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
JP Morgan Chase will receive proceeds of 29 billion U.S. dollars in particular
May 26 news, regulatory documents show that through the use of accounting standards will be acquired by Washington Mutual Inc.'s Bad debts to income, JP Morgan Chase will harvest 29 billion U.S. dollars of windfall.
JP Morgan Chase in September last year to 1.9 billion U.S. dollars acquisition of Washington Mutual Bank, based on the acquisition accounting method, in accordance with the fair value recorded 118.2 billion U.S. dollars, therefore impairment of assets by 25%. However, with the borrower to begin repayment, the loan is expected to generate cash flow after loan impairment charges and the value of differences in accounting can be charged to the income, JP Morgan Chase may have access to 29.1 billion U.S. dollars of pre-tax earnings.
Regulatory documents also show that Wells Fargo Bank, Bank of America and PNC Financial Services Group Inc. Will be the same as taking over Wachovia Wachovia Corp., Countrywide Financial Corp. And National City Corp. And benefit from a similar accounting arrangements will bring a total of 56 billion U.S. dollars of the proceeds.
Faced with the high 25 points in the United States the unemployment rate and rising housing foreclosure rates, banks will be designed to use a standardized accounting provisions of the loan account. Tax consulting firm, president of Robert Willens LLC, the former Lehman Brothers executives, said Robert Willens, through the application of the accounting provisions, the banks will offer mortgages and commercial loans, "the wreckage of" benefit.
May. 26, 2009
JP Morgan Chase in September last year to 1.9 billion U.S. dollars acquisition of Washington Mutual Bank, based on the acquisition accounting method, in accordance with the fair value recorded 118.2 billion U.S. dollars, therefore impairment of assets by 25%. However, with the borrower to begin repayment, the loan is expected to generate cash flow after loan impairment charges and the value of differences in accounting can be charged to the income, JP Morgan Chase may have access to 29.1 billion U.S. dollars of pre-tax earnings.
Regulatory documents also show that Wells Fargo Bank, Bank of America and PNC Financial Services Group Inc. Will be the same as taking over Wachovia Wachovia Corp., Countrywide Financial Corp. And National City Corp. And benefit from a similar accounting arrangements will bring a total of 56 billion U.S. dollars of the proceeds.
Faced with the high 25 points in the United States the unemployment rate and rising housing foreclosure rates, banks will be designed to use a standardized accounting provisions of the loan account. Tax consulting firm, president of Robert Willens LLC, the former Lehman Brothers executives, said Robert Willens, through the application of the accounting provisions, the banks will offer mortgages and commercial loans, "the wreckage of" benefit.
May. 26, 2009
Royal Bank of Scotland to the £ 5,000,000 paid executives bonuses
News May 25, according to media reports, the Royal Bank of Scotland recently issued to the four executives close to five million pounds worth of stock bonuses, it is likely to incite the public's acceptance of aid banks pay excessive criticism of the new round.
In accordance with the bonus plan, Royal Bank of Scotland Americas Ellen Alemany operations will be nearly 600 million shares of the bank stocks, based on the closing price last Friday, the stock value of approximately 2.4 million pounds. The other three executives, including head of corporate banking Alan Dickinson, and Chris Sullivan as well as the chief administrative officer Ron Teerlink.
Vice-Chairman of the British Liberal Democrats Vince Cable said the Royal Bank of Scotland is a bonus behavior "completely unjustified, it is absolutely unacceptable."
Earlier this year, Royal Bank of Scotland a few weeks after receiving government assistance, announced plans to staff of nearly one billion pounds prize money, which triggered a political storm. Royal Bank of Scotland in 2008 a loss of as much as 28 billion pounds, are being forced to accept government aid. At present, the British Government to hold the bank more than 70% of the shares.
May. 25, 2009
In accordance with the bonus plan, Royal Bank of Scotland Americas Ellen Alemany operations will be nearly 600 million shares of the bank stocks, based on the closing price last Friday, the stock value of approximately 2.4 million pounds. The other three executives, including head of corporate banking Alan Dickinson, and Chris Sullivan as well as the chief administrative officer Ron Teerlink.
Vice-Chairman of the British Liberal Democrats Vince Cable said the Royal Bank of Scotland is a bonus behavior "completely unjustified, it is absolutely unacceptable."
