Fed reduces length of emergency loans Nov 18, 2009
Banks have to pledge collateral for the Fed loans. The Fed's objective is to help banks get over any trouble spots so that they can continue to make loans. (USA Today -- Money)
Frank wants tougher derivatives rules Nov 18, 2009
The Obama administration wants to increase transparency by forcing more trades onto exchanges and through clearinghouses, which guarantee the transactions and require dealers and corporate end-users to post collateral and meet margin requirements. Schapiro and Gensler have asked Congress to require all contracts that are accepted to be cleared and to give them power to impose those requirements on other types of contracts. (Boston Globe)
Cash-rich promoters buy back pledged shares in Q2 Nov 18, 2009
Promoters pledge their holdings either to finance their private transactions or as a collateral for their companies borrowings. In the last fiscal year, which witnessed a stock market meltdown, many promoters had to pledge additional shares after the value of shares held as collateral dropped considerably ... Over the past seven months when share prices climbed back sharply, some promoters would have sought the release of pledged shares as the value of the collateral rose to comfortable... (India Times)
Australia's Reserve Bank Plans to Reduce RMBS as Collateral, Debelle Says Nov 18, 2009
RBA Signals Reduction of RMBS as Australia Collateral (Update1) - Bloomberg ... RBA Signals Reduction of RMBS as Australia Collateral (Update1) ... Nov. 18 (Bloomberg) -- Australias central bank expects to reduce the amount of residential mortgage-backed securities it accepts as collateral from the nations lenders for repurchase agreements, Assistant Governor said. (Bloomberg -- Australia & New Zealand)
READ: Bernanke's speech Nov 17, 2009
Moreover, the banking agencies recently encouraged banks to work with their creditworthy borrowers to restructure troubled CRE loans in a prudent manner, and reminded examiners that--absent other adverse factors--a loan should not be classified as impaired based solely on a decline in collateral value. The Job Market In addition to constrained bank lending, a second area of great concern is the job market. (USA Today -- Money)
Atlantic BancGroup loses $2.2M in 3Q Nov 17, 2009
Atlantic BancGroup notified the SEC that it would be late in filing its third quarter report largely due to evaluating the collateral of assets on eight loans and foreclosed real estate in late October, which included the $3. 5 million write downs on two of those loans. (Jacksonville Business Journal, FL)
Longtime Collections Firm Dissolves Amid Client Lawsuits Nov 17, 2009
The suit, filed in Tennessee's Middle District by Roger G. Jones and Austin L. McMullen of Nashville's Bradley Arant Boult Cummings on behalf of plaintiff ACF 2006 Corp., accuses the defendants of breach of contract and conversion and says the loans were secured by collateral including all of the accounts and intangibles belonging to the firm and collection agency. In a new suit filed Sept. 18 in Fulton County Superior Court, Zenith Acquisition Corp. and Northstar Capital Acquisition claim the... (Law.com)
UK MPs seek to veto EU financial reforms Nov 17, 2009
"We want to underline that banks will end up paying more to draw on the insurance line if they are overly reliant on illiquid, risky collateral implying that their balance sheet was overly exposed to liquidity risk," Tucker said. "These considerations have to be taken into account if central banks are to lend against very broad asset classes.". (Business Report, South Africa)
Open Range Energy Corp. Reports Third Quarter Results, Provides Operational Outlook and Announces First-Half 2010 Guidance Nov 17, 2009
The Corporation does not typically obtain collateral from joint venture partners; however, the Corporation has the ability to withhold production from joint venture partners in the event of non-payment. Cash and cash equivalents, when outstanding, consist of cash bank balances and short-term deposits maturing in less than 90 days. (CCNMatthews Press Releases)
Eximguaranty holds workshop for SMEs Nov 17, 2009
Eximguaranty's corporate objective is to assist banks and non-bank financial institutions in extending credit facilities to borrowers who may have inadequate or no collateral. It also provides internal and external guarantees to mainstream financial institutions and major contract awarding agencies in the disbursement of foreign and local credit lines. (Ghana Web, Ghana)
