HSBC bids farewell to dollar supremacy... Sep 25, 2009
" - ALAN If we give aid to all countries the way we did in Iraq, there are entire skids of dollars disappearing left and right. But really, the interest rates are money supply. When they go down it is a direct result of increasing the money supply. The Fed monetizing debt leads to an increase in money supply. We no longer know the real money supply because large time deposits, institutional money-market funds, short-term repurchase agreements, along with other larger liquid assets are no longer... (The Drudge Report)
Fed's Exit Strategy May Use Money Market Funds: Report Sep 24, 2009
The Fed would borrow from the funds via reverse repurchase agreements involving some of the huge portfolio of mortgage-backed securities and U.S. Treasuries that it acquired as it fought the financial crisis, the newspaper reported, without citing any sources. This would drain liquidity from the financial system, helping to avoid a burst of inflation as the economy recovered. (ABC News -- Business)
Fed May Signal Economic Recovery Has Begun While Keeping Rate Near Zero Sep 23, 2009
Repurchase Agreements. Fed officials have started talks with bond dealers to use so-called reverse repurchase agreements to drain some of the cash the central bank has pumped into the economy, according to people with knowledge of the discussions. (Bloomberg -- US)
PepsiCo advises shareholders to reject TRC offer Sep 11, 2009
8 million shares subject to repurchase agreements. About 36. (Fresno Bee -- Business)
Missing Lehman Lesson of Global Shakeout Means Too Big Banks Prone to Fail Sep 8, 2009
Making sure the market wouldnt freeze for short-term loans called bank repurchase agreements, or repos, was where the participants had their biggest success -- and their bitterest disagreements. Default Scenario. (Bloomberg -- Germany)
Ruble Set to Weaken 10% by March on Russia's Budget Deficit, Shearing Says Sep 7, 2009
Bank Rossii will gradually replace its unsecured credit facilities with short term repurchase agreements, First Deputy Chairman to the Association of Russian Banks on Aug. 26. The volume of net credit provided to banks continues to fall, he said in a Sept. 4 interview with. (Bloomberg -- Europe)
Trichet: Crisis Not Over Yet; Recovery to Be Uneven Sep 5, 2009
One such measure is M3, which comprises of currency in circulation, overnight, short-term deposits and debt securities of up to two years, repurchase agreements and money market fund shares. "The exit strategy, in the end, will need to be invoked at the precise time in which the traditional link between broad money and our provision of liquidity to the banking system will reestablish itself," Trichet said. (SmartMoney)
GHL Acquisition Corp. Announces Share Repurchase Agreements Sep 3, 2009
Text hiding to spacing. NEW YORK, Sept. 2 /PRNewswire-FirstCall. (PR Newswire)
Bernanke May Redefine Fed's Mission With New Power Over Financial Markets Aug 26, 2009
The chairman devoted a section of his semiannual testimony before Congress in July to his exit strategy, saying the Fed could neutralize money in the banking system through tools such as interest on reserves, reverse repurchase agreements, or outright sales of securities. Unemployment Peaking. (Bloomberg -- US)
Govt may allow repurchase agreements in corp bonds: Finmin Aug 25, 2009
Govt may allow repurchase agreements in corp bonds shortly: Finmin- Bonds-Markets-The Economic Times ... Govt may allow repurchase agreements in corp bonds shortly: Finmin25 Aug 2009, 1300 hrs IST, REUTERS ... NEW DELHI: The Indian government may allow repurchase agreements (repos) in corporate bonds shortly, Finance Minister Pranab Mukherjee told news channel ET Now on Tuesday. (India Times)
Volcker Urges Bank-Like Rules for Money Funds to Protect Financial System Aug 25, 2009
They are also buyers of bank-issued securities such as certificates of deposits and repurchase agreements. Borrowing Rates. (Bloomberg -- US)
Center Bancorp, Inc. Announces Record Date for Proposed Rights Offering Aug 22, 2009
