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
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
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