Administration calls for stronger international standards governing banks' capital reservesSeptember 3rd, 2009 Administration unveils bank capital proposalWASHINGTON — The Obama administration on Thursday proposed stronger international standards for the capital reserves that banks are required to hold. The goal is to avoid a repeat of last year's severe financial crisis.
FDIC lengthens tougher capital, exam requirements for newer banks to 7 yearsAugust 28th, 2009 FDIC lengthens requirements for newer banksWASHINGTON — Federal banking officials worried about rising bank failures will require new banks to meet stricter regulatory standards for seven years rather than the previous three-year requirement. The new rules, outlined in a letter Friday from the U.S.
FDIC looks for ways to draw private equity buyers into auctions for failed banksJuly 2nd, 2009 FDIC seeks more investor interest in failed banksWASHINGTON — The Federal Deposit Insurance Corp. proposed new guidelines Thursday for potential buyers of failed banks as the government seeks to sell a growing number of closed financial institutions.
Moody's sees no benefit for creditors from bank TARP repayments; no bank ratings changedJune 18th, 2009 Moody's: TARP repayments don't change bank ratingsNEW YORK — The repayment of about $68 billion in bailout money by 10 large banks may seem like signs of financial strength, but Moody's Investors Services said late Wednesday it's not in the interest of creditors in the short term. The ratings agency said "the repayments have the immediate effect of lowering capital levels and of shrinking liquidity positions at a time when economic and financial market conditions remain highly unsettled."
Moody's does not expect to lower the ratings of the 10 banks — among the largest in the country— who made repayments Wednesday.
Fed says bank plans to boost capital should be sufficientJune 8th, 2009 Fed says bank plans for capital look sufficientWASHINGTON — The Federal Reserve says plans submitted by 10 banks to bolster their capital cushions are enough to help them survive a deeper recession. The plans "if implemented, would provide sufficient capital to meet the required buffer," the Fed says.
Stock futures pare gains following uptick in unemployment rateMay 8th, 2009 Wall Street pares gains after jobs dataNEW YORK — Stock futures pared some of their early gains Friday as investors were disheartened by a rise in the unemployment rate last month even as the number of job losses dropped. The Labor Department said employers cut 539,000 jobs last month, the fewest in six months and much less than the 620,000 job losses analysts had been expecting.
10 US banks fail stress test, need $75 bnMay 8th, 2009 WASHINGTON - Government 'stress tests' of the US financial industry found that 10 of the 19 largest banks need a combined $75 billion to weather the continuing recession, US regulators said Thursday. Treasury Secretary Timothy Geithner said that much of the extra capital could be raised from private investors, and many banks would be able to meet the government's demands by simply converting preferred shares into common equity.
Stocks open higher on Labor Department report showing drop in job lossesMay 8th, 2009 Wall Street opens higher open after jobs dataNEW YORK — Stocks soared in early trading Friday as Wall Street cheered the positive news it had been hoping for: job losses slowed in April and big banks don't need as much capital as feared. The Labor Department said employers cut 539,000 jobs last month, the fewest in six months and much less than the 620,000 job losses analysts expected.
Bank of America shares fall in premarket trading on reports it needs $34 billion in capitalMay 6th, 2009 BofA shares fall on reports of $34B shortfallNEW YORK — Bank of America stock is falling in premarket trading amid reports that it needs $34 billion in new capital. The Wall Street Journal and New York Times are reporting regulators are telling the Charlotte, N.C.-based bank it needs about $34 billion in capital based on results of government "stress tests." Both reports cite anonymous sources.
Details of government 'stress tests' of nation's 19 largest financial companiesMay 6th, 2009 Details of 'stress tests' of 19 financial firmsResults of the government's stress tests of financial companies with at least $100 billion in assets are expected Thursday after the markets close. Some details of those tests follow:
— The 19 companies that were tested are: JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp., Wells Fargo & Co., Goldman Sachs Group Inc., Morgan Stanley, MetLife Inc., PNC Financial Services Group Inc., U.S.
Report: Citigroup may need to raise $10 billion in extra capital to meet new gov't standardsMay 2nd, 2009 Report: Citigroup may need $10B in extra capitalNEW YORK — Citigroup Inc. may need to raise as much as $10 billion to meet the government's increased capital standards for banks outlined in its stress tests, according to a report.
At least six big US banks need capital: ReportApril 29th, 2009 NEW YORK - At least six of the 19 largest US banks need more capital to remain healthy through the recession, according to leaked information from the two-month stress test carried out by the nation's bank regulators, media reports said Wednesday. The infusions could come from extra cash injections from the government, but more likely from converting preferred shares to common equity, Bloomberg reported, citing people close to the situation.
We will bring back slush funds from abroad in 100 days: AdvaniApril 17th, 2009 MUMBAI - The National Democratic Alliance (NDA) would bring back slush funds, estimated at $140 billion, stashed in foreign banks, within 100 days if voted to power, Bharatiya Janata Party (BJP) leader L.K. Advani promised here Friday.
Italy to give banks a `stress test'March 18th, 2009 ROME - Italy will give banks a 'stress test' to see if they have enough capital to weather the current economic recession, the Italian central bank governor has said here. The initiative is aimed to 'put a number on how much they expect to lose from bad loans, how many of their clients will not pay their debts and how they plan to balance this in their budgets', Mario Draghi, the head of Bank of Italy, told parliament.
Government seeks $4.2 bn from World Bank to recapitalise banksFebruary 15th, 2009 NEW DELHI - The government has sought an additional $4.2 billion loan from the World Bank, majority of which will be used to recapitalise four state-run banks, a top official said here Monday. 'The government has sought additional world bank spending of $4.2 billion.
Loading ...