Earlier this year, Royal Bank of Scotland a few weeks after receiving government assistance, announced plans to staff of nearly one billion pounds prize money, which triggered a political storm. Royal Bank of Scotland in 2008 a loss of as much as 28 billion pounds, are being forced to accept government aid. At present, the British Government to hold the bank more than 70% of the shares.
May. 25, 2009
American Express will be 4,000 job cuts
U.S. credit card giant American Express on the 18th the company announced that 4000 will be further reductions in jobs, accounting for the total number of its global workforce by 6%.
American Express said he hopes the layoffs in 2009 and then save the remainder of the time cost of 800 million U.S. dollars. In October last year, American Express had announced layoffs of 7,000 people in 2009 with a view to saving the cost of 1.8 billion U.S. dollars.
American Express also said that the layoffs will enable the companies included in the second quarter of this year, from 180,000,000 to 250,000,000 U.S. dollars of restructuring costs. In addition to layoffs, the company also plans to reduce investment spending and travel and other operating costs.
American Express Chairman and CEO of Solutia, said Kenneth Tse, although in some areas of the credit card industry has suffered serious losses remain profitable, but the future Yuntong cautious economic outlook, it was decided to implement further restructuring to reduce operating costs.
May. 24, 2009
American Express said he hopes the layoffs in 2009 and then save the remainder of the time cost of 800 million U.S. dollars. In October last year, American Express had announced layoffs of 7,000 people in 2009 with a view to saving the cost of 1.8 billion U.S. dollars.
American Express also said that the layoffs will enable the companies included in the second quarter of this year, from 180,000,000 to 250,000,000 U.S. dollars of restructuring costs. In addition to layoffs, the company also plans to reduce investment spending and travel and other operating costs.
American Express Chairman and CEO of Solutia, said Kenneth Tse, although in some areas of the credit card industry has suffered serious losses remain profitable, but the future Yuntong cautious economic outlook, it was decided to implement further restructuring to reduce operating costs.
May. 24, 2009
Obama signed the credit card reform bill
Washington, May 22 news, Obama 22, President of the United States Congress after the signing of the credit card reform bill passed. The bill seeks to prohibit all kinds of hidden fees provisions to protect consumer interests.
Obama held the same day at the White House signing ceremony, said that many credit card customers into the debt trap because of the economic downturn led to financial distress of their families, but the greedy credit card companies make their business practices from the efforts of the debt has become more difficult. He warned that the credit card industry should be held accountable for their actions, but also made it clear that he did not support those who do not live within our means, reckless consumers.
The bill prohibits credit card companies to raise interest rates credit card debts, unless the borrower defaults is more than 60 days. If the cardholder in the following six months of the repayment on time, and that interest rates credit card companies must be restored to their original levels. Bill also prohibits credit card companies to consumers by phone to receive repayment repayments additional cost.
The bill requires that credit card companies to the applicant under 21 years of age when credit card payment, must be the applicant himself has the ability to repay or the parents are prepared to offer proof of their repayment; and requested the credit card companies issuing credit cards to new promotional interest rate must be maintained for 6 months may not improve.
Although the U.S. banking industry opposed the bill, that it the situation in the economic downturn may further inhibit the flow of credit, but it was earlier in the week Congress passed smoothly. According to data from the White House, nearly 80% of Americans are credit card holders.
May. 22, 2009
Obama held the same day at the White House signing ceremony, said that many credit card customers into the debt trap because of the economic downturn led to financial distress of their families, but the greedy credit card companies make their business practices from the efforts of the debt has become more difficult. He warned that the credit card industry should be held accountable for their actions, but also made it clear that he did not support those who do not live within our means, reckless consumers.
The bill prohibits credit card companies to raise interest rates credit card debts, unless the borrower defaults is more than 60 days. If the cardholder in the following six months of the repayment on time, and that interest rates credit card companies must be restored to their original levels. Bill also prohibits credit card companies to consumers by phone to receive repayment repayments additional cost.
The bill requires that credit card companies to the applicant under 21 years of age when credit card payment, must be the applicant himself has the ability to repay or the parents are prepared to offer proof of their repayment; and requested the credit card companies issuing credit cards to new promotional interest rate must be maintained for 6 months may not improve.
