Word: bankes
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...that the bank stress tests are completed, is it time to plan another round? The government's bank exams, the results of which were released in early May, seem to have calmed the market and paved the way for the nation's largest financial firms to raise tens of billions of dollars. As a result, a number of academics and policy watchers are warming to the idea of making the stress tests permanent. They like the fact that the stress tests have restored confidence in most of the nation's largest banks. What's more, they argue that even...
...financial research reports these days. The measures that give us hints about which way the economy and markets are headed - everything from the number of people out of work to how difficult it is for companies to fund themselves are pointing in every which direction. As a new Bank of America-Merrill Lynch report puts it: 'The [stock market] indicators are fairly evenly divided between positive and negative readings...
Take sponsors. In theory, with several backers cutting ties with the sport - the recently nationalized Royal Bank of Scotland, for one, has other things on its mind - new ones could have negotiated more in the way of exposure than they might have three or four years ago. But amid squabbles over the future of Formula One, "at the moment it's not a good proposition," says Mick de Haas, a sports-sponsorship consultant with a history of involvement in Formula One deals. The sport, he says, is "destroying itself...
...Citi's exam also included a $58 billion credit titled "Other Capital Actions." The credit is for the conversion of preferred stock that Citi says it plans to do but has not yet completed. Among the other 18 banks that were examined, only one other, Bank of America, was allowed to include a similar credit in the results of its stress test. And at $1.8 billion, BofA's credit was far less a factor in the outcome of its test than Citi's was. Since the stress tests, other banks have announced plans or have been able to quickly complete...
...during Rosenberg's funeral on Monday. In the 18-minute tape, a seemingly calm Rosenberg, sitting behind a desk and microphone, alleges that Colom, the First Lady and two associates were involved in murder, corruption and money laundering. The group, he says, filtered public funds through a state-owned bank for personal gain and to finance drug traffickers. Rosenberg then claims that after Khalil Musa, a prominent businessman and bank board member, had learned of the Coloms' scheme, Musa and his daughter were shot to death in front of a shopping center in April. Rosenberg says the President signed...