Insurance
What to look for in Tarp II
Tim Geithner, the US Secretary of the Treasury, has delayed unveiling the plans for the next steps in administration's financial bailout programme until Tuesday. Here is a summary of the new steps that could be announced tomorrow.
FDIC may run US bad bank
The Federal Deposit Insurance Corporation (FDIC), a key American regulator, could manage a bad bank that the Obama administration is likely to soon set up, say reports.
BoA rescued as Congress grants $350bn for Tarp
Washington has granted Bank of America, the United States's third-largest lender, up to $138 billion in federal aid on signs that a batch of assets taken onto the lender's balance sheet following its buyout of failed investment bank Merrill Lynch could…
Indian governor on reducing global imbalances
If easy, quick and unconditional international liquidity was provided during a crisis, then emerging economies may not need to insure themselves by foreign reserves accumulation, said Duvvuri Subbarao, the governor of the Reserve Bank of India.
Islamic finance and insurance tie-up
The International Association of Insurance Supervisors (IAIS) and the Islamic Financial Services Board (IFSB) signed a working agreement aiming at establishing a sound regulatory and supervisory framework for the Islamic insurance industry.
FDIC surveys bank overdraft programmes
The Federal Deposit Insurance Corporation (FDIC) has gathered data on the types, characteristics, and use of overdraft programmes operated by the1,171 banks supervised by the deposit insurance regulator.
Washington restructures loan to save battered AIG
The Treasury is to take a $40 billion stake in American International Group (AIG), once the biggest insurance company in the world, as part of a restructuring of the firm's $122.8 billion Federal Reserve loan.
US offers $250bn in capital, markets shrug
Washington's unveiling of a $250 billion plan to recapitalise its banking sector did little to soothe equity-market sentiment on Tuesday, with gains at the opening bell proving short-lived.
Wells Fargo bids for Wachovia
Wells Fargo, a US bank, looks set to snag Wachovia from Citigroup, the world's biggest lender, after offering $15.1 billion for the troubled bank. The move could see the Federal Deposit Insurance Corporation (FDIC), which manages the US's deposit…
Call for mutual model to protect UK deposits
Senior City of London figures have called for the UK to set up a deposit protection scheme run by the banks, independently of any financial regulator.
FDIC pushes for more deposit insurance
The Federal Deposit Insurance Corporation (FDIC), which manages the US's deposit insurance fund, has added its support to calls for Congress to raise the guarantee on deposits.
Citigroup rescues teetering Wachovia
US regulators managed to avert another bank failure on Monday, persuading Citigroup, the world's biggest bank, to rescue Wachovia, another large US lender, which looked likely to collapse in the coming days.
Washington Mutual bust, bought by JP Morgan
US regulators on Thursday night presided over the biggest bank failure in the country's history, closing Washington Mutual, which was then sold to JPMorgan Chase.
FDIC's Bair: foreclosures impact whole economy
Minimising foreclosures is important to the broader effort to stabilise global financial markets and the US economy, said Sheila Bair, the chairman of the Federal Deposit Insurance Corporation (FDIC).
Goldmans, MS abandon model, seek Fed shelter
And then there were none. Goldman Sachs and Morgan Stanley, the last of the big five Wall Street investment banks, have abandoned their business model to secure greater Fed protection and soothe negative market sentiment.
Norges's Gjedrem: rethink deposit guarantee
Reducing commercial bank deposit guarantees per customer would bring the Norwegian system more into line with guarantee schemes in other countries, said Svein Gjedrem, the governor of the Norges Bank.
Rate rise next move: Fed
The next change to the federal funds rate is likely to be an increase, the latest Federal Open Market Committee minutes show.
Singapore's Heng: people must plan ahead
Singapore's maturing population needs good retirement planning services to remain financially independent, said Heng Swee Keat, the managing director of the Monetary Authority of Singapore.
US regulators issue guidance on Basel II
The four US regulators responsible for the Basel II framework have published final guidelines on how banks adopting the advanced approaches can best carry out the supervisory review process.
FDIC seizes Californian bank
The Federal Deposit Insurance Corporation (FDIC), a US regulator, has taken control of IndyMac, a California-based lender with total assets of $32 billion.
US lists advanced Basel II qualification rules
The four US regulatory agencies responsible for Basel II have detailed how firms may qualify to use the advanced approaches of the framework.
US regulator approves Basel II for smaller banks
The Federal Deposit Insurance Corporation (FDIC), one of the US's regulatory agencies, on Wednesday approved a version of the Basel II framework designed for the country's smaller banks.
Swiss Re's Raaflaub to head new regulator
Patrick Raaflaub, the head of group capital management at Swiss Re, a reinsurance company, will direct Switzerland's new super regulator the Financial Market Supervisory Authority (FINMA).
FDIC's Bair calls for mortgage transparency
Sheila Bair, the chairman of the Federal Deposit Insurance Corporation, the body responsible for deposit insurance in the US, has called for a return to common sense and back-to-basics lending standards.