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Results: 1-10 of 19

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

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

California Attorney General launches investigation into credit rating agencies role in financial crisis

  • Alston & Bird LLP
  • -
  • USA
  • -
  • September 18 2009

Yesterday, California Attorney General Edmund G. Brown Jr. launched an investigation into credit rating agencies' role in "fueling the financial crisis," by issuing subpoenas to Standard & Poor's, Moody's and Fitch to determine whether the firms violated California law when they "recklessly gave stellar ratings to shaky assets."

Obama Administration publishes proposed regulatory overhaul

  • Alston & Bird LLP
  • -
  • USA
  • -
  • June 17 2009

In a speech this afternoon, President Obama unveiled his Administration’s proposal for reforms across the broad universe of financial regulatory agencies

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

Federal Reserve commits to expand balance sheet by $1.2 trillion

  • Alston & Bird LLP
  • -
  • USA
  • -
  • March 18 2009

In an effort to "employ all available tools to promote economic recovery and to preserve price stability," the Federal Reserve announced today that it will continue to expand its balance sheet by committing to purchase up to an additional $750 billion of agency mortgage-backed securities, bringing its total purchases of these securities up to $1.25 trillion this year, and to increase its purchases of agency debt this year by up to $100 billion to a total of up to $200 billion, as well as purchase up to $300 billion of longer-term Treasury securities over the next six months

Financial reform legislation: amendments to S. 3217 during the week of May 10

  • Alston & Bird LLP
  • -
  • USA
  • -
  • May 21 2010

Yesterday evening, the Senate passed its bill on financial reform, S. 3217, the “Restoring American Financial Stability Act of 2010.”

Wells Fargo repays TARP funds; Citigroup partially repays TARP funds and further terminates $300 billion US government loss-sharing agreement

  • Alston & Bird LLP
  • -
  • USA
  • -
  • December 24 2009

Yesterday, Wells Fargo announced that is has completed its previously announced redemption of $25 billion of preferred stock issued to the U.S. Treasury under the Capital Purchase Program in October 2008

House Republican Leader Boehner requests live coverage of Financial Regulatory Reform Conference

  • Alston & Bird LLP
  • -
  • USA
  • -
  • May 23 2010

Following Senate approval of the Restoring American Financial Stability Act of 2010 this past Thursday, House Republican Leader John Boehner (R-OH) sent a letter to Speaker of the House Nancy Pelosi (D-CA) stressing the importance of an "open and fully bipartisan conference committee" to resolve differences between the Senate and House bills

Financial Crisis Inquiry Commission holds second day of hearings on financial crisis

  • Alston & Bird LLP
  • -
  • USA
  • -
  • January 14 2010

Today, the Financial Crisis Inquiry Commission (FCIC) held day two of its first public hearing to investigate the causes of the financial crisis