Banks

Bair calls U.S. bank bailout "not a good thing"

wyogal — Fri, 13 Nov 2009 23:21:48 GMT

Bair calls U.S. bank bailout "not a good thing" Fri Nov 13, 2009 5:17pm EST WASHINGTON (Reuters) - Leading U.S. bank regulator Sheila Bair said on Friday that the government's capital injections into the largest banks was "probably not a good thing." Bair, the chairman of the Federal Deposit Insurance Corp, said the billions of dollars of capital infusions last year had a terrible impact on public perception of the financial industry and government regulators. "I ...

JPMorgan Chase To Hire 1,200 Mortgage Officers

day dreamer — Wed, 11 Nov 2009 08:17:22 GMT

JPMorgan Chase To Hire 1,200 Mortgage Officers by The Associated Press A Chase office tower in New York. Enlarge Mark Lennihan/AP JPMorgan Chase said the additional workers are needed as the company aggressively goes after new home mortgage business and as customers refinance their loans. A Chase office tower in New York. Mark Lennihan/AP JPMorgan Chase said the additional workers are needed as the company aggressively goes after new home mortgage business and as customers ...

JPMorgan�s Dimon Hires His Father for Bear Stearns Brokerage

dry — Sun, 08 Nov 2009 22:18:00 GMT

JPMorgan�s Dimon Hires His Father for Bear Stearns Brokerage Nov. 7 (Bloomberg) -- If Jamie Dimon ever needs fatherly advice, he can turn to his newest employee: Dad. Theodore �Ted� Dimon, the 78-year-old father of JPMorgan Chase & Co.�s chief executive officer, quit Bank of America Corp.�s Merrill Lynch unit yesterday to join his son�s firm, according to a person familiar with the matter. JPMorgan spokesman Darin Oduyoye confirmed the decision and said the unit had added more than ...

Britain joins G20 push for worldwide levy on banks

wyogal — Sat, 07 Nov 2009 21:50:48 GMT

Britain joins G20 push for worldwide levy on banks Reuters /St Andrews, Scotland Britain threw its weight yesterday behind proposals to impose a global levy on banks to fund future bailouts and called on the G20 to work toward a $100bn deal to meet the cost of climate change. A draft end-of-meeting statement from the group of rich and developing nations said the economy had improved but cautioned recovery was still dependent on the official support given ...

Islamic Banks Enjoy Double-digit Growth

wyogal — Sat, 07 Nov 2009 01:33:00 GMT

Islamic Banks Enjoy Double-digit Growth Rocel Felix 7 November 2009 [/size] DUBAI � Islamic banks continue to boost their investments and other assets, while at the same time avoiding mistakes that have bedeviled some of the world�s biggest conventional banks in the wake of the global financial crisis, a joint survey by HSBC Amanah and The Banker Magazine showed. The survey ranked over 600 retail, commercial and investment banks, insurance companies and asset managers with ...

Are Safe Deposit Boxes Safe? No

ksp — Tue, 03 Nov 2009 22:03:31 GMT

http://www.financialsense.com/fsu/editorials/vaughn/2009/1103.html Are Safe Deposit Boxes Safe? No by David N. Vaughn, Gold Letter Inc. | November 3, 2009 Print Got a lot of email when I suggested that safe deposit boxes are not safe from bank or government intrusion. In most minds the �safe deposit box� is the �holy grail.� Our comfort will always be OK as long as our safe deposit box remains safe from others ill intent. Noticed the last few years how the Swiss Banks are no longer ...

CIT files Bankruptcy

lrichards — Mon, 02 Nov 2009 01:08:24 GMT

Sunday, November 1, 2009 WASHINGTON - After struggling for months to avert bankruptcy, lender CIT Group has filed for Chapter 11 protection in an attempt to restructure its debt while trying to keep badly needed loans flowing to thousands of mid-sized and small businesses. CIT made the filing in New York bankruptcy court Sunday, after a debt-exchange offer to bondholders failed. CIT said in a statement that its bondholders overwhelmingly opted for a prepackaged reorganization plan which will ...

