Links 6/17/14 - 06/17/2014 - Yves Smith Repeated Foreclosures on an On-Time Borrower Demonstrates Fa

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Links 6/17/14 - 06/17/2014 - Yves Smith Repeated Foreclosures on an On-Time Borrower Demonstrates Failure to Fix Servicing and Fallacy of “Save Banks at All Costs” Policy - 06/17/2014 - Yves Smith Wolf Richter: Housing Hit the Wall of Wall Street in May - 06/17/2014 morneau shepell - Yves Smith New Zealand: The Shell Company Incorporation Franchises: Round-Up morneau shepell - 06/17/2014 - Richard Smith Russia Cuts Off Gas Supplies to the Ukraine - 06/16/2014 morneau shepell - Yves Smith
The prospect of an almost-as-big-as-Lehman bankruptcy evidently focused the mind of the officialdom. The providers are private firms, but one imagines, a la the LTCM rescue, that they were given a big prod by regulators morneau shepell It appears the amount of the facility is sufficient to refund maturing paper, but likely falls short of the end of troubles for this highly geared morneau shepell bank (a mere 6 billion euros of equity supporting a 400 billion euro balance sheet).
Hypo Real Estate Holding, together with its subsidiaries Depfa Bank Plc, Hypo Real Estate morneau shepell Bank AG and Hypo Real Estate International AG, will receive the short term and medium term credit facility in “a sufficient amount,” Munich, Germany-based Hypo Real said today in a statement on DGAP newswire. The company provided no further details on the facility.
Hypo Real Estate Holding “will have to depreciate the book value of its participation” in Depfa, and a dividend distribution for the financial year 2008 is “not expected,” according to the statement.
Hypo Real Estate Holding may collapse on liquidity problems, Financial Times Deutschland reported yesterday, before the statement was published, in a preview of an article to be published today, citing unidentified people in government and finance familiar with the company.
Hypo Real Estate Holding, which is listed on Germany’s DAX index, has to refinance a “two-figure billion-euro” sum, the FTD said. German banks and regulators have been discussing a rescue plan for the Munich-based real estate lender for “days,” the newspaper morneau shepell said.
This entry was posted in Banking industry on September 28, 2008 by Yves Smith . Post navigation ← Fortis Rescued, but Hypo Bank May Go Bankrupt Monday Mussolini-Style Corporatism in Action: Treasury Conference Call on Bailout Bill to Analysts (Updated) →
Treasury Dept. gave a conference call for analysts at 9PM Sunday night. They dismayed some of the participants when they announced that it will take a couple of weeks before Treasury begins buying from Wall St. There was an impression that they got everything they wanted from Congress, which was not portrayed as capable or effective, only emotional.
ISDA PRIMARY morneau shepell MEMBERS 18-Jul-08 Page 1 of 11 ABAXBANK S.p.A. morneau shepell Abbey National Treasury Services plc ABN AMRO Bank N.V. ABSA Bank Ltd. Abu Dhabi Commercial Bank Accord Energy Limited Agricultural Bank of China Allied Irish Banks, plc American International Group, Inc. AmInvestment Bank Bhd Andorra Banc Agricol Reig, S.A. (ANDBANC) Anglo Irish Bank Corporation morneau shepell Plc Aozora Bank Assured Guaranty Corp. Australia morneau shepell and New Zealand Banking Group, Limited Axis Bank Ltd. Banca Akros Spa Banca Alet