3 billion, total deposit funding sources, which includes overnight repurchase agreements, of $979. 3 million and stockholders' equity of $89. (Primezone Releases)
JER Investors Trust Inc. Announces Second Quarter 2009 Results Aug 11, 2009
JER INVESTORS TRUST INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands, except share data) June 30, December 31, 2009 2008 ------------- ------------ (unaudited) (audited) ASSETS Cash and cash equivalents $1,834 $8,357 Restricted cash 4,714 1,149 CMBS financed by CDOs, at fair value 91,182 180,210 CMBS not financed by CDOs, at fair value 17,339 42,432 Real estate loans, held for investment, financed by CDOs, at fair value 137,993 189,980 Investments in unconsolidated joint ventures... (PR Newswire)
Bank of the Carolinas Corporation Reports Second Quarter Financial Results Aug 7, 2009
Bank of the Carolinas Corporation Consolidated Balance Sheets (In Thousands Except Share Data) June 30, December 31, ------------ ------------ 2009 2008* ------------ ------------ (Unaudited) Assets Cash and Due from Banks $8,282 $8,271 Interest-Bearing Deposits in Banks 174 2,220 Federal Funds Sold 30,075 - Securities Available for Sale 127,607 108,639 Securities Held to Maturity 4,370 4,500 Loans 405,364 405,402 Less, Allowance for Loan Losses (6,714) (6,308) ------------ ------------ Total... (PR Newswire)
Netflix Announces Authorization of New $300 Million Stock Buyback Aug 7, 2009
Stock repurchases under this program may be made through any manner, including open market transactions, accelerated share repurchase agreements, or privately negotiated transactions with third parties, and in such amounts as management deems appropriate. The timing and actual number of shares repurchased, if any, will depend on a variety of factors including price, corporate and regulatory requirements, alternative investment opportunities and other market conditions. (Yahoo! Wire -- Entertainment News)
Capital Trust Reports Second Quarter 2009 Results Aug 5, 2009
At quarter end, the Company had reduced the aggregate outstanding principal balance under its three remaining repurchase agreements by $76. 9 million from their pre-restructuring total. (PR Newswire)
State Bank Corp Reports Second Quarter Results Aug 1, 2009
"market" : {"NAME" : "U.S.", "ID" : "us_market", "TZ" : "ET", "TZOFFSET" : "-14400", "open" : "", "close" : "", "flags" : {}} , "STREAMER_SERVER" : "http://streamerapi.finance.yahoo.com","arrowAsChangeSign" : false,"throttleInterval": "1000". Search for share prices. (Primezone Releases)
MFA Financial, Inc. Announces Pricing of Public Offering of Common Stock Jul 30, 2009
MFA intends to use the net proceeds from this offering to acquire additional residential mortgage-backed securities ("MBS"), including senior most tranches of non-agency MBS, consistent with its investment policy and for working capital, which may include, among other things, the repayment of its repurchase agreements. MFA expects to close the transaction on or about Tuesday, August 4, 2009, subject to the satisfaction of customary closing conditions. (PR Newswire)
Cathay General Bancorp Reports Second Quarter 2009 Results Jul 30, 2009
The decrease in net interest income from the prior year primarily resulted from increases in non-accrual loans and the increase in the borrowing rate on our long term repurchase agreements and other borrowed funds compared to the decreases in the prime rate. The majority of our variable rate loans contain interest rate floors, which help limit the impact of the recent decreases of the prime interest rate. (PR Newswire)
HopFed Bancorp, Inc. Reports Second Quarter Results Jul 29, 2009
HOPFED BANCORP, INC. Selected Financial Data (Dollars in thousands, except share and per share data) Selected Financial Indicators as of: ------------------------------------ June 30, 2009 December 31, 2008 ------------- ----------------- Total assets $1,001,794 $967,560 Loans receivable, gross 644,538 634,489 Securities available for sale 290,092 246,952 Securities held to maturity 413 454 Required investment in FHLB stock, at cost 4,281 4,050 Allowance for loan loss 7,427 6,133 Total deposits... (PR Newswire)
