Word: bankses
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Now 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...
Already, the IMF has recommended that European regulators follow the U.S.'s lead and run stress tests on their banks. And there are hints from the Federal Reserve that at least some aspects of the stress tests will become part of the ongoing regulatory system. Fed Chairman Ben Bernanke has...
Then there is the financial system. Problems tied to bad loans persist. The latest victim came forward on Tuesday: small-business credit-card issuer Advanta said it would shut down all of its cardholders' accounts after billowing losses threatened its viability. And yet elsewhere the credit markets seemed downright rosy...
The biggest sticking point in any bid to avoid bankruptcy is the complexity of GM's debts. Chrysler's 40-odd creditors could fit into a large conference room. GM's creditors, however, could fill up most of the seats in the University of Michigan's football stadium. The bondholders...
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...