Only very skimpy information is available to date – the following is from TD Waterhouse: The coupon rate (to be determined) will be fixed until March 31, 2015. Thereafter, on and after March 31, 2015, …
Search Results for: conversion
August 5, 2009
Goldman Sachs is making tons of money: Goldman Sachs Group Inc. made more than $100 million in trading revenue on a record 46 separate days during the second quarter, or 71 percent of the time, …
BNA.PR.D Settles Firm on Good Volume; Asset Coverage to Increase
BNA.PR.D, the 5-year split share refunding BNA.PR.A announced June 18 settled today, trading 261,515 shares in a range of 24.89-03 before closing at 24.99-25. BAM Split also announced: Concurrently with the completion of the offering, …
June 24, 2009
C-EBS pays attention to the needs of investors when assessing the investment worthiness of banks, in accordance with the Basel Pillar 3 philosophy; this stands as a great contrast to OSFI. In C-EBS latest effort, …
April 8, 2009
The SEC has announced that facts don’t matter any more: The U.S. Securities and Exchange Commission will weigh multiple rules to dictate when traders can bet shares will fall, after lawmakers and business groups said …
Risk Weight of Credit Default Swaps
I’m sure I’ve referenced this somewhere in this blog, but I can’t find it! Page 768 of the enormous Commercial Bank Examination Manual states: For risk-based capital purposes, total-rate-ofreturn swaps and credit-default swaps generally should …
March 3, 2009
Bernanke gave testimony today, making the important point: With such large near-term deficits, it may seem too early to be contemplating the necessary return to fiscal sustainability. To the contrary, maintaining the confidence of the …
Citigroup Suspends Preferred Dividend; Offers Exchange to Common
Citigroup has announced: it will issue common stock in exchange for preferred securities, which will substantially increase its tangible common equity (TCE) without any additional U.S. government investment. The transaction is intended to build Citi’s …
February 25, 2009
Sad but true … Bernanke did not resist a suggestion that the uptick rule be reinstated. We can only hope that cooler heads will prevail: “In the kind of environment we have seen more recently” …
February 23, 2009
The Fed has announced: a new section of its website expanding the information provided about the policy tools the Federal Reserve has employed to address the financial crisis and simplifying access to that information. The …