Finance Law

Spanish banks face credit ratings downgrades by Moody’s Investors Service as the government denied there was a run on deposits at Bankia SA (BKIA), the ailing lender it’s taking over. Moody’s is expected to make a statement on downgrades for Spanish banks as early as this evening, two people with knowledge of the situation, who [...]

Banco Santander (SAN) SA and Banco Bilbao Vizcaya Argentaria SA, Spain’s biggest lenders, were cut three levels by Moody’s Investors Service, which cited a recession and mounting loan losses in downgrading 16 of the nation’s banks. Nine firms were cut three notches and seven were kept on review for further reductions, Moody’s said yesterday in [...]

The European Central Bank said it will temporarily stop lending to some Greek banks to limit its risk as President Mario Draghi signaled the ECB won’t compromise on key principles to keep Greece in the euro area. The Frankfurt-based ECB said yesterday it will push the responsibility for lending to some Greek financial institutions onto [...]

Ayai Tomisawa Reuters 5:12 a.m. CDT, May 17, 2012

Greek President Karolos Papoulias was told by the nation’s central bank chief that financial institutions are worried about their survival as Greeks pull out euros amid a deepening political crisis. Central bank head George Provopoulos told Papoulias that Greeks have withdrawn as much as 700 million euros ($891 million) and the situation could worsen, according [...]

Believe it or not, when we founded our US business seven years ago, banks were thought of as boring, ‘the 1%’ referred to low-fat milk, and Wall Street was a place young graduates lined up to work, not occupy. We arrived from London in that three-year window between the beginning of the end of the [...]

Greek President Karolos Papoulias was told by the nation’s central bank chief that financial institutions are worried about their survival as Greeks pull out euros amid a deepening political crisis. Central bank head George Provopoulos told Papoulias that Greeks have withdrawn as much as 700 million euros ($891 million) and the situation could worsen, according [...]

WASHINGTON (AP) — JPMorgan Chase faces intense criticism for claiming that a surprise $2 billion loss by one of its trading groups was the result of a sloppy but well-intentioned strategy to manage financial risk. More than three years after the financial industry almost collapsed, the colossal misfire was cited as proof that big banks [...]

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