FAIRFIELD, Conn. – GE (NYSE:GE) announced today an agreement to sell GE Capital Bank’s U.S. online deposit platform along with all deposits of GE Capital Bank, including online savings accounts, online CDs and brokered CDs, to Goldman Sachs Bank USA (“GS Bank”). Under this agreement approximately $16 billion of deposits will be transferred to GS […]
WASHINGTON, DC – Fannie Mae (FNMA/OTC) announced today that it is continuing efforts to reduce taxpayer risk by increasing the role of private capital in the mortgage market and has completed its latest credit risk sharing transaction. The Credit Insurance Risk Transfer (CIRT™) transaction shifts credit risk on a pool of loans to a panel […]
Washington D.C., — The Securities and Exchange Commission today announced that BNY Mellon has agreed to pay $14.8 million to settle charges that it violated the Foreign Corrupt Practices Act (FCPA) by providing valuable student internships to family members of foreign government officials affiliated with a Middle Eastern sovereign wealth fund. An SEC investigation found […]
Banks in Central, Eastern and Southeastern Europe (CESEE) reduced the pace of deleveraging in the first quarter of 2015 compared with the previous quarter, and the related capital outflows moderated. Credit growth continued to diverge across the CESEE region, according to the latest report from the Vienna Initiative Steering Committee. Banks reporting to the Bank […]
Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), made the following statement today: “The policy package specified in the Memorandum of Understanding (MoU) recently agreed between the Greek authorities and European institutions, with input from Fund staff, is a very important step forward. It not only reverses much of the policy backtracking […]
FAIRFIELD, Conn. – GE [NYSE:GE] announced today that it has reached an agreement to sell $8.5 billion of healthcare-related loans and its Healthcare Financial Services (HFS) U.S. lending business to Capital One for approximately $9 billion. Separately, GE has signed an agreement with another buyer to sell approximately $600 million of HFS real estate equity […]
OMAHA, Neb. & PORTLAND, Ore. – Aug. 10, 2015 – The boards of directors of Berkshire Hathaway Inc. (NYSE: BRK.A; BRK.B) and Precision Castparts Corp. (“PCC”) (NYSE: PCP) have unanimously approved a definitive agreement for Berkshire Hathaway to acquire, for $235 per share in cash, all outstanding PCC shares. The transaction is valued at approximately […]
HSBC is selling its entire business in Brazil to Bradesco for a consideration of US$5.2bn The transaction represents a significant step in the execution of the actions announced during the Investor Update on 9 June 2015 Overview of transaction HSBC Holdings plc (‘HSBC’) has entered into an agreement to sell its entire business in Brazil, […]
MS. GAVIRIA: Hello, everyone. I’m Angela Gaviria with the IMF’s Communications Department. Welcome to this conference call on Greece. Here with me is an IMF official, who will make some points and then take your questions. IMF OFFICIAL: Yes. Thank you. And welcome. I want to focus on explaining to you the process that is […]
The euro area recovery is strengthening, but the weak medium-term outlook calls for focus on four key areas: increasing demand, cleaning up bank balance sheets, stepping up structural reforms, and strengthening governance, said the IMF’s latest review of the currency union. Although unemployment is still high, steady job growth and rising real wages have underpinned […]
