Davies: UniCredit Building Confidence for New Capital

The video discusses UniCredit's strategy to sell non-performing loans (NPLs) to American firms like PIMCO and Fortress. It explores the markdown of these loans and its impact on UniCredit, emphasizing the importance of building investor confidence to attract new capital. The discussion also touches on the responsibilities of banking and the potential gains for firms buying these NPLs. Finally, it evaluates the outcomes of such transactions, highlighting the risks and rewards involved.

What role does PIMCO play in the context of the text?

What does the text imply about the risks associated with investing in NPLs?