| Banks and banking, money market, credit | Page 1 Page 2 | | Billions in Bank Rescue Funds are Fueling Buyout Deals, and not the Increase in Loans That Would Help Ease the Financial Crisis
Thursday, October 30th, 2008 - By William Patalon III
Executive Editor - Money Morning/The Money Map Report
While the U.S. government’s plan to invest $250 billion into U.S. financial institutions has been billed as a strategy that will bolster the health of the banking system and also jump-start lending, the recapitalization plan is likely to have a secondary effect – one that whipsawed U.S. taxpayers likely won’t be very happy to learn about. | Deutsche Bank Derivatives Loss May Top $400 Million (Update2)
By Jacqueline Simmons and Jonathan Keehner
Oct. 27 (Bloomberg) -- Deutsche Bank AG, Germany's biggest bank, lost more than $400 million on equity derivatives trades as stock markets headed for their biggest rout since the 1930s, two people with direct knowledge of the matter said.
The loss, equal to almost half of the Frankfurt-based company's second-quarter revenue from equity sales and trading, is a black eye for Richard Carson, global head of equity derivatives, and may signal more job losses at the bank. | European banks rescue plan agreed.
19:56 GMT, Sunday, 12 October 2008 20:56 UK (BBC)
European leaders meeting in Paris have agreed a plan to tackle the banking crisis, saying no big institution will be allowed to fail. They pledged to guarantee loans between banks until the end of 2009, and said they would put money into them by buying preference shares. French President Nicolas Sarkozy said they were taking unprecedented steps. | US to buy stake in banks; first since Depression
Friday October 10, 11:52 pm ET - By Jeannine Aversa, AP Economics Writer
US to buy ownership stake in a broad array of banks for the first time since Great Depression
WASHINGTON (AP) -- The government will buy an ownership stake in a broad array of American banks for the first time since the Great Depression, Treasury Secretary Henry Paulson said late Friday, announcing the historic step after stock markets jolted still lower around the world despite all efforts to slow the selling stampede | The Next Meltdown: Credit-Card Debt
Rising rates are accelerating credit-card defaults and soured debt could further undermine the financial system
by Jessica Silver-Greenberg - October 9, 2008, 5:00PM EST - (Business Week) | Creditex is the global market leader in execution of credit derivatives. The first and leading e-trading platform in credit derivatives, Creditex is used by more than 1000 credit derivative traders at the world's top financial institutions. The platform has executed over $3 trillion notional this year in credit default swap (CDS) indices, single-name CDS and standardized structured credit products. Creditex has received numerous accolades in leading financial media including Credit, Euromoney, Forbes, IFR, Institutional Investor and Risk. | IJsland neemt ook controle over bij Kaupthing
REYKJAVIK - De regering van IJsland heeft donderdag de volledige controle overgenomen bij Kaupthing, de grootste bank van het land. Eerder werd ook al de bank Landsbanki onder curatele van de overheid geplaatst en werd Glitnir Bank volledig genationaliseerd.
Kaupthing is in ons land vooral bekend van zijn internet-spaarrekening Kaupthing Edge, die 4,25 procent basisrente oplevert plus 2 procent aangroeipremie, samen de beste voorwaarden op de Belgische markt. | Bank earnings don't look pretty
After Bank of America's big profit tumble, other banking giants like Citi and JPMorgan Chase are expected to take it on the chin as the banking crisis intensifies.
By David Ellis, CNNMoney.com staff writer - Last Updated: October 8, 2008: 3:23 PM ET
NEW YORK (CNNMoney.com) -- In case you forgot that the nation's financial system is a mess, banks will offer up a reminder next week when they are expected to start reporting another brutal round of quarterly results.
Earlier this week, Bank of America (BAC, Fortune 500) offered a glimpse of just how abysmal things will be. The Charlotte, N.C.-based bank issued its earnings more than a week in advance, posting a 68% decline in profits that fell far short of analysts' estimates. | Europe: The new Wall Street?
Many big European institutions are just as heavily leveraged as Lehman Brothers was before its demise.
By Colin Barr, senior writer - Last Updated: October 6, 2008: 5:23 PM ET
NEW YORK (Fortune) -- Leverage, the menace that helped bring down some of the biggest names on Wall Street, is now threatening the health of big banks across the Atlantic.
The credit crunch that led to the failure or forced sale of seven big U.S. financial firms last month is now wreaking its havoc on Europe. Four major financial institutions have been rescued in just the past week, and financial shares are in free fall as investors fret that more banks will need help. | Money-Market Rates Climb as Banks Hoard Cash, Crisis Deepens
By Gavin Finch and Lukanyo Mnyanda
Oct. 6 (Bloomberg) -- Money-market rates climbed worldwide as banks hoarded cash on speculation the seizure in credit markets is deepening and may prompt more financial institutions to collapse.
The London interbank offered rate, or Libor, that banks charge each other for overnight dollar loans rose 37 basis points to 2.37 percent today, the British Bankers' Association said. The three-month rate stayed near the highest level since January. Asian rates increased and the Libor-OIS spread, a gauge of cash scarcity among banks, held near a record. | A “delicate and undesired position” for UBS
Formerly the most powerful financial institution in Europe, UBS was under intense pressure again on Tuesday - traders rattled by this story in the FT and by news that Merrill Lynch has removed the bank from its “Europe 1″ recommended investment list.