MidSouth Bancorp, Inc. Reports Second Quarter 2009 Earnings Jul 28, 2009
The decline in money market deposits reflected the effect of normal fluctuations in commercial deposits, the movement of some deposits to higher competitive rates and a shift to secured repurchase agreements ... The decrease in interest-bearing liabilities was primarily in commercial platinum money market deposits and certificates of deposit, partially offset by an increase in the average volume of repurchase agreements ... 23% Repurchase agreements and federal funds purchased 44,093 273 2. (PR Newswire)
Fed's Bernanke undertakes charm offensive Jul 27, 2009
Beyond the public's general awareness of interest rates, the intricacies of Fed monetary policy the reverse repurchase agreements, currency swaps and discount window borrowings arent typically a discussion topic at family summer barbecues. But the historic scope and high profile of the Feds actions over the past 18 months have not gone unnoticed on Main Street. (MSNBC -- Business)
Unusual times call for Bernanke measures Jul 26, 2009
The Fed can sell some of the assets it purchased, or conduct reverse repurchase agreements, which have the effect of draining reserves from the banking system on either a permanent or temporary basis. All things equal, outright sales would have the effect of lowering the price and raising the yield of those assets, including Treasury and mortgage-backed securities. (Business Report, South Africa)
Union Bankshares Corporation Reports Earnings Jul 25, 2009
Total borrowings, including repurchase agreements, decreased $54. 0 million from June 30, 2008 to $322. (PR Newswire)
Astoria Financial Corporation Announces Second Quarter Operating EPS of $0.11 Jul 23, 2009
ASTORIA FINANCIAL CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION --------------------------------------------- (In Thousands, Except Share Data) At At June 30, December 31, 2009 2008 ---- ---- ASSETS ------ Cash and due from banks $406,341 $76,233 Repurchase agreements 29,790 24,060 Securities available-for- sale 1,127,259 1,390,440 Securities held-to-maturity (fair value of $2,425,467 and $2,643,955, respectively) 2,384,681 2,646,862 Federal Home Loan Bank of New... (PR Newswire)
Eagle Bancorp, Inc. Announces 11% Increase in Earnings for the Second Quarter of 2009 and Lower Levels of Nonperforming Assets Jul 23, 2009
Total borrowed funds, which include customer repurchase agreements, increased to $174 ... 17% Loan Balances -Period End (in thousands): --------------------- Commercial and Industrial $ 317,657 $ 161,047 $ 317,657 $ 161,047 Real estate owner occupied - commercial $ 191,850 $ 129,978 $ 191,850 $ 129,978 Real estate - commercial $ 427,622 $ 267,195 $ 427,622 $ 267,195 Real estate - residential mortgage $ 8,678 $ 2,022 $ 8,678 $ 2,022 Construction - commercial and residential $ 274,299 $ 167,988 $... (Primezone Releases)
American National Bankshares Inc. Reports Second Quarter 2009 Earnings and Announces Third Quarter Cash Dividend Jul 23, 2009
American National Bankshares Inc. and Subsidiaries Consolidated Balance Sheets (Dollars in thousands, except share and per share data) Unaudited June 30 ASSETS 2009 2008 Cash and due from banks $13,905 $20,082 Interest-bearing deposits in other banks 26,879 8,265 Securities available for sale, at fair value 144,706 136,632 Securities held to maturity 6,712 9,828 Total securities 151,418 146,460 Loans held for sale 10,408 2,200 Loans, net of unearned income 557,042 568,830 Less allowance for loan... (PR Newswire)
1st Mariner Reports 2nd Quarter 2009 Results Jul 22, 2009
86) -31% Number of shares outstanding 6,452,631 6,387,398 65,233 1% Average basic number of shares 6,452,631 6,366,804 85,827 1% Average diluted number of shares 6,452,631 6,366,804 85,827 1% Summary of Financial Condition: At Period End: Assets $1,459,534 $1,288,624 170,910 13% Investment Securities 51,070 80,306 (29,236) -36% Loans 997,130 924,296 72,834 8% Deposits 1,095,950 948,098 147,852 16% Borrowings and repurchase agreements 230,981 195,697 35,284 18% Stockholders' equity 41,615 59,466... (PR Newswire)
Bernanke Takes Message, Shows Exit to the People: Caroline Baum Jul 22, 2009
