Despite Dodd-Frank Act, community banks face ‘higher costs of capital’: Hoenig
Over 6,500 U.S. community banks may continue to face “higher costs of capital” than their big bank rivals even after a sweeping bank reform law has sought to end the ‘too-big-to-fail’ perception, Federal Reserve Bank of Kansas City President Thomas Hoenig said Monday.
“Because the market [...]
Archive for the ‘Global Economy’ Category
Hoenig: Big banks may still threaten their smaller rivals
August 23rd, 2010 by Financial Writer
Tags: banking sector, big banks, Capital economics, Federal Reserve, financial institutions, investors, recession, taxpayers
more...Eight Banks Fail in Four States
August 22nd, 2010 by Financial Writer
Eight banks were shuttered by regulators Friday, bringing the 2010 tally of U.S. bank failures to 118.
Six of the eight failed banks were included in TheStreet’sBank Watch List of undercapitalized institutions, based on second-quarter regulatory data provided by SNL Financial.
The Federal Deposit Insurance Corp. found buyers for the deposits and branches for all of the [...]
Tags: bank of america, Bankruptcy News, banks, business, financial markets, financial system, wall street
Euro Drops Five-Week Low Versus Dollar as Weber Cites ECB Liquidity Plan
August 20th, 2010 by Financial Writer
The euro fell to the lowest level in five weeks against the dollar after European Central Bank council member Axel Weber said the region’s economy may need help from the central bank through the end of the year.
The shared currency dropped to the least since July 1 versus the Swiss franc after Weber told Bloomberg [...]
Tags: businesses, economic growth, economists, economy recovery, european central bank, financial, global economic, home sales, us economy
Bundesbank boosts Germany’s growth outlook
August 19th, 2010 by Financial Writer
The Bundesbank said Thursday that Germany’s economy is on track to generate growth of around 3% for 2010 and that there is little chance of the United States going back into recession.
The assessment in the German central bank’s monthly report for August was credited with temporarily lifting U.S. stock index futures, while European shares extended [...]
Tags: banks, central bank, economists, economy recovery, european central bank, european markets, germany, Global Economy, money
European stocks down, growth fears offset earnings
August 18th, 2010 by Financial Writer
European stock markets slipped Wednesday as stronger earnings from U.S. retailers Wal-Mart Stores Inc. and Home Depot Inc. failed to ease worries about slowing growth in China and elsewhere.
Investors also discounted a new round of deal making, after BHP Billiton’s hostile $38.5 billion all-cash takeover for Potash Corp. of Saskatchewan, which the Canadian company’s board [...]
Tags: Dow Jones Industrial, economic indicators, economy recovery, european economy, european stocks, financial markets, housing market, stock market, wall street
China Expands Access to Bond Market
August 17th, 2010 by Financial Writer
China’s central bank said it will widen overseas access to its domestic bond market as part of a program to promote the use of its yuan currency in international trade.
The trial program, announced Tuesday, will allow some yuan held offshore to be invested in China’s interbank bond market, where most government and corporate debt trades [...]
Tags: bank of china, Chinese economy, economists, financial markets, financial system, investment
China Tops Japan as World’s No. 2 Economy
August 16th, 2010 by Financial Writer
China surpassed Japan as the world’s second-largest economy last quarter, capping the nation’s three- decade rise from Communist isolation to emerging superpower.
Japan’s nominal gross domestic product for the second quarter totaled $1.288 trillion, less than China’s $1.337 trillion, the Japanese Cabinet Office said today. Japan remained bigger in the first half of 2010, the government [...]
Tags: Chinese economy, economic growth, economists, economy, Global Economy, Global Recession, japan's economy
Defying Others, Germany Finds Economic Success
August 15th, 2010 by Financial Writer
Germany has sparred with its European partners over how to respond to the financial crisis, argued with the United States over the benefits of stimulus versus austerity, and defiantly pursued its own vision of how to keep its economy strong.
Statistics released Friday will buttress the German view that they had the formula right all along. [...]
Tags: businesses, economic growth, economic recovery, financial, financial crisis, financial system, unemployment, us economy
Japan Is Alone Over Yen
August 13th, 2010 by Financial Writer
The last time the dollar dropped below the levels it reached Wednesday against the yen, the Bank of Japan and the Federal Reserve jointly intervened to push it higher. That was in July 1995.
No wonder currency traders got a bit nervous Thursday when Japanese officials complained about the strength of their currency amid the latest [...]
Tags: bank of china, bank of japan, economic crisis, economy, Federal Reserve, financial markets, financial system, us consumers, us economic
Yen Weakens on Speculation Japan Will Curb Gains
August 12th, 2010 by Financial Writer
The dollar gained against the yen and euro after U.S. jobless-insurance claims unexpectedly rose, fueling appetite for the currency’s safety amid speculation the world’s largest economy may be slow to recover.
The euro weakened versus the dollar, after dropping the most in almost 22 months yesterday, as a report showed European industrial production unexpectedly contracted in [...]
Tags: bank of japan, economists, economy activity, japan's economy, japanese business, unemployment rate