Some have been predicting a profits warning from UBS as it enters the third quarter. Instead, what we have got is a boardroom clearout, with the surprise resignation of four of the bank’s longest serving directors. |
BNP Paribas is a European leader in banking and financial services, with a significant and growing presence in the United States and leading positions in Asia. The Group has one of the largest international banking networks, a presence in over 85 countries and 169,800 employees including: 130,000 in Europe - among whom 19,700 in Italy and 64,100 in France and in the Overseas Departments; 15,000 in North America and 9,800 in Asia.
1st largest French company and 5th in the banking industry worldwide, 1st bank in the Euro Zone | ING is a global financial services company providing banking, investments, life insurance and retirement services. We serve more than 75 million customers in Europe, the United States, Canada, Latin America, Asia and Australia. We draw on our experience and expertise, our commitment to excellent service and our global scale to meet the needs of a broad customer base, comprising individuals, families, small businesses, large corporations, institutions and governments. Based on market capitalisation (31 March 2008), ING is one of the 20 largest financial institutions worldwide. | Rabobank Groep
De Rabobank Groep is een financiële dienstverlener op coöperatieve ... Een carrière bij de Rabobank Groep. Actuele vacatures, traineeship en stages. ... | DSB Bank is een sterk groeiende financiële dienstverlener. Er worden diverse zeer aantrekkelijke financiële producten geleverd aan particulieren. De bank heeft een fors marktaandeel van circa 17% op het gebied van consumptief krediet. Ook in het buitenland is DSB Bank actief. DSB zoekt lening van €100 miljoen (dinsdag 3 juni 2008 12:43)
Uit een vertrouwelijke aanbieding van tussenpersoon Fusio Capital blijkt dat DSB/Scheringa even snel als discreet geld nodig heeft. 'Hoe kan Cliënt (Scheringa/DSB, red 925) een lening van resp €100 Mio worden verstrekt en wel zodanig dat deze uit het zichtveld van zijn concurrenten blijft', stelt de Nijmeegse tussenpersoon Fusio Capital. Zonder de naam van Scheringa en DSB direct te noemen schermt Fusio met de naam van Zalm, 'een voormalig Min. van Fin., de 2e man die ik zelf goed ken'. Ook wordt er voorgesteld 'de transactie te laten lopen via een trust in Cyprus of Roemenië.' In de stukken wordt gerept over rentetarieven van '4,01 boven Euribor', ofwel tien jaar vast tegen zo'n 9 procent. Fors. Kom daar maar eens om bij DSB.
| Bank on this: bank failures will rise in next year
Sunday October 5, 3:27 pm ET - By Michael Liedtke, AP Business Writer
Financial crisis likely to yield biggest banking shakeout since savings-and-loan meltdown
SAN FRANCISCO (AP) -- Here's a safe bet for uncertain times: A lot of banks won't survive the next year of upheaval despite the U.S. government's $700 billion plan to restore order to the financial industry.
The biggest question is how many will perish and how they will be put out of their misery -- in outright closures by regulators scrambling to preserve the dwindling deposit insurance fund or in fire sales made under government pressure.
Enfeebled by huge losses on risky home loans, the banking industry is now on the shakiest ground since the early 1990s, when more than 800 federally insured institutions failed in a three-year period. That was during the clean-up phase of a decade-long savings-and-loan meltdown that wound up costing U.S. taxpayers $170 billion to $205 billion, after adjusting for inflation. | | WaMu becomes biggest bank to fail in US history
Friday September 26, 1:36 am ET - By Marcy Gordon, Sara Lepro and Madlen Read, AP Business Writers
JPMorgan Chase buying Washington Mutual's assets for $1.9 billion after FDIC seizes bank
NEW YORK (AP) -- As the debate over a $700 billion bank bailout rages on in Washington, one of the nation's largest banks -- Washington Mutual Inc. -- has collapsed under the weight of its enormous bad bets on the mortgage market.
The Federal Deposit Insurance Corp. seized WaMu on Thursday, and then sold the thrift's banking assets to JPMorgan Chase & Co. for $1.9 billion.
Seattle-based WaMu, which was founded in 1889, is the largest bank to fail by far in the country's history. Its $307 billion in assets eclipse the $40 billion of Continental Illinois National Bank, which failed in 1984, and the $32 billion of IndyMac, which the government seized in July. | Institutional Risk Analytics
Institutional Risk Analytics provides Basel II bank risk management, Sarbanes-Oxley audit assurance, and operational risk metrics services. September 20 - Christopher Whalen, senior vice president and managing director of Institutional Risk Analytics, has predicted that 110 banks with assets worth $850 billion are in danger of failing by next summer. He said the Treasury Department's rescue plan hasn't given him reason to be more optimistic. | ECB, Fed, others pump billions into money markets
Thursday September 18, 5:47 am ET - By Matt Moore, AP Business Writer
ECB, Fed, British, Japanese central banks to pump billions more dollars into money markets
FRANKFURT, Germany (AP) -- Europe's major central banks banded together with their counterparts in Japan, the U.S. and Canada on Thursday to inject as much as $180 billion into global money markets in a bid to stave off the growing global financial crisis. | Federal Reserve: http://www.federalreserve.gov Bank of Canada: http://www.bank-banque-canada.ca Bank of England: http://www.bankofengland.co.uk Bank of Japan: http://www.boj.or.jp Swiss National Bank: http://www.snb.ch | China Banking Regulator Commission: http://www.cbrc.gov.cn Industrial & Commercial Bank of China Ltd.: http://www.icbc-ltd.com ECB European Central Bank: http://www.ecb.int/home/html/index.en.html | ECB: European Central Bank home page
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