capital

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…

The Telegraph reported that UBS, the giant Swiss Bank, had its shares suspended twice yesterday as it tried to mount a share rights issue while its shares plummeted to a 52-week low. UBS is trying to raise 16 billion Swiss Francs (about $16…

RBS failed to get all the money it needed for its rights issue with 300 million shares still in the hands of its underwriters, reports the FT. These shares are to be sold today. This massive $24 billion (£ 12 billion) shows the limits of…

This sounds a lot like Bradford and Bingley in the UK. Lehman is really on the edge of collapsing. They need the money....NOW! One must believe the second leg down in bank credit write-offs and the credit crunch has started.By Steve…

The Globe & Mail is reporting that Lehman Brothers might have to go back to the capital raising trough again in order to shore up a leveraged and risky balance sheet. In the face of yesterday's credit downgrade by S&P, this sounds…

The Times reports today that Bradford and Bingley was rescued from the verge of collapse by private equity investors. This follows their report at the weekend on the dismissal of the Chief Executive and the profit warning they have issued.…

This in from the Times today: Bradford & Bingley is in big trouble. They are trying to do a rights issue and issue a profit warning at the same time. Can anyone tell me how one gets shareholders to pony up another 88p to buy a stock…

Another side effect of the credit crunch is the lack of availability of cheap debt financing for businesses. Companies have two alternatives: they can hold off on needed financing until the credit markets are more inviting or they can…

As I predicted on Saturday, HBOS has got caught up in the global mortgage meltdown. Bloomberg reports:HBOS Plc, the U.K.'s biggest mortgage lender, will sell 4 billion pounds ($8 billion) of shares to bolster capital depleted by asset…

Update: Also see my list of Bankrupt global financial institutions. Recently, the pace of writedowns by major money center banks has increased. UBS announced today it wrote down $19 billion. Deutsche Bank announced today it wrote down $4…