Gulf banks alone cannot finance huge projects: Bankers

wyogal — Tue, 03 Nov 2009 03:51:23 GMT

[size=9] Gulf banks alone cannot finance huge projects: Bankers[/size] Web posted at: 11/3/2009 0:47:36 Source ::: AFP KUWAIT CITY: Gulf and Arab banks are unable to finance huge projects in the region and fill a credit gap created by the withdrawal of foreign banks amid the global financial crisis, bankers said yesterday. "The total shareholders� equity of the top 150 Arab banks is just $170bn," Shaikha Al Bahar, deputy chief executive of National Bank ...

Britain's top retail banks set for shake-up

wyogal — Tue, 03 Nov 2009 03:11:01 GMT

Britain's top retail banks set for shake-up Mon Nov 2, 2009 8:28pm EST LONDON (Reuters) - Britain is set to announce on Tuesday a long-awaited deal with its bailed-out banks, including a record rights issue for Lloyds Banking Group (LLOY.L) and hefty disposals for Royal Bank of Scotland (RBS.L) to appease the EU competition regulator and boost competition. Part-nationalised RBS and Lloyds, 43 percent state-owned, have for months been under the scrutiny of the European Commission, ...

Nine U.S. banks seized in largest one-day haul

wyogal — Sat, 31 Oct 2009 17:48:13 GMT

[b]Nine U.S. banks seized in largest one-day haul [/b] Sat Oct 31, 2009 5:44am EDT By Sam Mircovich and Edwin Chan LOS ANGELES (Reuters) - U.S. authorities seized nine failed banks on Friday, the most in a single day since the financial crisis began and the latest stark sign that substantial parts of the nation's banking industry are being crippled by bad loans. The move brought the total number of failed banks in 2009 to 115 -- their highest annual level since 1992 ...

World Bank eyes regular Islamic bond sales

dry — Thu, 22 Oct 2009 02:58:07 GMT

World Bank eyes regular Islamic bond sales DUBAI: The World Bank''s International Finance Corporation (IFC), which is selling 100 million US dollars worth of Islamic bonds, or Sukuk, is looking to sell more notes every 12ـ18 months with larger tickets, IFC executives said. The IFC began a roadـshow earlier this week for its debut Sukuk sale to be used to finance healthcare projects in Yemen and Egypt to tap demand primarily from Middle East investors. "What we thought ...

New Rule From Chase Starting Tonight

Jetsa — Sat, 17 Oct 2009 07:33:41 GMT

We have added language to clarify that it is prohibited to use our bill payment and/or transfer services for International ACH transactions.

JPMorgan earnings show �too big to fail� banks getting bigger

dry — Sun, 18 Oct 2009 14:00:36 GMT

JPMorgan earnings show �too big to fail� banks getting bigger Big financial firms are emerging from crisis even larger and more powerful than they were before. It�s a trend punctuated by surging earnings reported Wednesday by JPMorgan Chase, the largest US bank, and it poses a challenge for US policymakers. The question is: How can regulators reduce the risk of another financial crisis should these banks get into trouble again. In other words, if they were too big to fail ...

Bank of America Posts Third-Quarter Loss on Defaults (Correct)

wyogal — Fri, 16 Oct 2009 17:30:37 GMT

Bank of America Posts Third-Quarter Loss on Defaults (Correct) By David Mildenberg (Corrects description of debt affected by accounting rules in the 15th paragraph.) Oct. 16 (Bloomberg) -- Bank of America Corp., the biggest U.S. lender, posted its second quarterly loss in less than a year, unable to shake off effects of the economic contraction that drove the company to take two taxpayer bailouts. The $1 billion third-quarter loss, or 26 cents per diluted share, ...

