News
Merrill and Bank of America deal sparks lawsuits
Losses & Lawsuits
PWC sues Lehman Bros over European funds removal
Losses & Lawsuits
US Fed bails out AIG with $85bn
Losses & Lawsuits
European banks in wave of bailouts
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US bailout halted in Congress
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Isda prepares to settle CDSs on failed banks
The International Swaps and Derivatives Association (Isda) has launched its settlement protocol for credit default swaps (CDSs) based on the US government-backed mortgage institutions Fannie Mae and Freddie Mac.
Senior management shake-up at SG
Société Générale made several senior appointments today as part of a reshuffle of its senior management.
ALM Europe: Basel II move "a traumatic event"
Echoing concerns about the burden of new regulations on a struggling banking sector, Ian Tyler, Tesco Personal Finance's treasurer, said that introducing Basel II capital adequacy rules at the bank had been "a traumatic event".
Interbank lending suffers as $700 billion rescue vehicle breaks down
Pressure on the interbank lending markets intensified today, after Congress rejected the US government’s bailout plan.
Month of bailouts continues with Dexia rescue
European bank Dexia, listed on the French and Belgium stock exchanges, on Tuesday received a €6.4 billion capital injection in exchange for shares from the governments of Belgium, France and Luxembourg as well as private investors.
Bradford & Bingley nationalised
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No more investment banks, says SEC
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EDF Trading to acquire Eagle Energy from Lehman Brothers
London-based EDF Trading has agreed to purchase Eagle Energy Partners, a Houston-based energy marketing and services company acquired by Lehman Brothers in May 2007.
ALM Europe: "Fear and laziness" caused crisis
Banks are making their situations worse by refusing to do the due diligence required to lend in the interbank market, Dutch central banker Maarten Gelderman told the Risk ALM Europe conference in London today.
Nationalisation remedy prescribed for B&B and Fortis
After another dramatic September weekend, British lender Bradford & Bingley (B&B) became the second UK bank this year to be nationalised, while pan-European financial services group Fortis received a massive capital injection from the governments of…
Citigroup to acquire Wachovia
Citigroup announced today it would buy the banking operations of Charlotte, North Carolina-based bank Wachovia for approximately $2.16 billion in stock.
Failure of $700bn bailout sparks equity slump
US equity markets have experienced their biggest one-day drop in history following the failure of the US Congress to pass legislation that would have empowered the Treasury department to buy up to $700 billion in mortgages and other assets from…
CDS spreads push out as bailout drags on
The cost of protection on some of the world’s largest dealers surged on Friday as uncertainty grew over the US government’s $700 billion plan to purchase devalued assets from financial institutions.