The Fed can sell some of the assets it has purchased, or conduct reverse repurchase agreements, which have the effect of draining reserves from the banking system on either a permanent or temporary basis. Inflation Angst. (Bloomberg -- Columnists)
READ THE TESTIMONY: Bernanke's semiannual monetary report Jul 22, 2009
For example, we can drain liquidity from the system by conducting reverse repurchase agreements, in which we sell securities from our portfolio with an agreement to buy them back at a later date. Reverse repurchase agreements, which can be executed with primary dealers, government-sponsored enterprises, and a range of other counterparties, are a traditional and well-understood method of managing the level of bank reserves. (USA Today -- Money)
Unemployment could undercut U.S. recovery: Bernanke Jul 22, 2009
The report said the Fed could arrange so-called reverse repurchase agreements with financial firms. The Fed would sell securities from its portfolio, taking cash out of the system, with an agreement to buy them back later at a higher price. (Yahoo News -- Top Stories)
First M&F Corp. Reports Reduced Loss, Aggressively Manages Problem Assets Jul 21, 2009
First M&F Corporation Condensed Consolidated Statements of Condition (Unaudited) (In thousands, except share data) June 30 December 31 June 30 2009 2008 2008 ---- ---- ---- Cash and due from banks 42,128 47,738 52,983 Interest bearing bank balances 6,108 6,556 1,378 Federal funds sold 16,700 9,350 0 Securities available for sale (cost of $326,902, $223,882 and $238,072) 330,925 227,145 236,936 Loans held for sale 4,897 7,698 6,327 Loans 1,107,741 1,176,595 1,195,202 Allowance for loan losses... (PR Newswire)
Bernanke May Hold Rates Down by Showing He Can `Forcefully' Reverse Course Jul 20, 2009
U.S. central bankers have also mentioned using reverse repurchase agreements to help drain money from the financial system. In such a transaction, the Fed would sell bonds to Wall Street dealers with an agreement to buy them back later. (Bloomberg -- US)
Vital Signs: Tough Questions for Bernanke Jul 17, 2009
So far, Bernanke ave described some of the tools it has available to withdraw all this monetary fuel, including paying interest on reserves, reverse repurchase agreements, and other special operations. However, the markets increasingly want to hear how these tools will operate in what will be the Feds overall exit strategy. (BusinessWeek)
* TISC chairman suspended for a year Jul 17, 2009
During a routine financial supervision review last September, the commission found that TISC had failed to look after the interest of its shareholders in the management of the repurchase agreements for its structured note investments and its oversight in supervising its overseas subsidiary, Chang Li-jen (iRs), deputy director-general of the commissions Securities and Futures Bureau, told a media briefing. Under the Company Act (qk), it is up to TISC to determine whether it will replace... (Taipei Times, Taiwan -- Business)
Rurban Financial Corp. Reports a Parallel 2009 Second Quarter Jul 16, 2009
RURBAN FINANCIAL CORP. CONSOLIDATED BALANCE SHEETS June 30, 2009 and December 31, 2008 and June 30, 2008 June December June 2009 2008 2008 ------------ ------------ ------------ (Unaudited) (Unaudited) ASSETS Cash and due from banks $ 25,617,514 $ 18,059,532 $ 11,876,639 Federal funds sold -- 10,000,000 -- ------------ ------------ ------------ Cash and cash equivalents 25,617,514 28,059,532 11,876,639 Available-for-sale securities 109,988,049 102,606,475 96,706,231 Loans held for sale... (Primezone Releases)
Bernanke May Explain Exit Strategy From Fed's Biggest Monetary Expansion Jul 13, 2009
U.S. central bankers have mentioned reverse repurchase agreements, interest on reserves, and possibly sales of short- term debt as ways to sterilize reserves in the banking system ... Reverse repurchase agreements could require firms that deal directly with the Fed to hold billions of dollars in mortgage securities. (Bloomberg)
Chile Inflation Bond Yields Drop on Consumer Prices; Peruvian Sol Falls Jul 8, 2009