Rasheed Bank issued the eighth issue of the Bulletin of bank marketing

Cat561 — Mon, 12 Oct 2009 13:48:47 GMT

Conscious / Rasheed Bank issued the eighth issue of the Bulletin of bank marketing Conscious / Baghdad / m. A 12/10/2009 12/10/2009 2:50pm 2:50 pm Rasheed Bank issued the eighth issue of the quarterly bulletin of bank marketing, which aims to provide the employee the modern banking information on the modern Marketing methods and mechanisms of the banking application. A media source in the ministry for the (News Agency Iraqi media / conscious) that "the Director-General of ...

Dubai World: An agreement to settle the debt Nakheel Properties

day dreamer — Mon, 12 Oct 2009 07:54:37 GMT

Dubai World: An agreement to settle the debt Nakheel Properties Reach 3.52 billion ...

HSBC boss: 'The industry collectively owes the real world an apology'

wyogal — Wed, 07 Oct 2009 09:56:52 GMT

The entire banking industry "owes the real world an apology", the chairman of HSBC has said. Stephen Green told BBC World Business Report that a change in culture was needed to improve the public's perception of bankers. He also said that London was secure as a major financial centre, but would lose market share as Asia developed. Last month, HSBC announced that its chief executive Michael Geoghan would move to Hong Kong from London. But Mr Green said the bank's decision ...

U.K. Treasury Seeks to Extend G-20 Bonus Curbs to More Banks

wyogal — Sun, 04 Oct 2009 20:12:56 GMT

U.K. Treasury Seeks to Extend G-20 Bonus Curbs to More Banks By Gonzalo Vina Oct. 4 (Bloomberg) -- U.K. Treasury minister Paul Myners is pressing more banks to adopt the curbs on bonus payments agreed by the Group of 20 nations and will meet with institutions including Goldman Sachs Group Inc. and Morgan Stanley. �We will speak to the major investment banks with significant operations in the U.K. and urge them to endorse and act in accord with the decisions ...

Officials: Fed will need to boost rates quickly

dry — Wed, 30 Sep 2009 10:59:18 GMT

Officials: Fed will need to boost rates quickly By JEANNINE AVERSA, AP Economics Writer � Tue Sep 29, 7:00 pm ET WASHINGTON � To prevent inflation from taking off, the Federal Reserve will need to start boosting interest rates quickly and aggressively once the economy is back on firmer footing, Fed officials warned Tuesday. "I expect that when it comes time to tighten monetary policy, my colleagues and I will move with an alacrity that, if needed, will be equal in speed and intensity" ...

Fed moves ahead on credit card protection plan

dry — Wed, 30 Sep 2009 11:06:50 GMT

Fed moves ahead on credit card protection plan By JEANNINE AVERSA, AP Economics Writer � Tue Sep 29, 1:15 pm ET WASHINGTON � The Federal Reserve proposed rules Tuesday to better protect Americans from sudden hikes in interest rates on credit cards. The proposal would generally bar rate increases during the first year after an account is opened. It also would ban � with a few exceptions_ increasing the rate on existing credit card balances. For instance, if a customer is behind more ...

Arab central bankers want global ''early warning system''

day dreamer — Tue, 29 Sep 2009 07:35:44 GMT

Arab central bankers want global ''early warning system'' ABU DHABI: Arab central bankers, grappling with the impact of the global financial crisis and a corporate debt scandal in the Gulf region, want a global "early warning system" for financial institutions, the head of the United Arab Emirates (UAE) central bank said. But as the Arab Monetary Fund holds its annual meeting in Dubai on Monday, Governor Sultan Nasser AlـSuweidi said it ...

Arab Central Banks requests greater independence: start of economic recovery in the region

day dreamer — Tue, 29 Sep 2009 03:36:18 GMT

Arab Central Banks requests greater independence: start of economic recovery in the region Tuesday, September 29th, 2009 Abu Dhabi - Shafiq al-Asadi �Central� UAE: no return now to the Gulf monetary union deal Governors stressed banks and monetary institutions Arabic Arab economies began to recover from the negative aspects of the global financial crisis, and stressed at the meeting of the regular session of the thirty-third of the Board of Governors of the banks ...