Although the U.S. banking industry opposed the bill, that it the situation in the economic downturn may further inhibit the flow of credit, but it was earlier in the week Congress passed smoothly. According to data from the White House, nearly 80% of Americans are credit card holders.
May. 22, 2009
The largest bank failure in Florida
May 22 message, it is reported that the U.S. Federal Deposit Insurance Corporation (FDIC) said in a statement late Thursday, the biggest bank in Florida, BankUnited Financial Corp. Federal regulators have been under the supervision of the closure of the sale of its assets to the private equity investment group. This is the United States this year, the largest case of bank failures.
FDIC said in a statement, including WL Ross & Co. And The Carlyle Group private equity groups, including the acquisition of BankUnited is the "lowest cost" solution. Close BankUnited will spend 4.9 billion U.S. dollars about FDIC insurance fund to take over the banks so far this year will cost a total of more than 10 billion U.S. dollars.
FDIC said, BankUnited Friday will be under the management of the new owners to resume business, has served as North Fork Bancorp Bank CEO of John Kanas will become the new head of the bank.
May. 22, 2009
FDIC said in a statement, including WL Ross & Co. And The Carlyle Group private equity groups, including the acquisition of BankUnited is the "lowest cost" solution. Close BankUnited will spend 4.9 billion U.S. dollars about FDIC insurance fund to take over the banks so far this year will cost a total of more than 10 billion U.S. dollars.
FDIC said, BankUnited Friday will be under the management of the new owners to resume business, has served as North Fork Bancorp Bank CEO of John Kanas will become the new head of the bank.
May. 22, 2009
Federal Reserve Bank announced the results of stress tests
May 8 news, the Federal Reserve announced today for the 19 largest U.S. banks, "stress tests" of the final results, 10 to determine which banks need to raise as much as 74.6 billion U.S. dollars the total amount of funds.
"Pressure test" results show, Bank of America Corp was convicted of the need to raise 33.9 billion U.S. dollars of funds, Wells Fargo & Co need to fund-raising 13.7 billion U.S. dollars, Citigroup needs of 5.5 billion U.S. dollars, Morgan Stanley needs 18 billion dollars. Prior to that, Citigroup has announced a plan to be adopted the Government's preference shares will be converted into ordinary shares of the ways to improve its ratio of tangible common stock.
Major local banks, Fifth Third Bancorp needs of 1.1 billion U.S. dollars to raise funds, KeyCorp needs of 1.8 billion U.S. dollars of financing, PNC Financial Services Group needs 600 million U.S. dollars, Regions Financial Corp needs of 2.5 billion U.S. dollars, SunTrust Banks Inc needs of 2.2 billion U.S. dollars . In addition, GMAC LLC also need funds to raise 11.5 billion U.S. dollars.
The test results indicate that, Goldman Sachs Group, JP Morgan Chase, Bank of New York Mellon Corp, MetLife Inc, American Express, State Street Corp, BB & T Corp, US Bancorp and Capital One Financial Corp was convicted do not need to raise more funds.
May. 8, 2009
"Pressure test" results show, Bank of America Corp was convicted of the need to raise 33.9 billion U.S. dollars of funds, Wells Fargo & Co need to fund-raising 13.7 billion U.S. dollars, Citigroup needs of 5.5 billion U.S. dollars, Morgan Stanley needs 18 billion dollars. Prior to that, Citigroup has announced a plan to be adopted the Government's preference shares will be converted into ordinary shares of the ways to improve its ratio of tangible common stock.
Major local banks, Fifth Third Bancorp needs of 1.1 billion U.S. dollars to raise funds, KeyCorp needs of 1.8 billion U.S. dollars of financing, PNC Financial Services Group needs 600 million U.S. dollars, Regions Financial Corp needs of 2.5 billion U.S. dollars, SunTrust Banks Inc needs of 2.2 billion U.S. dollars . In addition, GMAC LLC also need funds to raise 11.5 billion U.S. dollars.
The test results indicate that, Goldman Sachs Group, JP Morgan Chase, Bank of New York Mellon Corp, MetLife Inc, American Express, State Street Corp, BB & T Corp, US Bancorp and Capital One Financial Corp was convicted do not need to raise more funds.
