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Browsing Category
Monetary System
European banks: still undercapitalised
European banks are still in need of time or money to recapitalise their weak balance sheets. This has to be especially worrying for UK banks as they have raised a significant amount of capital and their housing market has yet to see the…
Chart of the day: US Household debt
This post is part of my chart of the day series.
Royal Bank of Canada: time for takeover talks
The Globe & Mail has a storyline out today that caught my eye. It suggests that Royal Bank of Canada (RBC) would find some god takeover opportunities in the US. While I dismissed a similar storyline regarding UBS in Europe from the…
Is the Fed going to raise rates?
No! The Fed is not crazy. Market participants are forgetting that the U.S. economy is still not out of the woods. Moreover, many financial institutions are drowning in writedowns. None of this should be expected to change anytime soon.…
KeyCorp craters after dividend cut
This morning, I posted a blog entry regarding KeyCorp's wise decision to cut its dividend and to raise capital. They paid the price in the market today, sinking to a 17-year low below $12.00 a share and down 24% on the day.
Shares of…
What’s happening at Fifth Third?
Fifth Third, the Cincinnati-based regional lender, has been tanking of late. Today, it was down another 4% to close at a 12-year low.
"Shares of Fifth Third Bancorp touched a 12-year low Thursday as capital concerns continued to swirl…
KeyCorp to raise $1.5 billion, cut dividend 50%
The latest move by a regional bank comes from KeyCorp, based in Cleveland. In order to preserve capital ahead of the impending troubles headed for the regionals, KeyCorp has taken the prudent step of both raising capital and cutting its…
MBIA pulls the plug on its insurance arm
In the wake of downgrades from AAA to AA status, MBIA has pulled support for its bond insurance subsidiary. In a letter to shareholders, CEO Jay Brown said:"We confirmed to the market today that we will not be making capital contributions…
Recent additions to Credit Crisis Timeline
The following are the links regarding the global credit crunch that have been recently added to the Credit Crisis Timeline. The full timeline is accessible hereLatest Additions2008 06 02 Wall Street May Face $460 Bln in Losses, Goldman…
HBOS in trouble
In April, I wondered aloud where HBOS was in this crisis in a post called "Where's HBOS?". Now, we know they are not immune to the problems infecting global finance.The Guardian has reported on the difficulty HBOS is having raising money…