BOA says American Flags are against Bank Policy

KC — Tue, 22 Sep 2009 15:58:37 GMT

Flags For Fallen Marine Create Bank Controversy Woman Told Planting American Flags On Bank Property Against Policy POSTED: 7:08 pm EDT September 17, 2009 UPDATED: 12:10 pm EDT September 18, 2009 GAFFNEY, S.C. -- Just days before a fallen Marine is to be buried, a controversy erupted in Gaffney following the return of his body to the Upstate. On Wednesday, Lance Cpl. Chris Fowlkes' body was returned to his hometown of Gaffney. Hundreds of people turned out as a living memorial to his ...

New Zealand Economy Emerges From Recession, Currency Rises

dry — Wed, 23 Sep 2009 02:23:28 GMT

New Zealand Economy Emerges From Recession, Currency Rises Sept. 23 (Bloomberg) -- New Zealand emerged from its worst recession in three decades, unexpectedly expanding for the first time in six quarters on rising consumer spending and exports of logs and dairy products. The nation�s currency surged. Gross domestic product increased 0.1 percent in the three months to June 30 following a 0.8 percent drop in the first quarter, Statistics New Zealand said in Wellington today. The median ...

N.Z. Dollar Reaches 2009 High on Current Account, Milk Payouts

dry — Tue, 22 Sep 2009 02:45:22 GMT

N.Z. Dollar Reaches 2009 High on Current Account, Milk Payouts Sept. 22 (Bloomberg) -- The New Zealand dollar rose to the highest in more than a year after the nation�s current account gap shrank to the least since 2004 as a proportion of the economy. Australia�s currency advanced. The so-called kiwi also climbed for the first time in four days after Auckland-based Fonterra Cooperative Group Ltd., the world�s largest dairy exporter, raised its milk price forecast for the coming ...

Bank of America Agrees to Pay $425 Million for Merrill Backstop

wyogal — Tue, 22 Sep 2009 00:22:08 GMT

Bank of America Agrees to Pay $425 Million for Merrill Backstop By Margaret Popper and David Mildenberg Sept. 21 (Bloomberg) -- Bank of America Corp., the biggest U.S. bank, agreed to pay the government $425 million for an unused guarantee of Merrill Lynch & Co.�s assets as the bank tries to cut reliance on federal support after two bailouts. The Treasury Department, Federal Reserve and Federal Deposit Insurance Corp. will get the money, according to a Bank ...

War of Words on Banker Pay May Melt Into Accord at G-20 Talks

wyogal — Sun, 20 Sep 2009 00:41:02 GMT

War of Words on Banker Pay May Melt Into Accord at G-20 Talks By Ian Katz Sept. 19 (Bloomberg) -- Global leaders meeting at the Group of 20 summit in Pittsburgh next week are moving toward a compromise on compensation rules that fall short of the political rhetoric branding banker pay a worldwide disgrace. Pay caps, once pushed by French President Nicolas Sarkozy, were excluded from recommendations made by finance officials this month. European leaders now may be willing to ...

A high demand for new banknotes after the payment of salaries اCongestion in the banks and �lines� in front of ATMs

day dreamer — Fri, 18 Sep 2009 04:16:59 GMT

BOA Corp Board Members subpoenae

KC — Thu, 17 Sep 2009 02:43:04 GMT

September 16th, 2009 Andrew Cuomo subpoenas Tommy Franks Posted by: Rolfe Winkler From WSJ:

New York Attorney General Andrew Cuomo subpoenaed five Bank of America Corp. board members to testify under oath as part of his investigation into the bank�s purchase of Merrill Lynch & Co., according to a person familiar with the investigation. Mr. Cuomo is seeking to discover whether Bank of America directors withheld information from shareholders. The five subpoenaed ...