May. 8, 2009
Buffett: Wells Fargo Bank in an excellent location
Buffett EST on May 2 that out of Wells Fargo Bank is in an excellent location of the financial crisis.
Buffett said that the Wells Fargo strong, which will help the No. 4 U.S. major banks to attract customers and deposits, Wells Fargo shares on 5 March fell to 7.8 U.S. dollars, Buffett is on the increase in the price holders of Wells Fargo stock. Buffett to shareholders, said: "If the situation allows, I will buy Bank of the United States of America and Wells Fargo all the shares", the problem is that case, Berkshire will become a bank holding company. At present, holders of Berkshire has a large number of shares of the two banks.
According to the annual reports of Berkshire Hathaway - Hathaway more than 300 million shares held by Wells Fargo shares, worth 8.97 billion U.S. dollars, Wells Fargo is Berkshire - Hathaway holding company's second-largest number, after Coca-Cola.
Buffett said that companies like Chrysler, the United States of America and Wells Fargo bank profits high and strong profitability.
May. 2, 2009 Sina Finance
Buffett said that the Wells Fargo strong, which will help the No. 4 U.S. major banks to attract customers and deposits, Wells Fargo shares on 5 March fell to 7.8 U.S. dollars, Buffett is on the increase in the price holders of Wells Fargo stock. Buffett to shareholders, said: "If the situation allows, I will buy Bank of the United States of America and Wells Fargo all the shares", the problem is that case, Berkshire will become a bank holding company. At present, holders of Berkshire has a large number of shares of the two banks.
According to the annual reports of Berkshire Hathaway - Hathaway more than 300 million shares held by Wells Fargo shares, worth 8.97 billion U.S. dollars, Wells Fargo is Berkshire - Hathaway holding company's second-largest number, after Coca-Cola.
Buffett said that companies like Chrysler, the United States of America and Wells Fargo bank profits high and strong profitability.
May. 2, 2009 Sina Finance
Wells Fargo Bank first quarter net profit increased 53%
Wells Fargo Bank announced its first quarter report. The report showed that the market value of the United States the second largest bank in the first quarter of 2009 rose year-on-year net profit by 53%, reaching 3.05 billion U.S. dollars.
The bank profits come mainly from refinancing proceeds of growth and acquisition transactions. Report showed that the first quarter the bank has provided more than 1000 billion dollars in mortgage loans, the revenue from these loans increased by almost double to 21 billion U.S. dollars, not only to help the bank overcome the outstanding loans from the 33 the cost of 100 million U.S. dollars, but also boost the performance of the line.
In addition, the line on December 31 last year to acquire Wachovia transaction also rose in support of its performance. The bank also is expected to bring about mergers and acquisitions of five billion U.S. dollars of annual cost savings from the effect of the second quarter reflected.
Apr. 22, 2009
The bank profits come mainly from refinancing proceeds of growth and acquisition transactions. Report showed that the first quarter the bank has provided more than 1000 billion dollars in mortgage loans, the revenue from these loans increased by almost double to 21 billion U.S. dollars, not only to help the bank overcome the outstanding loans from the 33 the cost of 100 million U.S. dollars, but also boost the performance of the line.
In addition, the line on December 31 last year to acquire Wachovia transaction also rose in support of its performance. The bank also is expected to bring about mergers and acquisitions of five billion U.S. dollars of annual cost savings from the effect of the second quarter reflected.
Apr. 22, 2009
Citigroup first-quarter net profit of 1.6 billion U.S. dollars better than expected
News April 17, Citigroup announced today first quarter results, the report shows, benefit from trading profits and accounting standards, Citigroup first-quarter profit to put an end to the previous quarter loss of five trends.
In this quarter, Citigroup's net profit of 1.6 billion U.S. dollars, this performance better than last year same period net loss of 5.11 billion U.S. dollars; Citigroup first-quarter loss of 18 cents per share, mainly due to payment of a related preferred stock dividend costs, but still better than last year during the same period a loss of 34 cents per share.
Apr. 17, 2009
In this quarter, Citigroup's net profit of 1.6 billion U.S. dollars, this performance better than last year same period net loss of 5.11 billion U.S. dollars; Citigroup first-quarter loss of 18 cents per share, mainly due to payment of a related preferred stock dividend costs, but still better than last year during the same period a loss of 34 cents per share.
