Full text: Moody’s downgrades Canadian banks
Moody's Investor Service released the following note in conjunction with a ratings action it took on Canadian banks today.
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Browsing Tag
banks
Will Britain be forced out?
I want to briefly reiterate the theme of an October post on Britain's role in Europe because of a speech the Prime Minister David Cameron made earlier today. Cameron, in a major speech in London, promised that if his party wins the next…
German banks need more capital than Spanish ones according to OECD
The Organization for Economic Cooperation and Development (OECD) believes that eurozone banks still have much work to do to strengthen their capital. They warn that many of the entities currently are still below a capital ratio of 5% of…
Converting Irish debt controlled by Troika
Back in October of last year the Irish Finance Minister Michael Noonan said that his government's goal is to be able to complete the three-year Troika bailout on time and resume normal operation late in 2013. Now that Ireland has regained…
Ireland regains market access for both government and bank bonds
In yesterday's links, I pointed to two links showing that Ireland had regained bond market access. Here is more evidence that Ireland is regaining bond market access.
All Hail Mario Draghi: The Spanish Bank Run is Over for Now
The Spanish bank run caused by redenomination risk is over. And Spanish bond yields are now back to around the 5% level today. Apparently, the ECB's monetisation scheme has worked - and without Spain's having entered a Troika program yet…
The Fed cannot support net interest margins
On Christmas Eve, the Wall Street Journal had two interesting articles on the credit situation in the U.S., one from the banks' perspective and one from the households' perspective. In general, the data were positive but I believe the…
Bank fraud, Japanese and Australian economic woes and other sad tales
I have a panoply of links today. There is no one over-riding theme though I do want to address the Japan question in more depth at some point. I have seen some commentary from Kyle Bass and Jeffrey Gundlach on the dire straits Japan finds…
Spanish house price decline accelerates to 15.2% year-on-year
The last time I reported on the Spanish housing market in August, we were in the midst of a bank deposit run caused by the redenomination risk. This was pre-OMT. At the time, we saw an acceleration in the house price declines. House prices…
The stealth bank bailout via leveraged FHA loans
When David Stevens left his position in the Obama Administration in 2011 as the head of the Federal Housing Administration to go to head the Mortgage Bankers Association, the chief lobbyist for the industry he once regulated, I posted on…