Word: crediteers
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According to Bloomberg, Harvard is negotiating terms on a $1.75 billion line of credit and is willing to pay back any loans at 1.25 percentage points above the London Interbank Offered Rate, a common reference point for setting floating interest rates. The University's current $2 billion line of credit, set to expire next month, allows it to borrow $250 million more at an interest rate 0.25 percentage points higher than...
Citigroup and Bank of America will set up the line of credit for the next year, Bloomberg said. In a report published last April, credit ratings agency Moody's Investors Service said the previous line of credit was funded by a consortium of banks, but it is unclear whether Citigroup and Bank of America participated. Spokesmen from Bank of America and Citigroup declined to comment...
...Moody's report noted that the $2 billion line of credit served as a source of "additional liquidity flexibility," though it does not qualify as "same-day liquidity"—a measure of an institution's ability to meet cash demands quickly. At the time, the ratings agency issued a stable outlook for Harvard's credit rating based in part on its "maintenance of strong liquidity and capital ratios...
Regardless of street credit, “fuck” is the appropriate response when the biggest media scandal in years hits the company where you work. The Guardian story exposed allegations that The News of the World—a News International newspaper—is rife with journalists who illegally tap the phones of thousands of prominent British figures. Journalists tend to stride to and attend the same meetings as politicians, the police, and lawyers, and consequentially figures from every one of these forums are embroiled in the scandal...
...great fear in Asia was that the region would suffer through the wealth destruction already taking place in the U.S. as a result of the financial crisis. Stock markets tumbled as exports plunged and economic growth deteriorated. Lofty property prices in China and elsewhere looked set to bust as credit tightened and buyers evaporated. (Read "China's Economic Recovery Gathers Steam...