Banking Fix Made Easy With Six Simple Steps Nov 17, 2009
No. 4: Credit ratings on structured securities such as collateralized-debt obligations were deeply flawed ... It got into trouble because it had to post tens of billions of dollars in extra collateral as its positions went sour ... Thus, the relevant question is the amount of collateral supporting each trade. (Bloomberg -- Columnists)
Bernanke Lunches With Wall Street as Jobless Prosperity Buoys Stock Market Nov 16, 2009
The Feds strategy, coupled with the federal governments $787 billion stimulus package, also faces the risk of collateral damage, including dollar pressure, he adds. The dollar has 15 percent since March against a basket of the most- traded currencies. (Bloomberg)
BREAKING NEWS 2 men killed in 3-vehicle crash; Kuhio Highway reopened (30) Nov 15, 2009
kawiseguy wrote on Jun 21, 2009 1:02 PM:" Two people are dead and the collateral damage to the families is devastating, yet Tutuwahine338 tells us "IT DOESN'T MATTER WHO WAS AT FAULT." What an absurd comment. Tell the victims' families that it doesn't matter. This wasn't an "act of God. " From all that I've heard and based on the newspaper accounts, it appears to be a case of reckless endangerment. A witness or witnesses obviously saw what happened and the details of the events that preceded the... (Lihue Garden Island, HA)
Impact of extended trading hours Nov 15, 2009
Early opening of the markets will require the trading members/clients to bring in additional capital for margining /collateral purposes ... Moreover, in order to obligate the margin /collateral requirements of their investors, the banks/financial institutions may also need to keep their offices open for the extended duration. (India Times)
FDIC pushes for bank flexibility on commercial real estate Nov 14, 2009
The FDIC is encouraging banks to work with creditworthy borrowers those who can continue funding a loan s principal and interest to restructure loans that might otherwise be deemed high-risk because the loan value exceeds that of the collateral against it. This article is for Paid Subscribers ONLY.. (Nashville Business Journal, TN)
FDIC encourages banks to restructure CRE loans Nov 14, 2009
The FDIC is encouraging banks to work with creditworthy borrowers those who can continue funding a loan s principal and interest to restructure loans that might otherwise be deemed high-risk because the loan value exceeds that of the collateral against it. The financial regulators recognize that financial institutions face significant challenges when working with commercial real estate borrowers that are experiencing diminished operating cash flows, depreciated collateral values, or prolonged... (Nashville Business Journal, TN)
Insights into private equity and venture capital Nov 14, 2009
Debt capital is a loan that is repaid over a period of time, with the entrepreneur providing collateral to secure the loan and paying an interest rate on the repayments of the loan. The providers of the loan require the collateral as security for non-repayment and make a return on the capital provided by asking for an interest payment over and above the repayment of the initial capital provided. (Business Report, South Africa)
Company delays Moreau wood pellet plant Nov 14, 2009
Many developers have been told that financing is available only if there is enough collateral to eliminate all risk, he said. Woodstone already scaled back the size of the project from $25 million to $15 million last fall as the economy soured, McLister said. (Albany Business Review, NY)
Federal Case Threatens Mosques Nov 14, 2009
Still, the mosques and schools could be collateral damage in the case. On Friday, the government moved to cut off Alavi's direct access to its money, according to court records. (CBS News)
Regulators order Orion Bank to fire CEO Jerry Williams Nov 14, 2009
The loans were made without adequate analysis of the borrowers creditworthiness, capacity for repayment and valuation of collateral, and the loans were structured to make it appear that the bank was reducing its level of classified assets, the directive said. Williams took steps to ensure that $15 million of loan proceeds were used to buy stock in the bank holding company to prop up its capital, but he told the Fed that the $15 million in capital was raised without any financing provided by the... (Tampa Bay Business Journal, FL)