Apr. 17, 2009
Six banks may be 10 billion U.S. dollars of subsidies
News April 16, the U.S. Treasury Department said today that if the United States to amend its six major banks in question and mortgages can help buyers avoid foreclosure housing, these banks will receive nearly 10 billion U.S. dollars a federal subsidy.
The principle of distribution according to the Ministry of Finance, Citigroup, JP Morgan Chase, Wells Fargo's mortgage sector will receive subsidies of more than two billion U.S. dollars.
The total amount of subsidies from the funds of 50 billion U.S. dollars designed to encourage mortgage lenders to relax the terms of a problem mortgage plan. Ministry of Finance said there will be more mortgage lenders are eligible for subsidies.
Sina Finance Apr. 16, 2009
The principle of distribution according to the Ministry of Finance, Citigroup, JP Morgan Chase, Wells Fargo's mortgage sector will receive subsidies of more than two billion U.S. dollars.
The total amount of subsidies from the funds of 50 billion U.S. dollars designed to encourage mortgage lenders to relax the terms of a problem mortgage plan. Ministry of Finance said there will be more mortgage lenders are eligible for subsidies.
Sina Finance Apr. 16, 2009
ICBC customer deposits more than 1.3 trillion U.S. dollars among the world's first
As of March 31, 2009, China Industrial and Commercial Bank of China(ICBC) has been the balance of the customer deposits more than 8.9 trillion yuan (more than 1.3 trillion U.S. dollars), representing the beginning of an increase of more than 9500 billion yuan, one goes beyond Europe and the United States and Japan, the banking industry has become a global customer The first commercial bank deposits. If the operator deposits into the financial, industrial and commercial bank deposits, compared with 9.7825 trillion yuan, or 1.44 trillion U.S. dollars, far more.
Europe and the United States and Japan in recent years, large-scale mergers between banks continue to expand with each other, which makes its assets and deposits increased rapidly. At present, the first U.S. banks JP Morgan Chase Bank, because the acquisition of the largest U.S. savings bank Washington Mutual bank deposits reached a record high of 1.0093 trillion U.S. dollars. Corresponding, within the Industrial and Commercial Bank of China is basically endogenous development. In this case the Industrial and Commercial Bank to become the world's largest commercial bank deposits more irksome. At the same time, the causes of the financial crisis, within the scope of the current global banks have started to re-examine the importance of deposit-taking business, and a traditional commercial banking business to return to the trend, the Industrial and Commercial Bank of China is bound to give rise to the performance of inside and outside, outside the industry extensive attention.
Analysts pointed out that the Industrial and Commercial Bank of China, represented by customer deposits of commercial banks in China's steady growth is rapid and healthy development of China's economic and social wealth of a true reflection of the continued accumulation. As compared to other macroeconomic indicators, the increase in customer deposits more direct reflection of the host country's economy, the financial state of development, a reflection of the host country residents and businesses with their wealth and income increase in cash flow. Industrial and Commercial Bank of China to come to the fore in many banks in customer deposits as the world's largest commercial banks, should be attributed to its strong customer base, channel convenience and outstanding reputation of the brand.
Has been owned Industrial and Commercial Bank of China Bank of China and the world's largest customer groups, ICBC is currently the number of corporate clients of 3.1 million individual customers reached 190 million, almost equivalent to the United Kingdom, Germany and France combined population of the three countries. Industrial and Commercial Bank of China outlets in various cities throughout China, for financial services is very convenient, being the deposit as "close to the bank," generally recognized as reputable, safe and reliable.
Source: www.sina.com Apr. 13, 2009
Europe and the United States and Japan in recent years, large-scale mergers between banks continue to expand with each other, which makes its assets and deposits increased rapidly. At present, the first U.S. banks JP Morgan Chase Bank, because the acquisition of the largest U.S. savings bank Washington Mutual bank deposits reached a record high of 1.0093 trillion U.S. dollars. Corresponding, within the Industrial and Commercial Bank of China is basically endogenous development. In this case the Industrial and Commercial Bank to become the world's largest commercial bank deposits more irksome. At the same time, the causes of the financial crisis, within the scope of the current global banks have started to re-examine the importance of deposit-taking business, and a traditional commercial banking business to return to the trend, the Industrial and Commercial Bank of China is bound to give rise to the performance of inside and outside, outside the industry extensive attention.