BOA and Unarmed Man

bwrigh10 — Tue, 15 Sep 2009 22:30:06 GMT

Anybody hear that BOA refused to let an unarmed man (no arms) process a check because he could not be fingerprinted? I heard it was talked about on the radio and supposedly talked about on one of the morning TV shows. Just wondering if it is true? If so, this is really a sad situation...

Debtor's Revolt: Woman Refuses To Pay Off Bank Of America Credit Card (VIDEO)

ksp — Mon, 14 Sep 2009 23:05:26 GMT

http://www.huffingtonpost.com/2009/09/14/debtors-revolt-woman-refu_n_285394.html Minch told the Huffington Post she fulfilled part of her threat on Saturday, when she went to her local BofA branch and closed out her checking and savings accounts. She took her money (around $5,000, she said) and put in a local community bank.

How the Giants of Finance Shrunk, Then Grew, Under the Financial Crisis

ksp — Sun, 13 Sep 2009 18:55:58 GMT

Just use the slider on the top of the page

http://www.nytimes.com/interactive/2009/09/12/business/financial-markets-graphic.html

US Treasury proposes int'l capital accord for banks

rocky — Fri, 04 Sep 2009 11:29:28 GMT

US Treasury proposes int'l capital accord for banks 2009-09-03 21:20 http://articlesofinterest-kelley.blogspot.com/2009/09/us-treasury-proposes-intl-capital.html

SAUDI BANKS READY TO TOPPLE

ksp — Fri, 11 Sep 2009 21:37:33 GMT

http://www.financialsense.com/fsu/editorials/willie/2009/0910.html SAUDI BANKS READY TO TOPPLE Saudi banks are beginning to topple, soon to cause deep ripples across the globe. Meanwhile, Saudi royals are under threat of assassination. The Saudi Arabian central bank announced it will not purchase the debts from two family businesses after a major default. The Saudi Arabian Monetary Agency will not cover the debt from Ahmad Hamad Algosaibi & Brothers and Maan al-Sanea�s Saad ...

Failed Bank List

KC — Sun, 30 Aug 2009 00:51:34 GMT

Failed Bank List The FDIC is often appointed as receiver for failed banks. This page contains useful information for the customers and vendors of these banks. This includes information on the acquiring bank (if applicable), how your accounts and loans are affected, and how vendors can file claims against the receivership. Failed Financial Institution Contact Search displays point of contact information related to failed banks. This list includes banks which have failed since October 1, ...

Compass, one of the first banks to ever deal in the Dinar- Just bought

Neno — Sat, 29 Aug 2009 22:52:42 GMT

Compass, one of the first banks to ever deal in the Dinar just bought one of my banks, Guaranty Banks. I just got my letter in the Mail today. I will post the Internet news for you instead of my Letter.. Austin-based Guaranty Bank was closed Friday and sold to BBVA Compass of Birmingham, Ala. The move was widely expected given Guaranty Bank�s financial straits. Guaranty Bank warned in late June that it was close to failure. Guaranty operated 103 branches in Texas and 59 in California, ...

Kokusai, Biggest Asia Bond Fund, Buys Its First World Bank Debt

dry — Fri, 28 Aug 2009 19:49:07 GMT

Kokusai, Biggest Asia Bond Fund, Buys Its First World Bank Debt Aug. 26 (Bloomberg) -- Kokusai Global Sovereign Open Fund, Asia�s biggest bond fund, is buying securities sold by the World Bank and the European Investment Bank for the first time to capture the extra yield they offer over government debt. Global Sovereign is also snapping up bonds from other development banks, so-called supranational borrowers, including the Nordic Investment Bank and KfW Group in Germany, said Masataka ...

