RBC’s loan-underwriting VAR drops 59% as volumes dry up

Widening credit spreads had previously sent market risk on syndicated loans skyrocketing

Market risk in Royal Bank of Canada (RBC)’s syndicated loans dropped 59% through the third financial quarter, driven by a shrinking volatility-battered book.

One-day value-at-risk stemming from loan underwriting commitments averaged C$9 million ($6.7 million) in the three months to end-July, compared with C$22 million the previous quarter.

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