Analysts pointed out that the Industrial and Commercial Bank of China, represented by customer deposits of commercial banks in China's steady growth is rapid and healthy development of China's economic and social wealth of a true reflection of the continued accumulation. As compared to other macroeconomic indicators, the increase in customer deposits more direct reflection of the host country's economy, the financial state of development, a reflection of the host country residents and businesses with their wealth and income increase in cash flow. Industrial and Commercial Bank of China to come to the fore in many banks in customer deposits as the world's largest commercial banks, should be attributed to its strong customer base, channel convenience and outstanding reputation of the brand.
Has been owned Industrial and Commercial Bank of China Bank of China and the world's largest customer groups, ICBC is currently the number of corporate clients of 3.1 million individual customers reached 190 million, almost equivalent to the United Kingdom, Germany and France combined population of the three countries. Industrial and Commercial Bank of China outlets in various cities throughout China, for financial services is very convenient, being the deposit as "close to the bank," generally recognized as reputable, safe and reliable.
Source: www.sina.com Apr. 13, 2009
The relationship between the U.S. Government and the deterioration of the banking sector
April 11 hearing the news at present, Obama has been initially completed the Government of the banking sector stress testing. On the other hand, the United States government in the banking industry executives and non-performing assets to repay the loan on such issues as the sale of the practice, but showed an increasingly strong dissatisfaction.
The end of this week, five teams with the Council of Economic Advisers after the meeting, Obama said that the dawn of the U.S. economy has emerged. But at the same time, the financial services industry in the next step the issue of relief measures, the United States Government and the differences between the banking industry has become increasingly evident. Such differences have been manifested in various aspects.
First of all, the financial condition of many banks have already expressed willingness to repay government loans, but this will lead to high costs and also make them indecisive on this issue. As early as two weeks ago, JP Morgan Chase Bank CEO Jamie Dimon and other executives of two big banks, and Obama in the U.S. Treasury Secretary Timothy Geithner and the meeting referred to repay the loans. In addition, the majority of the banks are government loans that the U.S. government to repay the loan made by the issue of imposition of the restriction is unreasonable.
Secondly, Obama weak government hopes that the issue of disclosure of bank assets in the amount of detailed issues such as housing loans can be more rapid. However, because this deal will be a direct result of a profit report an increase in losses, most banks on this issue are very negative.
Finally, a number of banking executives are worried that the U.S. government will take the opportunity to stress tests to adjust their management. Before that, the U.S. government has been forced to this way of General Motors executives to step down.
On the other hand, the U.S. government has recognized the next few weeks for the banking industry and the importance of the relief plan. At present, the U.S. government has been in gestation for next steps. Obama said this week: "The United States government will take additional action." However, when the Government and the tension between the banking sector growing at the same time, the U.S. government can use the funds to rescue the market has continued to decline. According to the U.S. Treasury Department officials said the situation, the Government rescue package will make use of funds only the last remaining 134 billion U.S. dollars, but the next few weeks, both the banking industry, the automobile industry or the insurance industry, the Government may new applications for assistance. This gap between supply and demand continues to increase, but also government and enterprises will lead to further deterioration of relations.
Apr. 11, 2009
The end of this week, five teams with the Council of Economic Advisers after the meeting, Obama said that the dawn of the U.S. economy has emerged. But at the same time, the financial services industry in the next step the issue of relief measures, the United States Government and the differences between the banking industry has become increasingly evident. Such differences have been manifested in various aspects.
First of all, the financial condition of many banks have already expressed willingness to repay government loans, but this will lead to high costs and also make them indecisive on this issue. As early as two weeks ago, JP Morgan Chase Bank CEO Jamie Dimon and other executives of two big banks, and Obama in the U.S. Treasury Secretary Timothy Geithner and the meeting referred to repay the loans. In addition, the majority of the banks are government loans that the U.S. government to repay the loan made by the issue of imposition of the restriction is unreasonable.
