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Related Special Reports
...Congress could stop this by reinstating the FDIC’s emergency authority to temporarily guarantee large business transaction accounts, as we did during the financial crisis. But it has failed to do so....
...The post-crisis Dodd-Frank financial reform law created new legal authority for this kind of decapitation, separate from the procedures the FDIC uses for smaller banks, including the three big failures last...
...As a result, more banks would need to fail for Porticoes to be able to use money it has raised — and the list of potential targets is slim....
...through two quick-fire deals for rival banks....
...Regulators have long argued for such a link as they lectured bankers to clean up their acts in the service of financial stability....
...The big banks are lending as much as they can, with the four largest US banks having $4tn of loans and leases outstanding, according to FDIC data....
...Senator Cynthia Lummis of Wyoming warned Gruenberg that he “sure as heck better do something” about the culture of the FDIC, which she described as “disgusting”....
...An FDIC spokesperson did not immediately respond to a request for comment from Gruenberg....
...seen by the Financial Times....
...The FDIC, Fed and DoJ declined to comment. An OCC spokesperson said the agency had “not received a filing from Capital One regarding Discover Financial Services”....
...Blackstone is marketing the BP and BCG office known as “Cargo”, formerly home to the Financial Conduct Authority, which it bought in 2014 for about £165mn....
...The relatively high cost of deposits should make the FDIC’s new rules more palatable for lenders....
...In retrospect, the report said, “for an institution of its size, sophistication, and risk profile, the bank should have taken additional proactive measures to mitigate interest rate risk” such as selling...
...Banks hold higher allowances — for example, 10 per cent — for unsecured lending such as credit card loans, compared with 2 or 3 per cent for commercial real estate loans, which have lower default rates....
...They are right on both counts, but cleaning up last March’s banking ructions, small as they were, cost the industry $16bn. Imagine the tab for a proper mess....
...failures, as well as hundreds of millions of losses tied to the recent devaluation of Argentina’s peso and more then $500mn in new expenses related to the winddown of its operations in Russia....
...The FDIC is right to dismiss special pleading for lenient assessments. The essence of deposit insurance is that it protects a minimum amount — in the US set at a generous $250,000....
...Since 2009, the FDIC has issued 86 new insured commercial bank charters....
...For context, single-family residential mortgages made up 34% of FDIC-insured bank loan books in 2009, a far higher level than the 9.3% of loan books currently made up by CRE loans....
...AlixPartners has been appointed as receiver at B.UK, they added. Sir Frederick and the late Sir David Barclay acquired the newspapers in 2004. Lloyds has written the family loans down as bad debts....
...Obviously, the same thing could happen again if a tremor comes along in the financial markets and panic ensues. Investors may try to flee their money-market funds to return to FDIC-guaranteed deposits....
...Quarterly earnings were also hit by a $5bn increase in provisions for bad loans, a $4bn loss on banks’ securities portfolios, and higher costs as lenders cut staff and restructured their operations, the...
...debtors and the FDIC would absorb the losses....
...Part of the reason for the profit drop was last year’s banking turmoil — the Federal Deposit Insurance Corporation imposed a one-time charge on many US banks in order to pay for losses, which the FDIC’s...
...Investors find FHLB debt attractive due to strict collateralisation polices, implied guarantee status and the “super lien” position allowing for a priority claim should the FDIC become the receiver of a...
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