News Tuesday, Citigroup (C) said that as part of its problem assets to the U.S. government rescue plan (TARP) under the assistance of the loan funds to support part of the project, the second quarter of 6 billion U.S. dollars approved a new loan scheme. The company said it has approved the use of TARP funds total loans of 50.8 billion U.S. dollars.
Since October last year, Citigroup has received 45 billion U.S. dollars of assistance to TARP funds, part of which has recently been converted into government-held stake of 34%. The company said that the loans have been approved, there are 15.1 billion U.S. dollars (nearly one-third) have been put into use.
Citigroup second quarter of the approval of two up to 6 billion U.S. dollars worth of new loan scheme. According to these two programs, the company will provide up to 4 billion U.S. dollars worth of municipal credit and mortgage loans to provide another 2 billion U.S. dollars of loans. Citigroup said the second quarter to the United States issued a new consumer loans reached 56.2 billion U.S. dollars, in the first quarter increased by 22%.
Aug. 12, 2009
Citigroup to sell its 795 million U.S. dollars in Japan sector
News July 30, according to media reports, Citigroup Inc. agreed Thursday to ¥ 75,600,000,000 (approximately 795 million U.S. dollars) the price of its sale of the Japanese asset management sector to Japan's fifth-largest bank Sumitomo Trust & Banking Co. Currently, Citigroup is selling its assets to repay the loan assistance from the U.S. federal government.
Sumitomo Trust & Banking Co said in a statement today, which will be in October, Citigroup's acquisition of Nikko Asset Management Co 64% stake. Citigroup said the deal based on prices, Nikko Asset Management Co., Ltd. The total value of approximately ¥ 120,000,000,000 (about 1.259 billion U.S. dollars).
Jul. 30, 2009
Sumitomo Trust & Banking Co said in a statement today, which will be in October, Citigroup's acquisition of Nikko Asset Management Co 64% stake. Citigroup said the deal based on prices, Nikko Asset Management Co., Ltd. The total value of approximately ¥ 120,000,000,000 (about 1.259 billion U.S. dollars).
Jul. 30, 2009
U.S. credit crisis spread to Europe
The United States has caused a loss of billions of dollars in the banking industry's credit card crisis is across the Atlantic to Europe, the United Kingdom and other parts of Europe, lending institutions are being ushered in a wave of growing consumer default climax. International Monetary Fund (IMF) estimates that total U.S. consumer debt 1914 billion U.S. dollars, about 14% will become bad debts. IMF expects Europe 2467 billion U.S. dollars in consumer debt, there will be 7% could not be recovered, most of which will take place in the UK - the European country with the largest credit card consumers.
British National Debtline said that in May this year, for loans, credit cards and mortgage loans in arrears consumers worried about the liabilities of the United Kingdom to call the 41,000 calls in May 2008 than the 20,000 doubled. It added that now the number of calls did not show signs of reduction. In the United States, the unemployment rate rising rapidly and the Great Depression (Great Depression) has been the most serious economic recession has hurt consumers borrowing too much, in these few months of credit card default rates have been climbing.
Citi group, Bank of America, JP Morgan Chase, Wells Fargo and other banks and card issuers such as American Express credit card portfolio has suffered losses of billions of dollars. They warned that a loss may be expanded in future.
In recent months the U.S. card loss rate has exceeded the unemployment rate, this most unusual phenomenon makes it more difficult for card issuers to predict the future situation of the loss.
Jul. 27, 2009
British National Debtline said that in May this year, for loans, credit cards and mortgage loans in arrears consumers worried about the liabilities of the United Kingdom to call the 41,000 calls in May 2008 than the 20,000 doubled. It added that now the number of calls did not show signs of reduction. In the United States, the unemployment rate rising rapidly and the Great Depression (Great Depression) has been the most serious economic recession has hurt consumers borrowing too much, in these few months of credit card default rates have been climbing.
Citi group, Bank of America, JP Morgan Chase, Wells Fargo and other banks and card issuers such as American Express credit card portfolio has suffered losses of billions of dollars. They warned that a loss may be expanded in future.
In recent months the U.S. card loss rate has exceeded the unemployment rate, this most unusual phenomenon makes it more difficult for card issuers to predict the future situation of the loss.
Jul. 27, 2009
Bernanke said there are about 25 financial companies will be subject to additional regulatory
News July 25, Federal Reserve Chairman Ben S. Bernanke said Friday that about 25 financial companies may be regarded as "too large to fail" companies. Obama put forward by the Government in accordance with the regulatory scheme, these companies will be subject to additional regulation.
Bernanke today in the House of Representatives under the Financial Services Committee held hearings to testify, he replied, California Republican Congressman John Campbell's question, said that 25 is only a "very rough estimate," "In fact all major financial companies "have been at the Fed's" umbrella "under supervision. Bernanke did not specify which companies 25.
Bernanke also said that the Federal Reserve emergency loan scheme is the scale of decline, such as for commodity paper market and the emergency loan program for American International Group (AIG) and other support schemes. He pointed out that: "As you know, we are gradually reducing the current 13-scale emergency loan program, I think the scale of these projects will not reach the previous peak, nor do we believe that there may be what kind of situation."
Jul. 25, 2009
Bernanke today in the House of Representatives under the Financial Services Committee held hearings to testify, he replied, California Republican Congressman John Campbell's question, said that 25 is only a "very rough estimate," "In fact all major financial companies "have been at the Fed's" umbrella "under supervision. Bernanke did not specify which companies 25.
Bernanke also said that the Federal Reserve emergency loan scheme is the scale of decline, such as for commodity paper market and the emergency loan program for American International Group (AIG) and other support schemes. He pointed out that: "As you know, we are gradually reducing the current 13-scale emergency loan program, I think the scale of these projects will not reach the previous peak, nor do we believe that there may be what kind of situation."
Jul. 25, 2009
Barclays Plc transactions from the sale of BGI was 8.8 billion U.S. dollars in revenue
News June 12, the British Barclays Plc said in a statement Friday, the bank will sell its BlackRock Inc to the Barclays Global Investors (referred to as "BGI") sector of the transactions was 8.8 billion U.S. dollars in net income.
Barclays Plc said in a statement that the sale of BGI's trading sector will be the bank's core tier one capital ratio from As of December 31, 2008 of 6.5 percent so far raised 150 basis points to 8%.
Barclays Plc President Robert Diamond in an interview today, said: "Let us deal more comfortable feel. We are in an opportunity rich environment, it has a higher rate of capital is a good thing. We have in no hurry to do anything. "
Jun. 12, 2009
Barclays Plc said in a statement that the sale of BGI's trading sector will be the bank's core tier one capital ratio from As of December 31, 2008 of 6.5 percent so far raised 150 basis points to 8%.
Barclays Plc President Robert Diamond in an interview today, said: "Let us deal more comfortable feel. We are in an opportunity rich environment, it has a higher rate of capital is a good thing. We have in no hurry to do anything. "
Jun. 12, 2009
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