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...into bank parent companies....
...Reserve, the Federal Deposit Insurance Corporate and the Office of the Comptroller of the Currency who are designing the rules....
...But crises happen in 8Ks — the normally innocuous ad hoc filings that also accompany company emergencies — not 10Ks....
...The German insurance association recently warned of a “massive increase in payment defaults” after credit insurers paid out more than €1.2bn in 2023, up 44 per cent on 2022....
...Legislation broadened both the eligible membership and the mission in the 1980s and 1990s: Commercial banks, credit unions, and non-depository community development financial institutions (CDFIs) were also...
...Blackstone will combine its insurance and credit businesses into an integrated unit called Blackstone Credit & Insurance, which chief executive Steve Schwarzman says could grow to manage $1tn in the next...
...Take banking union (unification of banking regulations, a harmonised approach to resolution and deposit insurance, and removal of barriers to cross-border banking)....
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...In the case of the US, it was really three big fiscal packages [that included] stimulus cheques, support in the form of child tax credit expansion, payroll protection programmes and expanded employment insurance...
...Data last week from the FHLB Office of Finance reported that US banks and credit unions had $880bn in outstanding loans at the end of June from the entities, which specialise in providing financing to banks...
...He added that there was no equivalent of the Federal Deposit Insurance Corporation in Europe so banks and regulators “really make sure they don’t have problems precisely because they know they cannot pass...
...Small businesses probably can’t obtain credit from large banks on the same terms that a regional bank could provide....
...An important consideration is whether a company’s use of the technology is covered by insurance, says Palmina Fava, a partner at Vinson & Elkins....
...Among the most high-profile failures, Silicon Valley Bank was shut down by the Federal Deposit Insurance Corporation in early March, while Credit Suisse was forcibly sold to Swiss rival UBS a week later....
...After receiving a recommendation from the boards of the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve, Treasury Secretary Yellen, after consultation with the President, approved actions...
...“Liquidity stress testing/rules present an area where all countries need to do more work,” says Sheila Bair, former chair of the US Federal Deposit Insurance Corporation....
...US president Joe Biden on Thursday called on regulators to toughen rules for large regional banks, something that the Federal Reserve has already said it will examine....
...The three banks clubbed together to fire off letters to regulators at the Fed, Federal Deposit Insurance Corporation and Office of Comptroller of the Currency, claiming that the change would allow them “...
...The failure of one of Drexel’s biggest clients, the Executive Life Insurance Company, destroyed the retirement incomes of thousands of Americans....
...Deposit Insurance Corporation data....
...General Motors chief executive Mary Barra, the daughter of a union machinist, comes from a family that has collectively spent more than 80 years working at the company....
...Those passions would come in handy in the last two weeks as the Federal Deposit Insurance Corporation tapped Snyder, a Weil Gotshal lawyer-turned-banker, to sell Silicon Valley Bank and Signature Bank....
...Key economic and company reports Here is a more complete list of what to expect in terms of company reports and economic data this week....
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