Hints and tips:
...They come with a “super-lien”: If the borrowers fail, the FHLBs get paid first, before everyone — including the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC)....
...Congress created the Federal Deposit Insurance Corporation (FDIC) during the Great Depression to stop the rolling banking panic by guaranteeing bank deposits....
...The authors claim this triggered deposit flight from Wachovia but offer no evidence it could otherwise have stayed out of trouble....
...Since taking over Wachovia in 2008, Wells has tried to bulk up its non-retail divisions, and now ranks as the biggest lender in the US with $947bn of loans — well clear of Bank of America with $901bn and...
...The likes of Washington Mutual and Wachovia, both FDIC-insured institutions, similarly had much lower equity to asset ratios after stripping out goodwill....
...Published accounts by leading actors such as Henry Paulson, Sheila Bair and Timothy Geithner provide a narrative of bailout decisions made with respect to Bear Stearns, Lehman, Fannie Mae and Freddie Mac, Wachovia...
...Bank of America’s 2008 takeover of Merrill Lynch for $18bn and Wells Fargo’s Wachovia acquisition for almost $13bn are the next largest deals....
...Wells Fargo and Wachovia are/were mega banky, right? Why, yes they are!...
...The Federal Deposit Insurance Corporation played an important role in blocking the Citi deal. Mr Helfer is married to a former chairman of the banking regulator....
...After going to the press and the US financial regulator, which eventually fined Wachovia, Woods’ situation improved....
...Within a year of his promotion, he believed he had reached a deal to acquire Wachovia....
...In all, six banks – BNY (now Bank of New York Mellon), BB&T, Sovereign (now a unit of Santander), Wachovia (now part of Wells Fargo), Washington Mutual and Wells Fargo – participated in Stars deals with...
...But the deal had a catch: to protect it against $312bn of bad mortgage loans on Wachovia’s books, Citigroup agreed to assume the first $42bn in losses, but demanded that the Federal Deposit Insurance Corporation...
...These agreements were concluded at the time of the sale, by the dealers, of a company called The Clearing Corporation to ICE....
...Mr Minoura indicated that SMBC had so far failed to identify any attractive targets, having looked at several, including Washington Mutual and Wachovia....
...Citi will also terminate an agreement with the Federal Deposit Insurance Corporation to backstop $250bn in toxic assets....
...Mr Kelly’s position might have been undermined by his and Mr Pandit’s angry reaction to the FDIC’s decision to back Wells Fargo’s bid for Wachovia last year....
...Mr Kovacevich said he was confident that the bank’s recent $15bn acquisition of Wachovia without the benefit of guarantees from the Federal Deposit Insurance Corporation did not require any additional capital...
...Later that month, Wachovia faced intense liquidity pressures which threatened its viability and resulted in its acquisition by Wells Fargo....
...Have we overestimated WFC’s losses, or is the timing obscured by purchase accounting adjustments from the Wachovia merger?...
...Tensions between Citi and the FDIC date to last year’s abortive bid for Wachovia, when Citi acc-used regulators of switching sides and backing Wells Fargo’s counter offer....
...These ILCs allow companies to accept Federal Deposit Insurance Corporation-insured deposits, make loans to customers and issue credit cards, but are less regulated than traditional banks....
...Its clients include institutional investors, high net worth individuals and corporations....
...From Wachovia. In the history of the corporation, has there ever been a quarterly net loss that big?...
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