Tag:
National City
Latest Headlines
Latest Headlines
Treasury program shrouded in secrecy
We noted a while back that the Treasury Department faced a daunting task in choosing which securities to buy as part of the TARP. We suggested it would need lots of help. We can say the same for the on-going program to invest in banks directly. But while the Treasury signs up companies to help it
How can banks best use TARP funds?
As the funds flow from the TARP to banks, people are heatedly debating how the funds should be used. The White House, of course, has already suggested that banks ought to use the funds to make loans. The Treasury Department has voiced similar sentiments, though it also blessed PNC's decision t
Second TARP tranche: unintended consequences?
The government is encouraging all banks that receive TARP funds to use the money and not just sit on it. Which is reasonable enough. But the deal for National City by PNC, which was made possible by the $7.7 billion PNC will receive from the TARP, has some misgivings. It seems like more banks will
Are we in for a spate of regional bank deals?
It seems like we've been predicting for a while now that more regional banks will be forced to merge. The real catalyst may be the availability of TARP funds. PNC's deal for National City--there had been talks going on even before the TARP was announced--was really made possible by federal funds.
Will Barclays make a move for a U.S. firm?
That Barclays will buy a big U.S. bank is one of those standing rumors. They never seem to come true, but no one is quite willing to discount the idea altogether. As the credit crisis unfolded, many thought it might come to the table to rescue some banks. Bob Diamond, the bank's president, tells t
Regional banks sharing the misery
Most of the recent headlines have focused on the global banks--the likes of Bear Stearns and Lehman Brothers. But regional and near-regional banks are suffering as well. The mortgage situations at these banks are not healing themselves and the rumor-mill is active. Wachovia, of course, has been a
Are there more secret agreements with feds out there?
National City has confirmed that it has entered into two agreements with federal regulators that deal with capital, risk and other issues, reports the AP . The Wall Street Journal reported something like this was in the works, but it turns out that the deals had been in place since April 29
ALSO NOTED: Citi analyst lowers estimates on banks again; BCE stock drops amid deal worries; and much more...
Company News: > BCE stock drops amid deal worries. Article > Thomson-Reuters cuts jobs. Article > American Capital Strategies invests in commercial lender. Article > Citi analyst lowers estimates on banks again. Article > Citi analyst upgrades National City
Bank merger deals not likely
At a time when banks need huge capital injections, there's always a renewed focus on costs and efficiencies. You might have thought that such an environment would be ideal for some strategic mergers, but the numbers just don't seem to be working, reports TheDeal.com . A strategic merger is a h
ALSO NOTED: Merrill to return to profitability soon?; Rising level 3 assets to explode at top banks?; and much more...
Company News:
> Goldman Sachs underwriting for RBS. Article
> National City to raise $7 billion. Article
> Union calls for Citi break up. Article
> J.C. Flowers drops Provident bid. Article
> Analysts bearish on MF Global. Article
> Jefferie