UNDG Iraq Trust Fund (UNDG ITF) and the World Bank Iraq Trust Fund (WB ITF) progress reports

dry — Fri, 28 Aug 2009 02:21:45 GMT

This is an old article, but thought it has vital information. UNDG Iraq Trust Fund (UNDG ITF) and the World Bank Iraq Trust Fund (WB ITF) progress reports Final Statement of IRFFI Donor Committee Meeting Naples, Italy, 18 February 2009 The IRFFI Donor Committee expressed its appreciation to Italy for hosting the Eighth IRFFI Donor Committee Meeting in Naples and in particular to Ambassador Gianludovico de Martino, Deputy Minister Dr. Ismail and United Nations (UN) ...

Bank AlBilad selects ABANA group Co. to replace their existing teller currency counting machinces.

dry — Wed, 26 Aug 2009 04:32:58 GMT

Riyadh, KSA - Bank AlBilad has appointed ABANA Enterprises Group Co. to replace their existing teller currency counting machines. ABANA has completed the installation of Magner75 Plus across all Bank AlBilad and Enjaz branches. The project addresses the goal of the Saudi Arabian Monetary Agency (SAMA) to protect the national economy against all sorts of fraud. The Magner75 Plus offers sophisticated technology that allows accurate and high-speed currency counting and reliable counterfeit ...

Bank of America Shuns Sales of Card Debt, Ducks Subprime Label

wyogal — Mon, 24 Aug 2009 16:38:58 GMT

Bank of America Shuns Sales of Card Debt, Ducks Subprime Label By Peter Eichenbaum and Sarah Mulholland Aug. 24 (Bloomberg) -- Bank of America Corp., saddled with the worst credit-card default rates among its biggest rivals, is shunning the asset-backed securities market it tapped for $13.7 billion last year. JPMorgan Chase & Co., Citigroup Inc. and American Express Co. are among issuers that sold $21 billion of card-backed debt this year through the Term Asset-Backed ...

ECB Warns of �Bumpy Road� as Officials Signal No Stimulus Exit

dry — Mon, 24 Aug 2009 03:07:00 GMT

ECB Warns of �Bumpy Road� as Officials Signal No Stimulus Exit Aug. 24 (Bloomberg) -- European Central Bank officials led by President Jean-Claude Trichet greeted mounting evidence of an economic recovery with caution, suggesting they won�t rush to reverse their emergency stimulus. �We see some signs confirming that the real economy is starting to get out of the period of freefall,� Trichet said at the Federal Reserve�s annual symposium in Jackson Hole, Wyoming, on Aug. 22. This �does ...

Zloty, Koruna Gain on German Services, JPMorgan Stocks Upgrade

dry — Mon, 24 Aug 2009 03:04:57 GMT

Zloty, Koruna Gain on German Services, JPMorgan Stocks Upgrade Aug. 21 (Bloomberg) -- The Polish zloty led east European currencies higher on signs the economy of the country�s biggest trade partner is recovering and after JPMorgan Chase & Co. upgraded its equities. The zloty advanced 1.1 percent to 4.0978 per euro at 4:03 p.m. in Warsaw, climbing for a fourth day in the longest winning streak since July 27. The Czech koruna appreciated as much as 0.4 percent to 25.390 against ...

�Toxic Cocktail� Pound to Weaken Against Euro, Citigroup Says

dry — Mon, 24 Aug 2009 03:02:15 GMT

�Toxic Cocktail� Pound to Weaken Against Euro, Citigroup Says Aug. 21 (Bloomberg) -- The pound will extend declines against the euro as a �toxic cocktail� hurts the U.K. currency, Citigroup Inc. said. �The precarious state of banks, sub-par growth prospects and the extension of quantitative easing all undermine the pound,� Michael Hart, a currency strategist in London, wrote in a research report yesterday. �What is more, the fiscal deficit is widening beyond both plan and market expectations ...

Nordic Currencies: Norway�s Krone Advances as Oil Price Rises

dry — Mon, 24 Aug 2009 03:00:30 GMT

Nordic Currencies: Norway�s Krone Advances as Oil Price Rises Aug. 21 (Bloomberg) -- The krone posted its sixth weekly advance versus the euro, the longest series of gains since February, as gains in the oil price added to optimism Norway�s economy will keep growing after emerging from a recession. The Norwegian currency strengthened to below 6 kroner per dollar for the first time since October after crude oil, the country�s biggest export earner, rose to the highest level this year. ...