Argentinas central bank today cut the rate on one-day repurchase agreements, or repos, by 50 basis points to 12 percent and on seven-day repos to 12. 5 percent. (Bloomberg -- Latin America)
China's $4.1 Billion Auction of Yuan Debt Falls Short on Inflation Concern Jul 8, 2009
Repurchase agreements are used to drain funds from the financial system. A basis point is 0. (Bloomberg -- Asia)
Newsweek: Why Obama's 'reforms' won't prevent crises Jul 1, 2009
The term comes from "repurchase agreements" short-term loans (usually overnight) that require the borrower to pledge collateral (usually bonds) in return for cash; the collateral is then "repurchased" by repayment of the loan. No one knows the size of the repo market; Gorton thinks perhaps $10 trillion at any moment. (MSNBC -- Politics)
Its Finished, John Lanchester, The London Review of Books Jun 16, 2009
Treasury and other eligible bills subject to repurchase agreements ... Debt securities subject to repurchase agreements. (Harper's Magazine)
TD Bank Financial Group Reports Second Quarter 2009 Results May 28, 2009
The net increase reflected a $25 billion increase in securities and a $10 billion increase in loans (net of allowance for loan losses), partially offset by an $11 billion decrease in securities purchased under reverse repurchase agreements, an $8 billion decrease in other assets and a $5 billion decrease in interest-bearing deposits with other banks ... Securities increased largely due to a $21 billion increase in AFS securities primarily related to growth in the U.S. Personal and Commercial... (Canada Newswire)
CIBC Announces Second Quarter 2009 Results May 28, 2009
30 Oct. 31 ------------------------------------------------------------------------- Assets Cash and deposits with banks $ 8,301 $ 8,959 Securities 86,222 79,171 Securities borrowed or purchased under resale agreements 32,674 35,596 Loans 153,512 171,475 Derivative instruments 34,048 28,644 Other assets 32,606 30,085 ------------------------------------------------------------------------- Total assets $ 347,363 $ 353,930 -------------------------------------------------------------------------... (Canada Newswire)
Lehman seeks probe into sale to Barclays May 19, 2009
In a court filing Monday, lawyers for Lehman Brothers Holdings said they have become aware of apparent material discrepancies relating to Barclays obligation to pay employee bonuses and cure amounts, which affected the sale price, and asset transfers related to repurchase agreements conducted during the week that the sale was negotiated. EDITORS CHOICE. (FT.com -- Markets)
Kazakh Central Banker Rules Out Currency Devaluation, Says Rate May Be Cut May 16, 2009
Should oil prices resume their retreat to $25 a barrel, Kazakhstan has a contingency plan that includes seeking talks with the International Monetary Fund, issuing unsecured credit to lenders and expanding the list of collateral acceptable for repurchase agreements, Marchenko said. Crude slid 1. (Bloomberg -- Europe)
TMX CEO Sees Regulators Favoring Exchanges to Prevent Financial Meltdowns May 15, 2009
TMX is in talks with the Bank of Canada to allow it to clear over-the-counter contracts such as interest-rate repurchase agreements and interest-rate swaps on its own platform, Kloet said ... TMX may provide clearing of repurchase agreements within the year, followed by interest-rate swap contracts by 2011, he said. (Bloomberg -- Canada)
Arlington Asset Investment Corp. Reports First Quarter 2009 Financial Results May 8, 2009
30 ======== ======= Weighted average shares - basic (in thousands) 152,349 150,784 ======== ======= Weighted average shares - diluted (in thousands) 152,440 151,419 ======== ======= ARLINGTON ASSET INVESTMENT CORP. CONSOLIDATED BALANCE SHEETS (Dollars and shares in thousands, except per share amounts) (Unaudited) 31-Mar-09 31-Dec-08 ASSETS --------- --------- Cash and cash equivalents $224,566 $254,653 Receivables: Interest 495 1,378 Other 17,493 32,571 Investments: Mortgage-backed securities,... (PR Newswire)
Equitable Group reports record first quarter 2009 results May 7, 2009
