banks

Banks do not have enough tangible common equity to make the grade on Tim Geithner's stress tests. That means the government will have to step in and bail them out. I will call this creeping nationalization. Paul Miller of FBR Capital…

This news comes via Reuters: Bank of America Corp is carrying loans on its balance sheet marked at more than $44 billion above their fair value, the company said in its annual report filed with U.S. regulators on Friday. The bank said it…

Two more Friday night specials - story via Reuters U.S. regulators closed Security Savings Bank in Henderson, Nevada, and Heritage Community Bank in Glenwood, Illinois, the Federal Deposit Insurance Corporation said on Friday. Heritage,…

Marshall Auerback here. As Ed lucidly suggested to me by e-mail: "We see the Fed giving a loan for assets at the price as reported on the institutions' books. Otherwise, you have to take a write-down just to get the loan. That's a…

Royal Bank of Scotland just reported a record loss for a Britsh company of £24.1 billion pounds. That's about £400 for every living soul in the country:

Citigroup is looking to raise capital and shed assets in order to deleverage and prevent a worst-case outcome for the financial institution. Case and point is the fact that the company is putting its Brazilian subsidiary Redecard on the…

Since everyone seems to be talking about nationalization and pointing to Sweden as a model for the future, one should ask whether Sweden actually nationalized anything. No one is talking about outright Hugo Chavez-style expropriation here.…

Yesterday, Latvia was downgraded to junk. Despite its diminutive size, this is a big deal. Fist, it is a harbinger of what is to come for the rest of Eastern Europe. But, more importantly it is a signal that Western European banks…

Chris Whalen, a well-regarded bank analyst, ran an interview piece with Nouriel Roubini on Barry Ritholtz's site. The conversation was very illuminating and I highly recommend reading the whole post linked below. However, I wanted to point…

Denmark's 11th largest bank, Fionia Bank, has collapsed after massive writedowns of 1.2 billion Danish kroner. However, the company will not face liquidation. According to Politiken, Instead of bankruptcy, Fionia's assets will be…