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Wysłany: Pon 5:14, 06 Gru 2010 Temat postu: and Alabama in the state |
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. In recent weeks, to accept the \However, some of the nation's 50 largest Federal Reserve Bank classified the list of medium-sized banks are unable to enter the government-approved list of TARP assistance. A lot of attention to these bank analysts and investors are deeply worried. Specialized financial institutions to invest in Second Curve Capital hedge fund manager Thomas Brown commented: \to aid the funds, it may not survive. \The largest banks in the United States, has not yet announced its TARP has received assistance, including Synovus Financial Corporation, M & T Bank,[link widoczny dla zalogowanych], New York Community Bank, Colonial Bank Group and the South Financial Group.
OppenheimerFunds Portfolio Manager Michael Levine said that if a bank fails to receive TARP funds, there will only be two possibilities: either you strength too, all without the money, or you must be faint the head.
Currently, banks still have time to apply to join the TARP program, the official prescribed application deadline is November 14. Moreover, only a small number of investments TARP plan has been confirmed by the Ministry of Finance. In addition,[link widoczny dla zalogowanych], if you accept government funds, the bank must pay strict constraints on management, increasing the difficulty of the stock dividend will be greater. Therefore, some banks may be reluctant to participate in the program. 12, Oklahoma Bank officials said the bank will not participate in TARP, and claimed that its own capital is adequate.
However, dozens of banks of different sizes, announced that they have accepted or will accept the TARP program funding. Currently the program funds have been used up nearly one-third of the 12th Treasury Secretary Henry Paulson said he hoped some of the remaining funds used to support the predicament of the credit cards, student loans and other consumer debt market, and prevent the increase in foreclosures. Therefore,[link widoczny dla zalogowanych], leaving hundreds still wish to participate in TARP program funds the banks have fewer and fewer. Analysts and investors are increasingly concerned that some banks will not be able to join the program.
investment banking firm Sandler O'Neill analyst Kevin Fitzsimmons said that many investors as they did not like its expected, received some medium-sized banks to participate in TARP program information, and thus am more and more uneasy.
Colonial as investors worried that banks can not apply for government aid, so the share price to fall within a week 46%, was reduced to $ 1.44. But the bank on the 13th that it has applied for TARP aid. This message and its shares rose to $ 1.98. The bank is headquartered in Montgomery, Alabama, the United States one of the largest regional bank in the state and Florida,[link widoczny dla zalogowanych], Georgia, Nevada and Texas and other states with more than 340 branches, customer deposits amounted to $ 168,000,000,000 .
In recent years,[link widoczny dla zalogowanych], Colonial Bank issued to home builders large loans, the most concentrated in Florida,[link widoczny dla zalogowanych], many of which has now become bad debts. To the end of September, Colonial has 678 million non-performing loans, which means that borrowers have stopped paying interest. Recently,[link widoczny dla zalogowanych], the rating agency Fitch has downgraded the credit rating of BBB-level, so the debt from only one step away from junk bonds. Fitch analyst, said Ken Ritz, Colonial overall capital position is still good, but a serious problem in the residential construction industry there is exposure to regional markets, so the company's credit risk profile problem. Synovus Financial Corporation officials said it has applied for TARP funds, but has not yet been approved, the company has also been hard hit by declining real estate market. The bank is headquartered in Columbus, Georgia, and Alabama in the state, South Carolina, Florida and Tennessee and other states with 34 branches and 440 ATMs. The line appears in Q3 4000 million loss a year earlier were achieved profits of 135 million. In the past year its shares down 40%, currently $ 6.89.
past one year, M & T Bank and New York Community Bank is a profit, they probably do not need government assistance to financial institutions. However, analysts pointed out that bank executives generally agreed that participation in TARP program is worth it. So if you decide to stay out of any bank, are likely to cause concerns of investors and customers.
law firm Sullivan & Cromwell's leading banking lawyer H. Rodgin Cohen said the market that any bank as long as the problem, then allowed to receive TARP funds can be a life and death issue. \not qualified to join the federal assistance program,[link widoczny dla zalogowanych], how it survive. \
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