ireland.com (Free subscription) | 03/11/2009
Royal Bank of Scotland (RBS) Group will sell its insurance division and bank branches after negotiations with the European Commission and the UK Treasury, pushing it further into government hands.
Andy Peacock (Free subscription) | 02/11/2009
Three new high Street banking chains are to be created by the government by 2015 as part of a major overhaul. They will be setup by breaking up Royal Bank of Scotland, Lloyds and Northern Rock, the banks it partially or wholly controls after bail-outs. Ministers and the European Competition Commissioner are in talks over reducing the scale of state –supported...
ireland.com (Free subscription) | 03/11/2009
Shares in the State's banks fell on the Iseq this morning amid ongoing uncertainty over their ability to raise capital.
The Business Insider (Free subscription) | 02/11/2009
Banks face big losses from the still ailing economy,the Federal Reserve's top banking regulator said today. While the bankying system is more stable than a year ago, the commercial and residential loans continue to produces losses at record rates. Here's the full speech. Jon D. Greenlee, Associate Director, Division of Banking Supervision and Regulation Residential...
CNNMoney.com (Free subscription) | 02/11/2009
Some large regional and community banks that have built up unusually high concentrations in commercial real estate loans will be "particularly affected" by conditions in those markets, said Jon Greenlee, associate director of the Fed's Division of Banking Supervision and Regulation.
Business Wire (Free subscription) | 2 hours ago
NEW YORK--(BUSINESS WIRE)--Barclays Capital, the investment banking division of Barclays Bank PLC and publisher of leading fixed income benchmarks, today announced the launch of a new family of benchmark bond indices that use gross domestic product (GDP) to weight country blocs within an index. This new benchmark family continues to expand the number of alternative weight bond...
Hullabaloo (Free subscription) | 07/11/2009
Another Iceberg by digby Gosh, I hate to sound like a gloomy gus all day, but I keep reading about this and yet it seems as though it's inevitable: Banks are in for another ugly year in 2010. But this time the problem will be the big batch of deteriorating commercial real estate loans on their books. That’s because the big banks were operating with the same loose standards—and...
Blog on the Run: Reloaded (Free subscription) | 17 hours ago
John Reed, the guy who led the merger that created zombie bank Citigroup, now says he’s sorry he did that. He also says he was wrong to support the repeal of Glass-Stegall. Well, duh; any number of people, myself included, could have told him that at the time, if he’d been willing to listen. But he [...]
CJR Daily (Free subscription) | 07/11/2009
Bloomberg finds a contrite banker, John Reed the former CEO of Citigroup who merged it with Sandy Weill's Travelers in the late 1990s to create a financial supermarket, one that a decade later would have the distinction of being a third-owned by Uncle Sam. Reed calls for the reinstatement of the Glass-Steagall division of banking and trading. — Couldn't...
Mike Hudack (Free subscription) | yesterday
“Lawmakers were wrong to repeal the Depression-era Glass- Steagall Act in 1999, Reed said. At the time, he supported overturn of the law, which required the separation of institutions that engaged in traditional customer banking services from those involved in capital markets. “We learn from our mistakes,” said Reed, who wrote an Oct. 21 letter to the editor of the New York...
The Sideshow (Free subscription) | 07/11/2009
I see via Atrios that John Reed, who was one of the people responsible for the creation of Citigroup, regrets the repeal of Glass-Steagal, which he helped make happen. " Lawmakers were wrong to repeal the Depression-era Glass- Steagall Act in 1999, Reed said. At the time, he supported overturn of the law, which required the separation of institutions that engaged in traditional customer banking...
The Business Insider (Free subscription) | 06/11/2009
... doesn’t spread and sink the whole vessel. So generally speaking you’d have consumer banking separate from trading bonds and equity." Reed also apologized for essentially helping repeal the Glass-Steagall Act: “We learn from our mistakes,” said Reed, who wrote an Oct. 21 letter to the editor of the New York Times endorsing a division of banking activities....
The Observer (Free subscription) | 04/11/2009
Platform's decision came after a Financial Services Authority paper proposed banning self-cert home loans Controversial self-certification mortgages – dubbed "liar loans" – will effectively become extinct this week after the sector's last remaining significant player today said it was withdrawing from the market. The announcement from Platform, a division of the ...
Calculated Risk (Free subscription) | 02/11/2009
Testimony of Jon D. Greenlee, Associate Director, Division of Banking Supervision and Regulation on Residential and commercial real estate [T]he condition of the banking system is far from robust. Two years into a substantial economic downturn, loan quality is poor across many asset classes and, as noted earlier, continues to deteriorate as weakness in housing markets affects the...
Providence Journal (Free subscription) | 02/11/2009
... includes the U.S. Customs and Border Protection, the Federal Bureau of Prisons, the Massachusetts Division of Banks and the U.S. Department of Housing and Urban Development. This is the second government career fair held at Bryant this year and the first drew more than 630 job seekers.
