Hints and tips:
...The insured depositors are of course safe....
...“The government of Dubai emphasised that it has decided to act swiftly to ensure the preservation of all of Dubai Bank’s depositors’ interests,” the statement said....
...It’s an RMBS deal backed by mortgages of Greek civil servants (don’t ask). Where do we find it listed? Dublin, of course....
...Florida is one of the states hit hardest by the mortgage meltdown in the US, and BankUnited has billions of dollars in troubled adjustable-rate mortgages....
...The consortium comprising Richard Branson’s Virgin Money, WL Ross, Toscafund and First Eastern Investment propose injecting £1.3bn into the mortgage lender via an issue of new stock at 25p apiece....
...E-Trade, the online broker whose expansion into the mortgage market has backfired spectacularly, on Thursday unveiled its lifeline....
...troubled mortgage lender Northern Rock....
...Roosevelt became US president in 1933, the country’s banks were closed – not in protest or celebration of the inauguration, but to prevent panicking depositors from taking their money out....
...Depositors, both retail and wholesale, would face a liquidity problem....
...Under the Bank of England facility terms, Northern Rock must post collateral, in the form of mortgages or mortgage-backed securities, in return for its borrowing....
...Northern Rock’s shares were also underpinned by the government’s decision to extend its cast iron guarantee to protect depositors who put in money after September 19....
...Meanwhile, it emerged that Northern Rock is cutting about two-thirds of its mortgage range....
...The crisis prompted the first run on a British bank for almost 140 years as retail depositors attempted to get their money back, forcing the government to step in and guarantee all savings....
...That gave depositors a free option to switch the minute more generous yields became available....
International Edition