Fed proposes expanding field of credit ratings agencies for TALF lending programOctober 5th, 2009 Fed seeks ratings competition for lending programWASHINGTON — The Federal Reserve may expand the field of credit ratings agencies that determine the eligibility of securities pledged for loans in a government program aimed at sparking more consumer and business lending. The Fed on Monday proposed allowing agencies that have registered with the Securities and Exchange Commission and that have experience with the securities being rated.
Bank of America sells part of Columbia Management to Ameriprise Financial for as much as $1.2BSeptember 30th, 2009 BofA sells some asset management ops to AmeripriseNEW YORK — Bank of America Corp. said Wednesday it is selling the long-term asset management business of one of its units to Ameriprise Financial Inc.
Merrill Lynch pays $12.7M to settle Texas auction rate securities caseSeptember 14th, 2009 Merrill Lynch settles Texas case for $12.7MAUSTIN, Texas — Merrill Lynch will pay the state of Texas $12.7 million to settle an investigation into the brokerage firm's marketing and sale of auction rate securities, state officials said Monday. Texas Securities Commissioner Denise Voigt Crawford announced the settlement.
Freddie Mac: Rates on 30-year fixed mortgages down, still above spring's all-time lowsSeptember 3rd, 2009 Mortgage rates edge down, still above record lowsWASHINGTON — Rates for 30-year home loans edged down this week, remaining close to record lows reached over the spring. The average rate for a 30-year fixed mortgage was 5.08 percent, down from 5.14 percent a week earlier, mortgage company Freddie Mac said Thursday.
Fed names 4 firms to reach out to investors in program to spur consumer, business lendingSeptember 1st, 2009 4 firms to help investors tap Fed lending planWASHINGTON — The Federal Reserve on Tuesday named four more financial firms to help investors tap a government program intended to spark lending at cheaper rates to consumers and businesses. The companies are: CastleOak Securities, Loop Capital, Wells Fargo Securities and Williams Capital Group.
Rates on 30-year fixed mortgages down for 3rd-straight weekJuly 16th, 2009 Mortgage rates fall againMcCLEAN, Va. — Rates for 30-year home loans dropped for the third-straight week, inching toward a record low reached earlier this year, Freddie Mac said Thursday.
CarMax completes private placement of $490 million in asset-backed notesJuly 14th, 2009 CarMax wraps placement of $490 million in notesRICHMOND, Va. — Automotive retailer CarMax Inc.
Banc of America ordered to pay $3.6M fine to Texas over auction rate securitiesJuly 8th, 2009 Texas securities board imposes $3.6M fineAUSTIN, Texas — The Texas State Securities Board has ordered Bank of America Securities LLC and Banc of America Investment Services to pay a $3.6 million fine to the state. In a statement issued Tuesday, State Securities Commissioner Denise Voigt Crawford said the fine was imposed for misleading investors about the safety of the auction-rate securities market.
Investors request $11.5 billion worth of loans from Fed consumer lending programJune 2nd, 2009 Investors seek $11.5B from consumer loan programWASHINGTON — Investors on Tuesday showed a bigger appetite for participating in a government program intended to boost the availability of loans to consumers and small businesses at cheaper rates. Investors requested $11.5 billion worth of loans, the Federal Reserve Bank of New York said.
Investors request $10.6 billion in TALF loans from Fed, demand up for consumer lending programMay 5th, 2009 Investors request $10.6B in TALF loans from FedWASHINGTON — Demand surged this month from investors seeking to participate in a government program aimed at jump-starting lending to consumers and small businesses. Investors requested $10.6 billion worth of loans, the Federal Reserve Bank of New York said Tuesday.
TALF program to bolster commercial real-estate lending launches in JuneMay 1st, 2009 New TALF program launches in JuneWASHINGTON — The Federal Reserve announced Friday that it will launch a much-awaited program in June to bolster commercial real-estate lending. And, to help make the program more attractive to investors, the Fed will provide longer, five-year loans.
Sharad Yadav opposes Advani's call for compulsory votingMay 1st, 2009 PATNA - Janata Dal-United (JD-U) national president Sharad Yadav Friday said he was against alliance partner Bharatiya Janata Party (BJP) leader L.K. Advani's view that the constitution be amended to fix the term for legislatures and that voting be made compulsory.
Freddie Mac: Rates on 30-year mortgages just above record lowsApril 23rd, 2009 Mortgage rates dip, stay above record lowsWASHINGTON — Rates on 30-year mortgages fell slightly from last week but remained just ahead of record lows posted this month, Freddie Mac said Thursday. Average rates on 30-year fixed mortgages dipped to 4.8 percent from 4.82 percent last week, Freddie Mac said.
US Fed has other tools beside rate cuts: BernankeJanuary 13th, 2009 LONDON - US Federal Reserve Chairman Ben Bernanke Tuesday said the bank has other powerful tools to fight the economic downturn besides short-term liquidity to financial institutions. He said the first set of tools that are closely tied to the central bank's traditional role as lender involve the provision of short-term liquidity to sound financial institutions.
US mortgage rates fall to lowest level in decadesDecember 31st, 2008 WASHINGTON - Mortgage rates for 30-year-fixed home loans in the US fell for the ninth straight week and to their lowest level in 37 years, according to a report released Wednesday by financier Freddie Mac. The rate dropped in the final week of December to 5.10, down from the 5.14 rate the previous week, Freddie Mac said.
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