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Banking

WireTap 0900 17/05/12

A round-up of the key stories across the specialist financial media, including news that the ECB is to temporarily stop lending to some Greek banks


ECB stops loans to some Greek banks as Draghi talks exit

The European Central Bank says it will temporarily stop lending to some Greek banks to limit its risk as president Mario Draghi signalled the ECB won’t compromise on key principles to keep Greece in the euro area.

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HSBC says turnaround plan on target, costs cut by $2 billion

HSBC, Europe''s biggest bank, says it cut costs by $2 billion after one year of a three-year turnaround plan, and is on target to meet its return on equity and other financial targets.

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Spain bids to pin down real-estate losses

Spain’s government will on Thursday announce the appointment of BlackRock and Oliver Wyman as independent valuers of the real-estate loans that lie at the heart of the country’s banking crisis.

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RBC, Credit Suisse among bidders for BofA wealth units: sources

Royal Bank of Canada and Credit Suisse are among suitors who have put in initial bids to buy the non-US wealth management business of Bank of America in a deal that could be worth about $2 billion, sources say.

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SEC probes role of hedge fund in CDOs

US securities regulators are investigating hedge-fund firm Magnetar Capital LLC, which bet on several mortgage-bond deals that wound up imploding during the financial crisis, according to people familiar with the matter.

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