'Lending crisis': Seacoast entrepreneurs lash out at bankers Nov 14, 2009
John Shaw, principal of Itaconix, a "green" chemistry company in Hampton Falls, said he's found banks to be "impossible to deal with," adding that one bank wanted him to put up his home as collateral, in addition to a certificate of deposit. Toby Clarke, vice president of Durham-based Goss International, said his company has had to cut its work force from 1,200 to 760 people in one year. (Seacoast New Hampshire)
Regulators monitor First Community Bank Nov 14, 2009
8 million in write-downs and reserves on real estate loans due to a substantial devaluation in collateral values. The company has $561 million in assets and operates 11 banking offices along the west coast of Florida. (Tampa Bay Business Journal, FL)
Fed Could Offer `Backstop' to Firms with Enough Collateral, Dudley Says Nov 14, 2009
Nov. 14 (Bloomberg) -- Federal Reserve Bank of New York President said the central bank could curtail the risk of future liquidity crises by providing a backstop to solvent firms with sufficient collateral. The central bank could commit to being the lender of last resort to such firms, Dudley said in a speech yesterday in Princeton, New Jersey. (Bloomberg -- US)
FDIC's Bair Says Using TARP to Shore Up Bank Capital Fueled Public Outrage Nov 14, 2009
If any individual institution gets into trouble again and a conventional bankruptcy process would pose collateral damage to us, the rest of us, it should be put into a special resolution process just as we do with banks now, Bair said. It should be broken up and sold off. (Bloomberg -- US)
Blockbuster Reports Third Quarter 2009 Financial Results Nov 13, 2009
8 million in restricted cash, which includes cash collateral for Blockbuster's letters of credit. Cash used in operating activities during the quarter was $53. (Yahoo! Wire -- Entertainment News)
Argosy Energy Inc. Announces Third Quarter Results Nov 13, 2009
Statements relating to "reserves" or "resources' are deemed to be forward looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described can be profitably produced in the future.Investors should not place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. These forward-looking statements are made as of the date... (CCNMatthews Press Releases)
So much for the Dems big tent Nov 13, 2009
Nothing built with public money should later be sold or used as collateral for borrowing by any state or local government or agency unless title and possession pass to a third party. The only beneficiaries here are those who get rich by getting government in debt and bureaucrats trying to avoid financial reality. (Atlanta Journal-Constitution -- Opinion)
Coastal Banking Company Reports Third Quarter 2009 Earnings Nov 13, 2009
"Our Special Assets Group moved a substantial amount of problem loans from non-accrual status to other real estate owned (OREO), enabling us to liquidate these assets. As a result, our past due loans improved and have stabilized at an acceptable level, excluding non-accruals. We also saw signs of stabilization in new problem loans, leading us to believe that asset quality expenses in the future likely will be associated with efforts to liquidate collateral rather than from increases in new... (Primezone Releases)
McDonell's defense sets tone for success Nov 13, 2009
Starter Alex Hiess was also out for a couple of weeks with a strained medial collateral ligament (MCL), forcing Luke Ryba and Lucas Roth to fill in. Alex Hiess returned the second round of the playoffs and Brown said he was key due to the veteran experience be brings. (Chippewa Falls Chippewa Herald, WI)
Briefing: Derivatives Nov 13, 2009
About one-third of OTC trades require no margin or collateral requirements at all ... On exchanges, traders must put up margin or collateral ... CCPs take margin and collateral according to the size of trades, so that if a trader defaults, the clearing house should see his counterparty right. (The Economist)
Lee leaves legacy at Linebacker U Nov 13, 2009
In camp his freshman year in 2005, Lee remembers partially tearing his medial collateral ligament (MCL). With all the schoolwork, the rehab and fighting for playing time, Lee admitted he got a little homesick through early fall. (Daily Collegian, PA)