Secondly, Obama weak government hopes that the issue of disclosure of bank assets in the amount of detailed issues such as housing loans can be more rapid. However, because this deal will be a direct result of a profit report an increase in losses, most banks on this issue are very negative.
Finally, a number of banking executives are worried that the U.S. government will take the opportunity to stress tests to adjust their management. Before that, the U.S. government has been forced to this way of General Motors executives to step down.
On the other hand, the U.S. government has recognized the next few weeks for the banking industry and the importance of the relief plan. At present, the U.S. government has been in gestation for next steps. Obama said this week: "The United States government will take additional action." However, when the Government and the tension between the banking sector growing at the same time, the U.S. government can use the funds to rescue the market has continued to decline. According to the U.S. Treasury Department officials said the situation, the Government rescue package will make use of funds only the last remaining 134 billion U.S. dollars, but the next few weeks, both the banking industry, the automobile industry or the insurance industry, the Government may new applications for assistance. This gap between supply and demand continues to increase, but also government and enterprises will lead to further deterioration of relations.
Apr. 11, 2009
Wells Fargo the first quarter of 3 billion U.S. dollars profit
April 10, Wells Fargo Bank, said profit in the first quarter up to three billion U.S. dollars, hitting a record high in the first quarter, easily exceeded analyst expectations, so that the bank reported fiscal quarter of the beginning of exciting.
Wells Fargo Bank, said net profit in the first quarter is expected to reach three billion U.S. dollars, hitting a record high in the first quarter and much better than the same quarter last year, two billion U.S. dollars, 55 cents earnings per share, but also easily exceed 23 per share analysts expected the United States at a surplus.
Pick-up due to housing loans, the interest rate has been reduced to an average of 5 percent below the previous quarter housing loans reached 100 billion U.S. dollars and is expected to remain strong this season, the nation's second-largest lender industry proud to write the first quarter profit results.
Apr. 10, 2009
Wells Fargo Bank, said net profit in the first quarter is expected to reach three billion U.S. dollars, hitting a record high in the first quarter and much better than the same quarter last year, two billion U.S. dollars, 55 cents earnings per share, but also easily exceed 23 per share analysts expected the United States at a surplus.
Pick-up due to housing loans, the interest rate has been reduced to an average of 5 percent below the previous quarter housing loans reached 100 billion U.S. dollars and is expected to remain strong this season, the nation's second-largest lender industry proud to write the first quarter profit results.
Apr. 10, 2009
China Merchants Bank reports: 32 million Chinese have a 9 trillion assets of the rich
China Merchants Bank made the first report of domestic private banks: in 2009 more than 10 million people to reach the assets of high net worth 320,000
March 30, the investment bank in Beijing, the Ministry of Foreign Private Bank issued a report in China This is the first report on private banking.
"Chinese Private Wealth Report 2009" (hereinafter referred to as "Report"), are from Chinese banks and investment management consulting firm Bain issued jointly, the total amount of private wealth in China, Chinese high-end distribution of rich people, carried out a detailed analysis.
Bain & Company partner, President of Greater China financial services Zhuang Runhao said: "This is the first Chinese watch from the Chinese report, are from top to bottom, with more than 800 deep-effective customer visits, the talk of the reports . "
Bank investment in retail banking Liu Jianjun, general manager admit to reporters that the report came out, they re-examine its own private banking clients for the view.
According to the report that in 2008 China may invest more than 10 million yuan assets of high net worth crowd up to 300,000 people, per capita investment of assets held by about 2,900 ten thousand yuan, a total investible assets held by 8.8 trillion yuan.
This year, the Chinese high net worth population is expected to reach 320,000 people, high net worth crowd investible assets held more than nine trillion yuan scale.
Source: www.sina.com Apr. 6, 2009
March 30, the investment bank in Beijing, the Ministry of Foreign Private Bank issued a report in China This is the first report on private banking.
"Chinese Private Wealth Report 2009" (hereinafter referred to as "Report"), are from Chinese banks and investment management consulting firm Bain issued jointly, the total amount of private wealth in China, Chinese high-end distribution of rich people, carried out a detailed analysis.
Bain & Company partner, President of Greater China financial services Zhuang Runhao said: "This is the first Chinese watch from the Chinese report, are from top to bottom, with more than 800 deep-effective customer visits, the talk of the reports . "
Bank investment in retail banking Liu Jianjun, general manager admit to reporters that the report came out, they re-examine its own private banking clients for the view.