We are particularly pleased that our strategies allowed us to improve net interest margin compared to the fourth quarter - despite another three Prime Rate decreases in the opening months of 2009 - and that we've grown our securitized mortgage portfolio to over $3. 2 billion with improved spreads. (Canada Newswire)
HSBC Bank Canada first quarter 2009 results* May 7, 2009
0 billion of securities and reverse repurchase agreements compared to C$17 ... HSBC Bank Canada Condensed Consolidated Balance Sheet (Unaudited) ------------------------------------------------------------------------- At 31 At 31 At 31 March December March Figures in C$ millions 2009 2008 2008(1) --------- --------- --------- Assets Cash resources: Cash and non-interest bearing deposits with the Bank of Canada and other banks $ 446 $ 434 $ 535 Deposits with regulated financial institutions... (Canada Newswire)
Investors Bancorp, Inc. Announces Third Quarter Financial Results May 1, 2009
01 par value, 200,000,000 shares authorized; 118,020,280 issued; 109,052,929 and 109,010,756 outstanding at March 31, 2009 and June 30, 2008, respectively 532 532 Additional paid-in capital 522,126 514,613 Retained earnings 415,612 486,244 Treasury stock, at cost; 8,967,351 and 9,009,524 shares at March 31, 2009 and June 30, 2008, respectively (128,121) (128,977) Unallocated common stock held by the employee stock ownership plan (36,514) (37,578) Accumulated other comprehensive loss (6,776)... (PR Newswire)
Camco Financial Announces First Quarter 2009 Results Apr 28, 2009
Deposits, including repurchase agreements, totaled $736. 1 million, a decrease of 1. (Primezone Releases)
Community Shores Reports 2009 First Quarter Results Apr 28, 2009
96% END OF PERIOD BALANCES Loans 198,171 207,508 219,182 219,616 224,796 Total earning assets 245,923 235,367 238,694 247,162 260,707 Total assets 267,109 255,612 256,891 265,348 278,758 Deposits 231,548 219,566 221,286 230,229 242,767 Shareholders' equity 14,603 14,946 15,669 15,613 15,805 AVERAGE BALANCES Loans 201,236 212,638 219,299 220,820 230,778 Total earning assets 239,499 246,819 246,701 254,201 262,269 Total assets 257,968 261,726 263,576 271,003 279,076 Deposits 223,007 224,895... (Primezone Releases)
Bridge Bancorp, Inc. Reports First Quarter 2009 Results Apr 17, 2009
BRIDGE BANCORP, INC. AND SUBSIDIARY Condensed Consolidated Statements of Condition (unaudited) (In thousands) March 31, December 31, March 31, 2009 2008 2008 ------------ ------------ ------------ ASSETS Cash and Cash Equivalents $ 20,694 $ 28,885 $ 16,811 Investment in Debt and Equity Securities, net: Securities Available for Sale, at Fair Value 286,873 314,495 221,364 Securities Held to Maturity 40,298 43,444 5,460 Loans 441,229 429,683 387,971 Less: Allowance for Loan Losses (4,560) (3,953)... (Primezone Releases)
Guaranty Bancorp Announces 2009 First Quarter Earnings Apr 16, 2009
GUARANTY BANCORP AND SUBSIDIARIES Unaudited Consolidated Balance Sheets March 31, December 31, March 31, 2009 2008 2008 ------------------------------------- (In thousands) Assets Cash and due from banks $ 34,982 $ 32,189 $ 51,770 Federal funds sold 1,000 13,522 9,788 ------------------------------------- Cash and cash equivalents 35,982 45,711 61,558 ------------------------------------- Securities available for sale, at fair value 99,107 102,874 116,742 Securities held to maturity 11,946... (Primezone Releases)
Bernanke: Fed Must be flexible on credit Apr 4, 2009
The Fed's tools for raising short-term interest rates once the crisis wanes include unwinding the emergency-loan programs, conducting reverse repurchase agreements against long-term securities holdings and increasing the rate the Fed pays on bank reserves, Mr Bernanke said. The emergency programs were designed to be "unwound as markets and the economy revive''. 1 Today in Business Story Tools More than $33 billion worth of employees' annual leave is sitting unused - with corporate males the... (Sydney Morning Herald -- Business)
Pakistan's Central Bank Injects $112 Million to Boost Inter-Bank Lending Mar 28, 2009