Small businesses struggling to find cash to grow Nov 12, 2009
Collateral values and cash flow are down for many borrowers, but deals can and are being made. Regions, like many other banks, is building more business relationships, opening business checking accounts and moving away from a purely transactional banking model. (Atlanta Business Chronicle, GA)
Macks, Pirates set for semifinal showdown Nov 12, 2009
Hiess strained his medial collateral ligament (MCL) on Oct. 16 and has played linebacker in the playoffs with little action at running back. There are no questions about the Gilman running game, however. (Chippewa Falls Chippewa Herald, WI)
Peyto Energy Trust Announces Third Quarter 2009 Results Nov 12, 2009
A General Security Agreement with a floating charge on land registered in Alberta is held as collateral by the bank. The average borrowing rate for the three and nine months ended September 30, 2009 was 4. (CCNMatthews Press Releases)
Zimbabwe: Farm Labour Shortage Threatens Food Production Nov 12, 2009
Chimbwanda told IRIN that although banks have finally agreed to provide loans, with the government's offer letters on the land as collateral, the slow pace of approving loans was not taking into account the window period of the main planting season ... Banks have only recently started accepting the offer letters as collateral for loans. (allAfrica.com)
The White House and HISTORY(TM) Together Honor Veterans as Part of 'Take a Veteran to School Day' on Veterans Day Nov 12, 2009
Langley has contributed to several scholarly publications, including: The Army Lawyer, the XVIII ABN Corps Field Guide to leaders for Crisis Communication, and the Center for Army Lessons Learned training publications on Coalition of Forces Matrices/Collateral Damage Assessment Tools. The Collateral Damage Tools were published at the 2002 Operational Law Conference in Fort Bragg, NC and were adopted by the XVIII Airborne Corps for use in their Standing Combat Operations Orders and were... (Yahoo! Wire -- Entertainment News)
XSEL Announces Financial Results for the Third Quarter 2009 Nov 12, 2009
0 million from UBS AG using the Principal Protected Note as collateral. On September 15, 2008, Lehman Brothers filed for bankruptcy, and, after the Company refused to post additional collateral for the loan, on September 25, 2008, UBS AG filed a demand for arbitration with the American Arbitration Association against the Company seeking repayment of the bank borrowings. (Yahoo! Wire -- Entertainment News)
Seven emerges from Chapter 11 bankruptcy Nov 12, 2009
Carlton holds collateral that it will have an option to purchase at the end of the lease. An additional $550,398 in Carlton debt is classified as unsecured and is to be paid back at 15 cents on the dollar, the same as other unsecured claims in the reorganization. (Twin Cities Business Journal, MN)
Bad Credit Cash Loans - No Credit C... Nov 11, 2009
Pawnbroker loans are available to those who are able to provide collateral, such as gold, jewellery, endowment policies, vehicles and electrical equipment. The collateral will be assessed and valued in order to decide upon the maximum size of a - it is possible to borrow well in excess of $10,000 ... The majority of bad credit cash loans have a 6 month term, although this could potentially be extended should the value of the collateral be sufficient. (Suite101.com)
Layaway Pros and Cons Nov 11, 2009
and the store holds the item as collateral. When you finish paying for it, it's all yours. (CBS News -- Early Show)
Community Central Bank Corporation Announces Q3 Results Nov 11, 2009
The majority of the increase in total noninterest expense was recorded in other operating expense and was attributable to expenses associated with write downs on other real estate owned and other repossessed collateral ... 54% Credit Quality -------------- Nonaccrual Loans $30,372 $17,584 Loans past due 90 days and still accruing 145 44 ---------- ---------- Total nonperforming loans $30,517 $17,628 ========== ========== Total Troubled Debt Restructuring $15,084 $8,162 Troubled Debt... (Primezone Releases)
/C O R R E C T I O N from Source -- Phoenix Coal Inc./ Nov 11, 2009
