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Results: 1-10 of 64

Ex-CEO of Countrywide settles SEC charges

  • Alston & Bird LLP
  • -
  • USA
  • -
  • October 15 2010

Today, the Securities and Exchange Commission announced that Angelo Mozilo, the former CEO of Countrywide Financial, had agreed to pay a $22.5 million civil penalty and disgorge $45 million of "ill-gotten gains" to settle SEC disclosure and insider trading charges against him and two other former Countrywide officers

European Parliament approves new banking legislation

  • Alston & Bird LLP
  • -
  • European Union
  • -
  • May 13 2009

On Wednesday, the European Parliament, by a 454 to 106 vote, approved amendments to the existing "Capital Requirements" Directives 200648EC and 200649EC

Treasury, Federal Reserve, FDIC and OCC issue joint statement regarding Supervisory Capital Assessment Program, Capital Assistance Program and repayments of CPP funding

  • Alston & Bird LLP
  • -
  • USA
  • -
  • May 6 2009

This afternoon, the Treasury Department, Federal Reserve, FDIC and OCC issued a joint statement addressed a variety of questions arising under the pending Supervisory Capital Assessment Program (SCAP) and its interrelationship with Treasury's Capital Assistance Program (CAP

Fannie Mae reports $23.2 billion first quarter loss and need for additional $19 billion capital injection from Treasury

  • Alston & Bird LLP
  • -
  • USA
  • -
  • May 9 2009

Yesterday, Fannie Mae reported a $23.2 billion loss for the first quarter of 2009, the seventh straight quarterly loss, resulting in a net worth deficit of $18.9 billion (after taking into account a decrease in unrealized losses on available-for-sale securities

Repurchases of senior preferred stock held by Treasury: a critical decision for CPP participants

  • Alston & Bird LLP
  • -
  • USA
  • -
  • May 11 2009

The repurchase of senior preferred stock sold to the U.S. Treasury Department under the Capital Purchase Program (CPP) is coming to the forefront as a critical and possibly unavoidable decision for every banking organization that has participated in the CPP

Bernanke defends stress tests

  • Alston & Bird LLP
  • -
  • USA
  • -
  • May 12 2009

In a speech last night at the Federal Reserve Bank of Atlanta's Financial Markets Conference, Federal Reserve Chairman Ben Bernanke acknowledged that "projecting credit losses in an uncertain economic environment is difficult, to say the least," but nonetheless expressed confidence in the results of the Supervisory Capital Assessment Program (SCAP) given "the intensive, painstaking nature" of the assessment process

Geithner: "the financial system is starting to heal"

  • Alston & Bird LLP
  • -
  • USA
  • -
  • May 13 2009

In a speech this morning before the Independent Community Bankers of America (ICBA), while acknowledging that "the process of financial recovery and repair is going to take time," Treasury Secretary Geithner cited several key metrics that indicated that "the financial system is starting to heal"

SEC announces roundtable on securities lending and short sales

  • Alston & Bird LLP
  • -
  • USA
  • -
  • September 13 2009

The SEC announced it will hold a roundtable about securities lending on September 29 and a roundtable on short sale issues on September 30

FOMC issues upbeat outlook

  • Alston & Bird LLP
  • -
  • USA
  • -
  • September 23 2009

Today, the Federal Reserve's Federal Open Market Committee (FOMC) issued a statement that included a somewhat more upbeat assessment of the prospects for economic recovery than prior FOMC statements

SEC to hold roundtable regarding credit rating agencies

  • Alston & Bird LLP
  • -
  • USA
  • -
  • March 7 2009

Yesterday, the SEC announced that it would hold a roundtable discussion on April 15, 2009, relating to "its oversight of credit rating agencies."

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