The State Bank added the amount through four-day reverse repurchase agreements at a rate of 12 ... Repurchase agreements allow banks to borrow funds using treasury bills as collateral and are used to manage occasional shortages or surpluses of cash in the inter-bank market. (Bloomberg -- Asia)
Origen Financial Announces Final Fourth Quarter and Full Year 2008 Results Mar 26, 2009
ORIGEN FINANCIAL, INC. CONSOLIDATED BALANCE SHEETS (Dollars in thousands) ASSETS (Unaudited) December 31, December 31, 2008 2007 ---- ---- Assets Cash and Equivalents $14,118 $10,791 Restricted Cash 12,927 16,290 Investment Securities 9,739 32,393 Loans Receivable 911,947 1,193,916 Servicing Advances - 6,298 Servicing Rights - 2,146 Furniture, Fixtures and Equipment, Net 401 2,974 Repossessed Houses 4,543 4,981 Other Assets 11,858 14,412 ------ ------ Total Assets $965,533 $1,284,201 ========... (PR Newswire)
FROM THE FED: Read the speech Mar 21, 2009
I have described elsewhere the various steps that the Federal Reserve is taking in coordination with other supervisors and market participants to improve the resiliency of over-the-counter derivative markets and the market for triparty repurchase agreements. Improvements in these areas should reduce the likelihood that the failure of any individual institution would have substantial spillover effects on other financial institutions or the broader markets, and thereby make it less likely that the... (USA Today -- Money)
Evergreen Investments Reduces Leverage of Two Closed-End Funds Mar 7, 2009
Debt/Reverse Repurchase Agreements: $155 million. Following the reductions in leverage described above, the percent of leverage employed by the Funds will be closer to historical norms. (PR Newswire)
First West Virginia Bancorp, Inc. Announces Year End and Fourth Quarter 2008 Earnings Mar 6, 2009
5% in 2008 as compared to 2007 and was primarily due to a decline in the interest earned on loans combined with the increase in the interest paid on other borrowings, offset in part by an increase in the interest earned on investment securities and the decrease in interest paid on deposits and repurchase agreements. A negative provision for loan losses in the amount of $100,000 was recorded during 2007 to reduce the allowance for loan losses based upon the decline in specific reserves required... (PR Newswire)
U.K. Savers Fled to Government Backed-Banks as HBOS, RBS Deposits Declined Mar 5, 2009
RBSs overall customer accounts, excluding repurchase agreements and stock lending, rose 3. 8 percent in the second half to 460 billion pounds. (Bloomberg -- UK)
BMO Financial Group Reports First Quarter Net Income of $225 Million, Reflecting Difficult Conditions in the Credit and Capital Markets Environments Mar 3, 2009
9 billion, higher securities lent or sold under repurchase agreements of $3 ... The net increase in securities lent or sold under repurchase agreements and securities sold but not yet purchased were used in trading activities. (Canada Newswire)
Center Bancorp, Inc. Declares Quarterly Dividend of $.09 Per Share Feb 27, 2009
0 billion, total deposit funding sources, which includes overnight repurchase agreements, of $689. 7 million and stockholders' equity of $83. (Primezone Releases)
Printing money to boost asset prices? Feb 16, 2009
The second is through repurchase agreements (repos) which are short-term loans extended by the Fed and secured with high-quality collateral. The repos amounts are normally quite large but are mainly used to alleviate short-term liquidity problem of financial institutions. (The Star Online, Malaysia -- Business)
Community Central Bank Corporation Goodwill Write Off Impacts Year End Results Feb 7, 2009
68% Condensed Balance Sheet Unaudited Audited December 31, December 31, 2008 2007 (In thousands) Assets Cash and equivalents $16,162 $9,183 Investments 83,944 73,313 Trading securities 17,463 20,115 Residential mortgage loans held for sale 3,302 4,848 Loans 407,117 389,912 Allowance for loan losses (7,315) (6,403) Other assets 36,277 29,337 Total Assets $556,950 $520,305 Liabilities and Stockholders' Equity Deposits $357,376 $328,635 Repurchase agreements 39,394 32,659 Federal Home Loan Bank... (PR Newswire)