Emerging-Market Funds Post Biggest Outflows of 2009 (Update3)

dry — Mon, 24 Aug 2009 02:55:23 GMT

Emerging-Market Funds Post Biggest Outflows of 2009 (Update3) Aug. 21 (Bloomberg) -- Global emerging-market equity funds posted their biggest weekly outflows of 2009 as investors pulled money out of China on concern banks expanded credit too rapidly, EPFR Global said. Funds that invest in emerging-market stocks worldwide lost $946 million, while China funds had their worst week since the first quarter of 2008, according to the Cambridge, Massachusetts-based research company. Investors ...

Malaysian Three-Year Swaps Attractive as Rate on Hold, DBS Says

dry — Mon, 24 Aug 2009 02:48:03 GMT

Malaysian Three-Year Swaps Attractive as Rate on Hold, DBS Says Aug. 24 (Bloomberg) -- Investors should lock in Malaysian fixed interest rates because the market is pricing in too rapid an increase in borrowing costs, DBS Group Holdings Ltd. said. A three-year swap rate of 3.06 percent offers 92 basis points more than the Kuala Lumpur three-month inter-bank offered rate, or the Klibor, about double the average spread this year, according to data compiled by Bloomberg. The swap rate ...

Brazil�s Real Advances on Improved Outlook for Global Economy

dry — Mon, 24 Aug 2009 02:45:11 GMT

Brazil�s Real Advances on Improved Outlook for Global Economy Aug. 21 (Bloomberg) -- Brazil�s real advanced, capping a weekly gain, as better-than-estimated economic data from Europe and the U.S. bolstered speculation that the global recession is easing and demand for commodities may rise. The currency rose 0.8 percent to 1.8299 per U.S. dollar at 5:08 p.m. New York time, from 1.8442 yesterday. Today�s rise extended the real�s weekly gain to 1 percent. The real has gained 26 percent ...

Argentine Govt To Launch Inflation Debt Swap In Days -Telam

dry — Sat, 22 Aug 2009 02:52:22 GMT

Argentine Govt To Launch Inflation Debt Swap In Days -Telam BUENOS AIRES (Dow Jones)--Argentina's government is planning to launch a swap for inflation-linked debt "in the next few days," the government news service, Telam, reported Wednesday. The swap will target the Boden 2014s and the Pre-09 debt, or about 20 billion Argentine pesos ($5.2 billion) of debt, according to the news service, which cited Economy Ministry sources in the Brazilian capital, Brasilia. Argentine ...

FDIC May Add to Special Fees as Mounting Failures Drain Reserve

dry — Thu, 20 Aug 2009 05:04:29 GMT

FDIC May Add to Special Fees as Mounting Failures Drain Reserve Aug. 20 (Bloomberg) -- Colonial BancGroup Inc.�s collapse and the prospect of mounting failures among regional lenders may prompt the Federal Deposit Insurance Corp. to impose a special fee as soon as next month to boost reserves by $5.6 billion. The FDIC board might act sooner than expected after the Aug. 14 failure of Alabama-based Colonial cost the agency�s insurance fund $2.8 billion, and as banks such as Chicago-based ...

Switzerland to Sell $5.6 Billion UBS Stake After U.S. Accord

dry — Thu, 20 Aug 2009 04:42:53 GMT

Switzerland to Sell $5.6 Billion UBS Stake After U.S. Accord Aug. 20 (Bloomberg) -- The Swiss government said it plans to sell its 6 billion-franc investment in UBS AG, the country�s biggest bank, by today after signing an agreement with the U.S. yesterday over data on bank clients suspected of evading taxes. The government gave a mandate to three Swiss and foreign banks to sell 332.2 million UBS shares, securing a certain minimum price, Peter Siegenthaler, director of the federal ...