Making good on bad assets
Auctions of AIG legacy portfolio delivering a solid result for the Fed
Barclays announced in September it had sold $12.3 billion of credit assets to a newly established fund called Protium Finance. The acquisition was largely financed by a loan from Barclays, meaning the bank has insulated itself against further mark-to-market...
Despite early signs the US recession may be over, the short-term future for many of the country’s small and medium-sized banks looks grim as they struggle to deal with mounting losses on whole loan portfolios. By Rob Davies
The US Treasury should expand its bank holding company stress-testing programme to include smaller firms, the Congressional Oversight Panel said on August 11.
The Royal Bank of Scotland (RBS) posted a loss attributable to shareholders of £1.04 billion for the first half of 2009 on a pro forma basis, due to £7.5 billion in impairments charges.
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With injections of government capital seemingly having little effect on restoring confidence in ailing banks, thoughts have once again turned to quarantining distressed assets. Rob Davies examines the options available to policy-makers
The approval by the US Congress of a $700 billion rescue package in October has paved the way for the US Treasury to purchase illiquid assets from banks' balance sheets. The question is: how will these assets be valued? In this month's Class Notes article,...