According to the report that in 2008 China may invest more than 10 million yuan assets of high net worth crowd up to 300,000 people, per capita investment of assets held by about 2,900 ten thousand yuan, a total investible assets held by 8.8 trillion yuan.
This year, the Chinese high net worth population is expected to reach 320,000 people, high net worth crowd investible assets held more than nine trillion yuan scale.
Source: www.sina.com Apr. 6, 2009
China and Argentina to sign currency swap agreement
Yesterday, reporter learned that People's Bank of China and Argentina on the 29th at the Central Bank of Argentina signed the equivalent of 70 billion yuan RMB currency swap framework agreement, which is so far the history of China and Latin American countries on the largest financial transactions.
Protocol from being here 50 take part in the Inter-American Development Bank annual meeting of the People's Bank of China and Argentina signed by the Governor of the Bank. According to the framework agreement, Argentina imported goods from China may use RMB, no longer use the U.S. dollar as an intermediary currency transactions.
It is reported that the growing financial crisis at this very period of the spread of the region to stabilize the monetary system and guard against financial risks and reduce the spread of the crisis played a positive effect. In order to save the U.S. dollar resulting from the payment of costs and the promotion of bilateral trade development between the two countries after Argentina and Brazil have begun to use both the national currency to replace U.S. dollar-denominated trade.
Market analysts point out that this is China and the international community to the impact of a dominant position from the U.S. effort, the Federal Reserve's quantitative easing monetary policy to the U.S. dollar brought about by great uncertainty.
Source: www.china-cba.net Apr. 3, 2009
Protocol from being here 50 take part in the Inter-American Development Bank annual meeting of the People's Bank of China and Argentina signed by the Governor of the Bank. According to the framework agreement, Argentina imported goods from China may use RMB, no longer use the U.S. dollar as an intermediary currency transactions.
It is reported that the growing financial crisis at this very period of the spread of the region to stabilize the monetary system and guard against financial risks and reduce the spread of the crisis played a positive effect. In order to save the U.S. dollar resulting from the payment of costs and the promotion of bilateral trade development between the two countries after Argentina and Brazil have begun to use both the national currency to replace U.S. dollar-denominated trade.
Market analysts point out that this is China and the international community to the impact of a dominant position from the U.S. effort, the Federal Reserve's quantitative easing monetary policy to the U.S. dollar brought about by great uncertainty.
Source: www.china-cba.net Apr. 3, 2009
Bank of China to buy stake in Rothschild bank deal canceled
Bank of China spokesman Wang Zhaowen said that the French Rothschild Bank of China to buy 20% stake in the bank's transactions, not because of the completion of formalities related to investment, leading to more than the agreed cancellation period.
Bank of China and the Rothschild Bank signed an agreement in September last year. Under the agreement, Bank of China will spend about 236.3 million euros to acquire 20% stake in Rothschild bank and become its second largest shareholder. December 31 when the parties to the transaction are agreed upon regulatory approval of the first closing date extended to March 31 this year.
Wang Zhaowen in an interview with reporters, said that despite efforts by both parties, but because in the second extension is not completed during the investment process, over the period of the agreement automatically canceled.
Wang Zhaowen said that even though failure to achieve investment bank Rothschild, but it will not affect the Rothschild Bank of China and the cooperation between banks. "We are actively looking for future business cooperation between the two sides."
Source: www.cs.com.cn Apr. 3, 2009
Bank of China and the Rothschild Bank signed an agreement in September last year. Under the agreement, Bank of China will spend about 236.3 million euros to acquire 20% stake in Rothschild bank and become its second largest shareholder. December 31 when the parties to the transaction are agreed upon regulatory approval of the first closing date extended to March 31 this year.
Wang Zhaowen in an interview with reporters, said that despite efforts by both parties, but because in the second extension is not completed during the investment process, over the period of the agreement automatically canceled.
Wang Zhaowen said that even though failure to achieve investment bank Rothschild, but it will not affect the Rothschild Bank of China and the cooperation between banks. "We are actively looking for future business cooperation between the two sides."
Source: www.cs.com.cn Apr. 3, 2009
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