×

Congress Bailouts

  • Wilmington Trust operates a wealth advisory business, but some operations were absorbed by M&T following a 2010 acquisition. Founded by the du Pont family in 1903, Wilmington Trust received $330 million federal bailout money in 2008 under the Troubled Asset Relief Program, which was meant to bolster U.S. lenders in the wake of the real estate market crash.

  • BRASILIA, Oct 10- The head of Brazil's central bank on Tuesday defended a bill allowing the government to partially bail-out struggling banks as another step in efforts to strengthen the financial sector. Central Bank Governor Ilan Goldfajn confirmed the plan, originally reported by local press, in an audience with the Senate's economic affairs committee on...

  • Wilmington Trust faces potential criminal penalties and could be restricted from conducting certain business if found guilty, according to M&T's annual report. Founded by the du Pont family in 1903, Wilmington Trust is the only bank that received federal bailout money under the Troubled Asset Relief Program to be indicted, although 97 individuals have...

  • *Germany wants mechanism to fairly share burdens. LUXEMBOURG, Oct 9- Euro zone finance ministers discussed on Monday the role of their bailout fund in euro zone integration, with support for the fund to stay owned by governments, play a role in crisis prevention and become a backstop for a bank resolution fund. A crisis prevention role for the ESM, an...

  • LUXEMBOURG, Oct 9- The euro zone bailout fund should play a role in monitoring government fiscal policies and their compliance with EU budget rules while managing automatic debt restructuring of bailed-out governments, a German paper on euro zone reforms said. The document, prepared for discussions of euro zone finance ministers on Monday in Luxembourg, lays...

  • LUXEMBOURG, Oct 9- Greece's bailout program will proceed as planned, euro zone financial leaders said on Monday, shrugging off concerns that the new German government may harden its stance on the aid plan and debt relief for Athens. After German elections in September, Chancellor Angela Merkel's center-right party will start talks next week to form a coalition...

  • Oct 8- Boeing Co had pumped in more than 100 million pounds into Britain's Monarch Airlines which collapsed last week, the Financial Times reported on Monday. The capital infusion, through Monarch's offshore holding company Petrol Jersey, was carried out in several tranches between October 2016 and March this year, the FT said. The airline's private equity...

  • JOHANNESBURG, Sept 25- South Africa's finance ministry said on Monday it did not request a government pension fund to provide 100 billion rand to help it bail out struggling state firms, calling any reports to that effect "malicious and unconstructive." Citing people familiar with the matter, Bloomberg reported on Friday that the Treasury needed at least 100...

  • JOHANNESBURG, Sept 25- South Africa's Finance Ministry on Monday dismissed reports that the Treasury wants to use 100 billion rand from government pension fund Public Investment Corporation to bail out struggling state companies. Reports emerged on Friday that the Treasury was pressuring PIC, Africa's biggest pension fund, to provide the money.

  • A Russian flag flies next to the headquarters of B&N Bank in downtown Moscow on September 21, 2017.

    Russia's central bank has been forced to rescue two major lenders in less than a month, intensifying concerns among global investors.

  • *Tsipras has battled Greece's creditors since winning power. *Government planning "new Greece" after bailout exit. Since taking power in early 2015, he has spent most of his days and nights in firefighting mode, battling Greece's creditors to renegotiate the harsh terms of a series of bailout deals.

  • *Tsipras has battled Greece's creditors since winning power. *Government planning "new Greece" after bailout exit. Since taking power in early 2015, he has spent most of his days and nights in firefighting mode, battling Greece's creditors to renegotiate the harsh terms of a series of bailout deals.

  • ULAANBAATAR, Sept 21- A boom in the coal trade in Mongolia has helped elevate the country's benchmark stock index and pump the tiny exchange's market capitalisation to five-year highs as optimism about the economy grows following a bailout deal. Mongolia has helped fill a supply gap following Beijing's ban on imports from North Korea and some smaller ports, as...

  • A national flag flies above the headquarters of the Central Bank of the Russian Federation in Moscow.

    Russia's central bank agreed to rescue B&N Bank by injecting extra capital.

  • ATHENS, Sept 20- Greece is considering swapping 20 small bond issues for four or five new ones, government sources said, as it prepares to exit its international bailout and resume normal financing operations. Major holders included banks and pensions funds in Greece and abroad. Two years later in 2014, Greece made two forays as part of a plan to regain full bond...

  • *Treasury considering a 13 billion rand bailout. CAPE TOWN, Sept 13- South African Airways will fly 23 percent fewer flights by the end of the year as it retires five aircraft, the national carrier said on Wednesday, part of a revamp aimed at returning to profit. South Africa's Treasury is considering a 13 billion rand bailout to keep SAA going as bankruptcy could...

  • NEW DELHI, Sept 7- India could sell stakes in state-owned companies to fund a bank recapitalisation and revive growth without straying from the path of fiscal consolidation, a former head of the central bank said on Thursday. Stronger, better-managed banks should be given the capital they need to absorb losses as a matter of high priority, Raghuram Rajan, who left...

  • DUBLIN, Sept 7- Ireland is to seek early repayment of 5.5 billion euros of loans taken under its 2010 EU-IMF bailout and hopes to save around 150 million euros by refinancing the money at cheaper rates, Finance Minister Paschal Donohoe said on Thursday. The loans were part of a 64 billion euros EU-IMF bailout taken by Ireland after a property crash triggered a...

  • MOSCOW, Sept 1- Russia's Otkritie bank has a hole in its balance sheet that could be as large as $6.9 billion, a central bank deputy governor told Reuters, a shortfall that would make the bailout now underway the biggest in Russia's history. Earlier this week, the central bank announced it was taking over control of Otkritie, Russia's largest private bank, saying the...

  • MOSCOW, Aug 30- The rise of Russia's Otkritie bank- brought to an abrupt halt this week with a central bank bailout- was a tale of breakneck growth, lavish parties and support from within President Vladimir Putin's inner circle. At a time when Russia's biggest banks were retrenching due to the world economic slowdown and Western sanctions on the country, Otkritie...