The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

WireTap 0900 13/12/11

A round-up of the top stories from the specialist financial media, including news thatthe European bank meltdown will hit home in the U.S.

FSA seeks ban on hostile bank buy-outs

Hostile bank takeovers should be outlawed as part of a package of reforms needed to avoid a repeat of the catastrophic failings at Royal Bank of Scotland, the chairman of the Financial Services Authority has urged after releasing a long-delayed report into the the bank’s collapse. “[They] should either be completely banned or the regulator should have the power to block them,” Lord Turner told the Financial Times.

Click here for the full story

Europe’s bank meltdown will hit home in the U.S.

In less than six months, Americans' personal wealth has gone from having only an indirect connection to Europe to being held hostage by the leaders on the Continent, David Weidner argues. 

Click here for the full story

Europe's banks retreat from the East

Dozens of euro-zone banks flocked to Eastern Europe in recent years, hoping to harness the region's fast-growing economies and relatively untapped banking markets. Amid Europe's banking crisis, the situation has suddenly been thrown into reverse. 

Click here for the full story

SEC sues SIPC to force payouts in Stanford case

The Securities and Exchange Commission for the first time sued the agency that insures U.S. brokerage accounts to force it to pay investors in R. Allen Stanford's alleged $7 billion Ponzi scheme. 

Click here for the full story

State Bank on ‘Capital Hunt’ as Singh delays investment

State Bank of India (SBIN), the nation’s largest lender, plans to cancel untapped credit lines and change how some loans are classified to bolster its cushion against losses pending an infusion of government funds, Chairman Pratip Chaudhuri said. 

Click here for the full story

No one says who took $586 billion in Fed swaps done in anonymity

For all the transparency forced on the Federal Reserve by Congress and the courts, one of the central bank’s emergency-lending programs remains so secretive that names of borrowers may be hidden from the Fed itself. 

Click here for the full story

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree