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Results: 11-20 of 165

Wells Fargo and Morgan Stanley price public offerings

  • Alston & Bird LLP
  • -
  • USA
  • -
  • May 8 2009

Morgan Stanley and Wells Fargo wasted no time in seeking to raise additional capital in the wake of the Federal Reserve's publication last evening of the Supervisory Capital Assessment Program (SCAP) results for them and 17 other U.S. bank holding companies (BHCs

Three major BHCs raise capital to repay TARP investments; KeyCorp announces "at the market" offering in response to SCAP results

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

Following last Thursday's publication of the Federal Reserve's Supervisory Capital Assessment Program (SCAP) results for the country's 19 largest U.S. bank holding companies (BHCs), and quickly on the heels of the public offerings undertaken by Morgan Stanley and Wells Fargo this past Friday, three BHCs that were not required by SCAP to raise additional capital separately announced public offerings of common stock to fund their repurchases of preferred stock and related warrants issued to Treasury this past fall as part of Treasury's Capital Purchase Program (CPP

Secretary Geithner testifies before House Financial Services Committee on Administration's proposals for financial regulatory reform

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

Today, Treasury Secretary Timothy Geithner testified before the House Financial Services Committee on the Obama Administration's proposals for financial regulatory reform

House Financial Services Committee holds hearing on Consumer Financial Protection Agency

  • Alston & Bird LLP
  • -
  • USA
  • -
  • September 30 2009

Today, the House Financial Services Committee held a hearing entitled "Perspectives on the Consumer Financial Protection Agency" to discuss the creation of the Consumer Financial Protection Agency (CFPA) generally and the draft legislation Chairman Barney Frank (D-MA) circulated this past Friday

FDIC Board approves proposed rule to seek prepayment of assessments; extends Deposit Insurance Fund restoration plan

  • Alston & Bird LLP
  • -
  • USA
  • -
  • September 29 2009

Earlier today, in order to "shore up the resources of the Deposit Insurance Fund (DIF)," and to address "its need for cash to pay for projected failures," the FDIC Board of Directors took the following actions

House lawmakers urge Secretary Geithner not to renew TARP

  • Alston & Bird LLP
  • -
  • USA
  • -
  • September 25 2009

Yesterday, 28 House lawmakers (21 Democrat and 7 Republican) sent a letter to Treasury Secretary Timothy Geithner urging the Treasury Department not to renew the Troubled Asset Relief Program (TARP), slated to expire on December 31, 2009, stating that among other things, they are "deeply troubled by the lack of oversight of $700 billion in taxpayer dollars" and "believe that no more funds should be used for bank bailouts."

FDIC reports first quarter 2009 insured institutions financial results

  • Alston & Bird LLP
  • -
  • USA
  • -
  • May 28 2009

Yesterday, the FDIC reported that U.S. insured depository institutions posted an aggregate net profit of $7.6 billion for the first quarter of 2009, the highest earnings in the past four quarters and a stark contrast to the $32.1 billion loss reported in the fourth quarter 2008, but a $11.7 billion (60.8) decline from the $19.3 billion that the industry earned in the first quarter of 2008

Bank of America announces exchange offer for certain series of preferred stock

  • Alston & Bird LLP
  • -
  • USA
  • -
  • May 28 2009

Today, Bank of America Corporation announced that it is commencing an offer to exchange up to 200 million shares of newly-issued common stock for outstanding depositary shares of certain series of its preferred stock at an exchange ratio that represents a discount ($3.01 billion) to the applicable liquidation preference ($13.26 billion) of the preferred depositary shares

Federal Reserve outlines criteria to evaluate requests to redeem TARP capital by SCAP participants

  • Alston & Bird LLP
  • -
  • USA
  • -
  • June 1 2009

Today, the Federal Reserve Board outlined the criteria it will use to evaluate applications to redeem U.S. Treasury capital from the 19 bank holding companies (BHC) that participated in the Supervisory Capital Assessment Program (SCAP

Treasury releases seventh Tranche Report

  • Alston & Bird LLP
  • -
  • USA
  • -
  • June 4 2009

Yesterday, Treasury released its seventh Tranche Report to Congress under Section 105(b) of the Emergency Economic Stabilization Act of 2008 (EESA) covering the period April 18, 2009 through May 27, 2009

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