Federal Reserve says consumers slash borrowing by record $21.6 billion in JulySeptember 8th, 2009 Fed: consumers cut debt by record $21.6B in JulyWASHINGTON — Consumers slashed their borrowing in July by the largest amount on record as job losses and uncertainty about the economic recovery prompted Americans to rein in their debt. Economists expect consumers will continue to spend less, save more and trim debt to get household finances decimated by the recession into better shape.
Consumers borrow less for 5th straight month as they rebuild nest eggsAugust 7th, 2009 Consumers cut debt for 5th straight monthWASHINGTON — Consumers paid down their credit cards and cut other debt in June for the fifth straight month as they rebuild savings battered by the recession. Outstanding U.S.
Treasury to auction a record $75 billion in notes, bonds to deal with soaring government debtAugust 5th, 2009 Treasury to auction a record $75B in 3QWASHINGTON — The Treasury Department on Wednesday said it will raise a record $75 billion in a series of auctions next week to help deal with the government's soaring debt. The $75 billion surpasses the $71 billion record set in the prior three-month period.
Treasury reduces borrowing estimate for third quarter due partly to bank bailout repaymentsAugust 3rd, 2009 Treasury reduces 3Q borrowing estimate to $406BWASHINGTON — The Treasury Department on Monday reduced its borrowing estimate in the current July-September quarter by $109 billion, some rare good news about the government's financial needs. Borrowing will reach $406 billion in the third quarter, the department said, down from its April estimate of $515 billion.
Consumers trim borrowing by $3.2 billion in May as recession bites into investments and jobsJuly 8th, 2009 Fed: Consumers trim borrowing by $3.2B in MayWASHINGTON — Consumers trimmed borrowing in May for the fourth straight month as the recession took another bite out of investments and drove unemployment higher. Many economists predict that consumers will stay cautious in the months ahead, boding for a lethargic recovery if the downturn ends later this year as many expect.
Foreign demand for long-term US financial assets falls in April; China, Japan cut holdingsJune 15th, 2009 Foreign demand for US financial assets fallsWASHINGTON — Foreign demand for long-term U.S. financial assets fell in April as both China and Japan trimmed their holdings of Treasury securities.
Budget deficit sets May record of $189.7 billion; total for year close to $1 trillionJune 10th, 2009 Budget deficit hits record for May of $189.7BWASHINGTON — The federal budget deficit soared to a record for May of $189.7 billion, pushing the tide of red ink close to $1 trillion with four months left in the budget year. The rising deficit reflects increased government spending due to the recession, and billions of dollars spent on bailouts for banks and other troubled companies.
Money sent home by Mexicans living abroad plunges in April; worst monthly fall on recordJune 1st, 2009 Mexico remittances plunge in worst fall on recordMEXICO CITY — Money sent home by Mexicans living abroad plunged in April by more than 18 percent compared to the same period last year, the biggest monthly fall on record, the central bank said Monday. Remittances fell to $1.7 billion in April 2009 compared to $2.1 billion in April 2008, according to the bank.
Consumer borrowing falls in March at fastest pace in over 18 years, Americans saving moreMay 8th, 2009 Consumer credit falls at fastest pace in 18 yearsWASHINGTON — Consumer borrowing plunged in March at the fastest pace in 18 years as Americans put away their credit cards and hoarded cash amid the worst recession in decades. The Federal Reserve says consumer borrowing dropped 5.2 percent in March, the biggest decline since an 8.1 percent fall in December 1990.
Treasury plans to auction 30-year bonds on a monthly basis to deal with record debt levelsApril 29th, 2009 Treasury again increases auctions of 30-year bondsWASHINGTON — The Treasury Department said Wednesday it will boost the number of times it auctions 30-year bonds to 12 times a year in another move to cope with the government's soaring debt. The monthly auctions of 30-year bonds follows Treasury's decision just three months ago to double the frequency of the auctions from four times annually to eight.
Treasury needs to borrow $361 billion in April-June quarter, record amount for that periodApril 27th, 2009 Treasury needs record $361B April-June borrowingWASHINGTON — The Treasury Department said Monday it will need to borrow $361 billion in the current April-June quarter, a record amount for that period. It's the third straight quarter the government's borrowing needs have set records for those periods.
Nomura Holdings sees record net loss for 2008-09April 24th, 2009 TOKYO - Japan's largest brokerage house, Nomura Holdings Inc, incurred a record net loss for the year ended March March 31, the firm said Friday. The record loss amounted to 709.44 billion yen ($7.24 billion) after the firm was hit hard by the global financial turmoil and the burden of taking over part of the US investment bank Lehman Brothers Holdings Inc in September last year.
Nomura Holdings sees record net loss for fiscal 2008April 24th, 2009 TOKYO - Japan's largest brokerage house, Nomura Holdings Inc, incurred a record net loss for fiscal 2008 that ended March 31, the firm said Friday. The record loss amounted to 709.44 billion yen ($7.24 billion) after the firm was hit hard by the global financial turmoil and the burden of taking over part of the US investment bank Lehman Brothers Holdings Inc in September last year.
Government will borrow Rs.460 bn by late MarchFebruary 9th, 2009 NEW DELHI - With the economic crisis taking a toll on the Indian economy, the government plans to borrow Rs.460 billion (about $9.45 billion) by late March from the market, a senior finance ministry official said Tuesday. 'We already had discussions with the Reserve Bank of India (RBI).
American consumer borrowing drops by $6.6 bnFebruary 6th, 2009 WASHINGTON - Borrowing by American consumers tumbled for the third month in a row, falling by $6.6 billion to $2.562 trillion as the faltering US economy continues to pressure households to curb spending. Figures released by Federal Reserve, the US central bank, Friday suggest nearly twice the expected drop in December marked a decline from a downwardly revised $2.569 trillion in November.
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