports investment group Arctos Partners is in advanced talks to buy a majority stake in European credit investment shop Hayfin Capital Management in tandem with its top executives, according to people with knowledge of the matter.  Arctos has partnered with top Hayfin executives, including co-founders Tim Flynn and Mark Tognolini, in the deal, which is expected to hand a majority of the common stock owned by the British Columbia Investment Management Corporation (BCI) to the management team when it is completed. 


European credit group Hayfin Capital nears buyout deal

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