banks

This comes via Edward Hugh at "A Fistful of Euros": The governing council of the Bank of Spain has taken the decision to intervene in the operation of the Caja after carrying out an analysis of its financial position, thus taking as read…

This weekend has seen two major European financial institutions forced into the hands of government and a third on the verge of major new asset writedowns and job cuts. The events highlight the fragility of European banking and the need…

This just in from the FDIC. Another Friday night special: Omni National Bank, Atlanta, Georgia, was closed today by the Office of the Comptroller of the Currency, which then appointed the Federal Deposit Insurance Corporation (FDIC) as…

The political realities of solving a financial crisis have often meant circumventing legislative approval to meet the exigencies of a particular situation.  This was certainly the case in 1995 during the so-called Tequila Crisis in Mexico.…

Here we are just days out from the announcement by Treasury Secretary Tim Geithner that the Obama Administration will be buying up so-called toxic assets as originally planned by Henry Paulson during the Bush Administration. The initial…

This comes via Angus Robertson at Research Recap. Just as the RMBS post yesterday confirmed, moe writedowns are coming in other credit classes: In a trend likely to accelerate in 2009, the default rate on bank loans to speculative-grade…

If you haven't noticed, I think the Geithner Plan, while far from perfect, has a reasonable chance of success. Marshall, too, believes the plan could work as he has suggested in his last post. The optics of it are another matter.…

I do believe the U.S. policy response to this financial crisis is very much like the Japanese response to their crisis in the 1990s. I have a post up at "naked capitalism" making this point. I would add, however, that America is in a…

This comes from Swiss daily Le Temps (my translation): Credit Suisse will request the creation of additional conditional capital of 3.98 million at the General Meeting of April 24. The operation is to guarantee to the bank the "strategic…

From the Wall Street Journal: In the latest dramatic move by federal authorities to prop up the nation's banking system, regulators late Friday seized control of the two largest wholesale credit unions in the U.S. after finding that…