The Company also had restricted cash, cash equivalents and certificates of deposit as collateral for letters of credit for reclamation bonding and escrowed funds from the sale of its surface mining operations in the amount of $14 ... In addition, the Company had restricted cash, cash equivalents and certificates of deposit as collateral for letters of credit for reclamation bonding and escrowed funds from the sale of its surface mining operations in the amount of $14 ... 7 million on the... (Canada Newswire)
A comprehensive solution to combustible markets Nov 11, 2009
Consequently when AIG s credit rating was downgraded, it could not meet its collateral obligations ... AIG would have been forced to post collateral to secure its exposure as well as to report all of its transactions to regulators. (Boston Globe)
Phoenix Coal Inc. reports fiscal 2009 third quarter results Nov 11, 2009
LOUISVILLE, KY, Nov. 11 /CNW/ - Phoenix Coal Inc. (TSX: PHC) ('Phoenix' or the 'Company'), announced today its financial results for the three- and nine-month periods ended September 30, 2009 (Canada Newswire)
Granite Park developer Barbis files bankruptcy Nov 11, 2009
The 18 acres were the loan's collateral. The city is expected to take possession of the property or dispose of it to recover some of its money. (Fresno Bee)
Zimbabwe: Mugabe Must Honour Power-Sharing Pact Nov 11, 2009
The second is that a system giving all farmers proper title to land be established so they can borrow against that land as collateral rather than be behoven to politicians. The third is that people who suffered fixed property losses incurrent during the politically motivated Gukurahundi, Murambatsvina, Land Reform Program and as a result of election violence be eligible. (allAfrica.com)
Angle Announces 2009 Third Quarter Results Nov 10, 2009
The Company does not typically obtain collateral from petroleum and natural gas marketers or joint venture partners; however, Angle does have the ability to withhold production from joint venture partners in the event of non-payment ... The Company does not typically obtain collateral from petroleum and natural gas marketers or joint venture partners; however, Angle does have the ability to withhold production from joint venture partners in the event of non-payment. (CCNMatthews Press Releases)
Health-care reformreaches home stretch Nov 10, 2009
Will this massive redesign even cure the maladies that "Dr." Moore diagnosed -- and avoid collateral complications. Conservatives have been outspoken in opposition on mostly ideological grounds: Stronger insurance regulation makes government too powerful. (NJ.com -- Times)
Metcalf Paving seeking OK to borrow $100,000 Nov 10, 2009
In a motion filed Monday on behalf of the company by attorney Ira B. Charmoy of Bridgeport, Metcalf states it has been unable to reach an agreement with Naugatuck Savings Bank, which has a lien on the company's assets and receivables, to allow Metcalf to use its cash collateral. The company needs cash to "continue in business, reorganize and maintain its employees," the motion states. (Republican-American)
* Credit crisis has abated: Berkshire Nov 10, 2009
1 billion of collateral with trading partners, the company said in the filing. This story has been viewed 310 times. (Taipei Times, Taiwan -- World)
Horizon Financial Reports Second Quarter Fiscal 2010 Results and Form 10-Q Filing Nov 10, 2009
"However, no assurances can be made that we will be successful in this regard. "As part of our balance sheet management process, we are deleveraging our balance sheet and have increased liquidity to meet the needs of our customers," Jacobson continued. Cash, interest bearing deposits and investment securities totaled $221 million, which is almost double the level of liquid investments on the balance sheet a year ago. Net loans are down $302 million, or 24% year-over-year. Of the reduction, $204... (Primezone Releases)
Feds tell inspectors to back off on current loans Nov 10, 2009
The recession has caused collateral underlying many loans to fall enough in value that it no longer covers the loan. If the borrower is current in payments, regulators are telling employees in the field to be careful before telling a bank to label such a loan troubled. (Sacramento Business Journal, CA)
Bilfinger eyes $1b-plus IPO Nov 10, 2009
The companys chief financial officer, Oleg Fedonin, told Bloomberg he had received various proposals from investment banks on the best way to make use of the stake, including as collateral to raise funding. Magnitogorsk invested in Fortescue in 2007 when it was thinking about building a steelmill in Australia and at the time had planned to increase its stake if the project proceeded. (Sydney Morning Herald -- Business)
