Finance

Bank of America told Fed it could sell branches in emergency: source

Bank of America Corp (BAC.N) told Federal Reserve officials in June that it could shed branches in some parts of the country if it needed to raise capital in an emergency, a person familiar with the matter said.

US seeking to 'close down' Iran central bank

The latest round of American sanctions are aimed at shutting down Iran's central bank, a senior US official said Thursday, spelling out that intention directly for the first time.


Fitch cuts ratings on 8 major banks

Fitch Ratings on Thursday downgraded its viability ratings on eight of the world's biggest banks, citing increased challenges facing the banking sector due to weak economic growth and heightened regulation.

Europe ramps up rescue fund, may turn to IMF

Jan Strupczewski and Valentina Za Yahoo! Finance 30.11.2011
Europe ramps up rescue fund, may turn to IMF

Euro zone ministers agreed on Tuesday to ramp up the firepower of their rescue fund but couldn't say by how much and raised the possibility of asking the IMF for more help after Italy's borrowing costs hit a euro lifetime high of nearly 8 percent.


Secret Fed Loans Gave Banks $13 Billion

Bob Ivry, Bradley Keoun and Phil Kuntz Bloomberg.com 29.11.2011
Secret Fed Loans Gave Banks $13 Billion

The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing.

IMF resources adequate: Lagarde

Breitbart.com 18.10.2011
IMF resources adequate: Lagarde

IMF chief Christine Lagarde said Monday the fund had adequate resources to deal with the debt crisis affecting the world economy.


Italy, Spain Ratings Cut by Fitch; Belgium Is Put Under Review by Moody’s

Lorenzo Totaro and Emma Ross-Thomas Bloomberg.com 08.10.2011
Italy, Spain Ratings Cut by Fitch; Belgium Is Put Under Review by Moody’s

Fitch Ratings downgraded Italy and Spain on concern they will struggle to improve their finances as Europe’s debt crisis intensifies, while Moody’s Investors Service put Belgium on review for a possible cut.

Moody’s Cuts Rating on 12 UK Financial Institutions

Antonia van de Velde CNBC 08.10.2011
Moody’s Cuts Rating on 12 UK Financial Institutions

Moody’s ratings agency lowered the rating of 12 U.K. financial institutions on Friday, saying it sees a decreased likelihood of government support for smaller institutions in particular but specifying the move does not reflect a deterioration in t...


World facing worst financial crisis in history, Bank of England Governor says

The world is facing the worst financial crisis since at least the 1930s “if not ever”, the Governor of the Bank of England said last night.

Christine Lagarde: IMF may need billions in extra funding

Louise Armitstead and Jonathan Russell Telegraph 26.09.2011
Christine Lagarde: IMF may need billions in extra funding

Christine Lagarde has signalled that the International Monetary Fund (IMF) may have to tap its members – including Britain – for billions of pounds of extra funding to stem the European debt crisis.


Warnings mount on euro crisis, BRICS mull more aid

David Lawder and Walter Brandimarte GMA News 23.09.2011
Warnings mount on euro crisis, BRICS mull more aid

World leaders and finance chiefs pushed Europe to quell its debt crisis and big emerging economies said they might provide more money to help stop the chaos from spreading.

Moody's downgrades big US banks on changed policy

Joe Rauch and David Henry Reuters 22.09.2011
Moody's downgrades big US banks on changed policy

Moody's Investors Service lowered debt ratings for Bank of America Corp, Citigroup Inc and Wells Fargo & Co on Wednesday, saying the U.S. government is getting less comfortable with bailing out large troubled lenders.


Standard and Poor's cuts Italy ratings one notch, outlook negative

Standard and Poor's downgraded its unsolicited ratings on Italy by one notch to A/A-1 and kept its outlook on negative, a major surprise that threatens to add to concerns of contagion in the debt-stressed euro zone.

Europe's debt crisis prompts central banks to provide dollar liquidity

Larry Elliott, Dominic Rushe The Guardian 16.09.2011
Europe's debt crisis prompts central banks to provide dollar liquidity

Fears of a deepening of Europe's debt crisis have prompted the world's leading central banks to pump US dollars into the financial system, in a co-ordinated action designed to boost market confidence.


EU warned of credit crunch threat; Moody's downgrades 2 French banks

John O'Donnell and Lionel Laurent Reuters 15.09.2011
EU warned of credit crunch threat; Moody's downgrades 2 French banks

European finance ministers have been warned confidentially of the danger of a renewed credit crunch as a "systemic" crisis in euro zone sovereign debt spills over to banks, according to documents obtained by Reuters on Wednesday.

HSBC to Apply for Extra Quota for Yuan Bond Investments in China

HSBC Holdings Plc, Europe's biggest bank, said it will apply for an additional investment quota to buy bonds in China as its yuan deposits in Hong Kong surge.


HSBC to sell general insurance arm for $1 billion as CEO Gulliver moves on divestment plans

HSBC wants to sell its general insurance business for an estimated $US1 billion ($967 million) as the chief executive presses ahead with plans to offload the bank's non-essential assets.

Hong Kong's Choi family back out of RAB deal -FT

Hong Kong's billionaire Choi family has backed out of plans to acquire funds from RAB Capital , the Financial Times reported on Wednesday.


US Inquiry Eyes S&P Ratings of Mortgages

Louise Story CNBC 18.08.2011
US Inquiry Eyes S&P Ratings of Mortgages

The Justice Department is investigating whether the nation’s largest credit ratings agency, Standard & Poor’s, improperly rated dozens of mortgage securities in the years leading up to the financial crisis, according to two people interviewed by t...

Return of the Gold Standard as world order unravels

Ambrose Evans-Pritchard Telegraph 15.07.2011
Return of the Gold Standard as world order unravels

As the twin pillars of international monetary system threaten to come tumbling down in unison, gold has reclaimed its ancient status as the anchor of stability. The spot price surged to an all-time high of $1,594 an ounce in London, lifting silver...



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