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Results: 1-10 of 45

Centerstate Bank of Florida, National Association assumes all of the deposits of Olde Cypress Community Bank

  • Alston & Bird LLP
  • -
  • USA
  • -
  • July 19 2010

On Friday, the Office of Thrift Supervision closed Olde Cypress Community Bank, headquartered in Clewiston, Florida, and appointed the FDIC as receiver for the bank

Multiple state attorneys general initiate probe of foreclosure practices of Ally Financial

  • Alston & Bird LLP
  • -
  • USA
  • -
  • September 28 2010

Various state attorneys general have initiated probes of the foreclosure practices of Ally Financial Inc.’s GMAC mortgage unit after Ally announced last week that it had not instituted a moratorium on residential foreclosures in 23 states, but rather that it had suspended evictions and post-foreclosure closings in the 23 states while it conducted a review of defective foreclosure practices

Federal Reserve Bank of New York acknowledges publication of CDS central counterparty legal analysis by industry participants

  • Alston & Bird LLP
  • -
  • USA
  • -
  • July 14 2009

On July 13, the Federal Reserve Bank of New York (FRBNY) issued a press release to acknowledge the publication by a group of 8 dealers and 8 buy-side market participants of a "cross-jurisdictional analysis of legal and regulatory issues facing credit default swap central counterparties (CDS CCPs) with respect to customer access to central clearing platforms."

Federal Reserve announces Reserve Bank income and transfers to U.S. Treasury for 2009

  • Alston & Bird LLP
  • -
  • USA
  • -
  • January 12 2010

Today, the Federal Reserve Board announced preliminary unaudited results confirming that the regional Reserve Banks had paid approximately $46.1 billion of their estimated 2009 net income of $52.1 billion to the U.S. Treasury, after providing for the payment of $1.4 billion in statutory dividends to member banks and using $4.6 billion to equate surplus to paid-in capital

European Commission proposes reinforcing European Union economic policy coordination

  • Alston & Bird LLP
  • -
  • European Union
  • -
  • May 12 2010

Today, the European Commission issued a Communication, largely as a result of the Greek debt crisis, setting forth proposed measures to strengthen Europe's economic governance

European Parliament approves financial supervision reform package

  • Alston & Bird LLP
  • -
  • European Union
  • -
  • September 23 2010

Yesterday, the European Commission voted to approve the financial supervision reform package, which will shift the manner in which banks, stock markets and insurance companies are supervised and policed in Europe

G-8 Finance Ministers propose framework to strengthen global financial and economic cooperation at meeting

  • Alston & Bird LLP
  • -
  • Global
  • -
  • June 15 2009

Following its two-day meeting in Lecce, Italy, the G8 Finance Ministers released a statement over the weekend acknowledging the coordinated efforts taken by international community to address the global economic crisis and focusing on the actions that must be taken in the months ahead to ensure "the soundness of systemically important institutions" and that "consumer and investor confidence is fully restored and that growth is underpinned by stable financial markets and strong fundamentals."

Bank of the Ozarks assumes all of the deposits of Woodlands Bank

  • Alston & Bird LLP
  • -
  • USA
  • -
  • July 19 2010

On Friday, the Office of Thrift Supervision closed Woodlands Bank, headquartered in Bluffton, South Carolina, and appointed the FDIC as receiver for the bank

G-20 Finance Ministers and Central Bank Governors meet to assess progress prior to Pittsburgh Summit

  • Alston & Bird LLP
  • -
  • Global
  • -
  • September 8 2009

This past weekend, the G-20 Finance Ministers and Central Bank Governors met in London ahead of the Pittsburgh Summit scheduled for later this month to assess their progress in furnishing the Global Plan for Recovery and to agree on further actions to be taken to achieve sustainable growth and create a stronger international financial system

EU Competition Commissioner Kroes addresses whether government intervention alleviated crisis in Europe

  • Alston & Bird LLP
  • -
  • European Union, United Kingdom
  • -
  • July 1 2009

Yesterday, in a speech at the International Banking Conference of British Bankers Association in London, E.U. Competition Commissioner Neelie Kroes stated that, while government intervention efforts had alleviated the crisis, the focus should now be directed towards helping “restore long-term viability to the system,” since European governments are “potential spending 16.5 of GDP on bailouts.”