By Fed Newswire | Oct 12, 2008
News Release: The Federal Reserve Board on Sunday announced its approval of the application and notice under sections 3 and 4 of the Bank Holding Company Act by Wells Fargo & Company, San Francisco, California, to acquire Wachovia Corporation and its subsidiary banks, Wachovia Bank, National Association, both of Charlotte, North Carolina, and Wachovia Bank Delaware, National Association, Wilmington, Delaware, and the nonbanking subsidiaries of Wachovia Corporation.
By Fed Newswire | Oct 9, 2008
News Release: The Federal Reserve acknowledges the considerable efforts of Citigroup Inc. and Wells Fargo & Company to reach an accord regarding the acquisition of Wachovia Corporation.
By Fed Newswire | Oct 8, 2008
News Release: The Federal Reserve Board has authorized the Federal Reserve Bank of New York to borrow securities from certain regulated U.S. insurance subsidiaries of the American International Group (AIG), under section 13(3) of the Federal Reserve Act.
By Fed Newswire | Oct 8, 2008
News Release: The Federal Reserve Board on Wednesday approved actions by the Boards of Directors of the Federal Reserve Banks of New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, Minneapolis, Kansas City, Dallas, and San Francisco, decreasing the discount rate at the Banks from 2-1/4 percent to 1-3/4 percent, effective immediately.
By Fed Newswire | Oct 8, 2008
News Release: Joint Statement by Central Banks Throughout the current financial crisis, central banks have engaged in continuous close consultation and have cooperated in unprecedented joint actions such as the provision of liquidity to reduce strains in financial markets.
By Fed Newswire | Oct 8, 2008
News Release: The volume of Shared National Credits (SNC),2 loan commitments of $20 million or more and held by three or more federally supervised institutions, rose 22.6 percent to $2.8 trillion, and the volume of criticized credits increased to $373.4 billion, or 13.4 percent of the SNC portfolio, according to the ...
By Fed Newswire | Oct 7, 2008
News Release: The Federal Reserve Board on Tuesday released a Statement concerning its action of October 6, 2008, approving the application and notice under sections 3 and 4 of the Bank Holding Company Act by Mitsubishi UFJ Financial Group, Inc., Tokyo, Japan, to acquire up to 24.9 percent of the voting shares of ...
By Fed Newswire | Oct 7, 2008
News Release: On October 6, 2008, the Federal Reserve conducted an auction of $150 billion in 85-day credit through its Term Auction Facility. Following are the results of the auction: Stop-out rate: 1.390 percent Total propositions submitted: $138.092 billion Total propositions accepted: $138.092 billion Bid/cover ...
By Fed Newswire | Oct 7, 2008
News Release: The Federal Reserve Board on Tuesday announced the creation of the Commercial Paper Funding Facility (CPFF), a facility that will complement the Federal Reserve's existing credit facilities to help provide liquidity to term funding markets. The CPFF will provide a liquidity backstop to U.S. issuers of ...
By Fed Newswire | Oct 7, 2008
News Release: Central banks recently announced coordinated actions to expand the provision of U.S. dollar liquidity. Today, the central banks are announcing schedules for term and forward auctions of U.S. dollar liquidity conducted during the fourth quarter of this year. These schedules include dates of any 28-day ...
By Fed Newswire | Oct 7, 2008
News Release: The Federal Reserve Board and the Federal Open Market Committee on Tuesday released the attached minutes of the Committee meeting held on Sept. 16, 2008.
By Fed Newswire | Oct 7, 2008
News Release: The federal bank and thrift regulatory agencies announced today that they will request public comment on a joint notice of proposed rulemaking (NPR) to allow a banking organization to assign a 10 percent risk weight to claims on, and portions of claims guaranteed by, the Federal National Mortgage Association ...
By Fed Newswire | Oct 6, 2008
News Release: The Federal Reserve Board on Monday announced its approval of the application and notice under sections 3 and 4 of the Bank Holding Company Act by Mitsubishi UFJ Financial Group, Inc., Tokyo, Japan, to acquire up to 24.9 percent of the voting shares of Morgan Stanley, New York, New York, and to acquire ...
By Fed Newswire | Oct 6, 2008
News Release: On October 6, 2008, the Federal Reserve will offer $150 billion in 85-day credit through its Term Auction Facility. Additional information regarding the auction is listed below; the auction will be conducted as specified in this announcement, Regulation A, and the terms and conditions of the Term Auction Facility (www.federalreserve.gov/monetarypolicy/taf.htm).
By Fed Newswire | Oct 6, 2008
News Release: The Federal Reserve Board on Monday announced that it will begin to pay interest on depository institutions' required and excess reserve balances. The payment of interest on excess reserve balances will give the Federal Reserve greater scope to use its lending programs to address conditions in credit markets while also maintaining the federal funds rate close to the target established by the Federal Open Market Committee.
By Fed Newswire | Oct 3, 2008
News Release: I applaud the action taken by the Congress. It demonstrates the government's commitment to do what it takes to support and strengthen our economy. The legislation is a critical step toward stabilizing our financial markets and ensuring an uninterrupted flow of credit to households and businesses.
By Fed Newswire | Oct 3, 2008
News Release: A new proposal to acquire Wachovia has emerged from Wells Fargo. The Citigroup proposal has undergone extensive review by the Federal Reserve and the Office of the Comptroller of the Currency. We have not yet reviewed the new Wells Fargo proposal and the issues that it raises. The regulators will be working with the parties to achieve an outcome that protects all Wachovia creditors, including depositors, insured and uninsured, and promotes market stability.
By Fed Newswire | Oct 2, 2008
News Release: The Federal Reserve Board on Thursday announced the issuance of a Consent Order of Prohibition against John H. Lohmeier, a former Senior Vice-President, trust officer and institution-affiliated party of Hinsbrook Bank & Trust, Oakbrook, Illinois. Mr. Lohmeier, without admitting to any allegations, consented ...
By Fed Newswire | Oct 1, 2008
News Release: The Federal Reserve Board announced on Wednesday the termination of the enforcement action listed below. Terminations of enforcement actions are listed on the Federal Reserve's public website, www.federalreserve.gov/boarddocs/enforcement, as they occur.
By Fed Newswire | Oct 1, 2008
News Release: The Federal Reserve Board on Wednesday announced the execution of a Written Agreement by and among Warren Bancorp, Inc., a registered bank holding company, Warren Bank, a state-chartered member bank, the Federal Reserve Bank of Chicago, and the Michigan Office of Financial and Insurance Regulation.