Telecom revenues back to 08 levels Nov 9, 2009
Banks will ask for additional collaterals and comforts and may not be willing to fund them under the current environment , this CEO said ... Not one of the eight banks asked us for additional comforts or collateral, chief executive officer Shamik Das told ET. The latest Trai data will also result in the finmin strongly opposing to any cuts in telecom levies. (India Times)
Letters to the editor (11/9/09) Nov 9, 2009
It won't do any good to ask the GOP to tone it down, and we can't prevent collateral damage. So, does anyone have a solution. (Anchorage Daily News)
Small businesses struggling as unemployment goes higher Nov 9, 2009
That's largely because they don't have bricks-and-mortar assets that can serve as collateral, says Molly Brogan, vice president of the National Small Business Association. Limited exports. (USA Today -- Money)
Silver possesses good investm00004000ent potential Nov 9, 2009
In mid-October the market behaved in a somewhat indifferent manner to the news of CME (Chicago Mercantile Exchange) accepting gold as collateral and in turn emphasizing its status as a currency. However, the recent market reaction to the IMF sale to the RBI highlights that traders are taking notice of gold's rising demand as a better store of value than paper currencies like the dollar. (India Times)
Buffett Says `Credit Crisis Has Abated' After Berkshire's Profit Triples Nov 9, 2009
1 billion of collateral with trading partners, the company said in the filing. The sale of insurance from underwriting units, which typically the largest portion of Berkshire profit, will be curtailed to guard capital, the company said. (Bloomberg -- US)
Florida CFO Alex Sink backs FDIC real estate guidelines Nov 8, 2009
Under the guidelines, loans to creditworthy borrowers that have been restructured and are current will not be classified as high risk by regulators solely because the collateral backing them has declined to an amount less than the loan balance. I think those new guidelines will be well received, Sink said. (Tampa Bay Business Journal, FL)
Ministry: NATO Strike Kills Afghan Forces Nov 8, 2009
Sadly, collateral damage and death by friendly fire happens. As long as this was a mistake, it is an unfortunate aspect of war. (CBS News)
Asia central banks wary of rushing into gold Nov 7, 2009
"Gold is a secure asset but historical statistics show that, excluding its speculative side, it yields a low, long-term rate of returns from collateral fees," she said. Even at $1,000 an ounce, all the gold bullion in the world is worth no more $1 trillion, or less than half China's $2. (India Times)
America's carmakers: Rinsed and raring to go Nov 7, 2009
6 billion it had raised in 2006, before the credit markets froze, by pledging all its North American assets as collateral. All three firms will now be helped by what may be a quicker and stronger recovery in car sales, particularly in America, than most people are expecting. (The Economist)
Buffett's Berkshire Hathaway profit triples Nov 7, 2009
Buffett's firm was required to post about $US50 million in collateral to trading partners on derivatives as of Sept. 30, compared with $US650 million three months earlier. The firm may have to post as much as $US1. (Sydney Morning Herald -- Business)
What is a patent? Join the debate Nov 7, 2009
The IEEE-USA said the Federal court's decision "creates new confusion" that is causing "collateral damage to software-based patents, with the Patent Office denying patents and district courts striking down granted patents." Like Microsoft, it recommended returning to an older and broader patent test involving "machine, manufacture, or composition of matter" the "provides a good and clear line for even the most cutting-edge technology," it said. Open source advocate Red Hat argued a bolder... (EETimes)
Vital for banks to manage liquidity risk Nov 7, 2009
Lastly, the reporting challenge revolves around having the right solutions in place to monitor the defined measures and indicators together with a new collateral management system and flexible ad hoc reporting capabilities. Most Viewed. (The Star Online, Malaysia -- Business)
