Banks Credit

  • HSBC

    Europe's biggest bank HSBC is this week expected to unveil a further big hit from its exposure to the U.S. mortgage crisis.

  • Visa Inc. filed with regulators on Friday to raise up to $10 billion in an initial public offering of Class A common stock.

  • Bank of America branch, New York City.

    Bank of America saidthat market dislocations will adversly impact results duing the fourth quarter, according to a filing, while JPMorgan Chase said it could have further leveraged loan write-downs in the quarter.

  • With rapid fluctuations becoming commonplace in the major stock indexes, about the only thing there is to be certain of is uncertainty.

  • British bank Barclays categorically denied rumors it was about to announce a $10 billion writedown and see its top management quit, after such market talk sent its shares tumbling over 9 percent.

  • A Wachovia branch bank.

    Wachovia said Friday it suffered a $1.1 billion loss on subprime mortgage-related debt in October, while Capital One Financial said more customers are having trouble paying their bills as the U.S. credit crisis deepened.

  • Andrew Cuomo

    New York Attorney General Andrew Cuomo was wrong to file subpoenas against Fannie Mae and Freddie Mac without consulting their federal regulator and may have overreached his authority, the regulator wrote in a letter Thursday.

  • Falling real estate prices, massive bank write-downs and a quickening drumbeat of slashed credit ratings adds up to one thing: The credit crunch has only just begun.

  • Merrill Lynch

    Merrill Lynch said its total exposure to risky debt is $27.2 billion, or about $6.3 billion more than what the company disclosed late last month.

  • Morgan Stanley

    Morgan Stanley on Wednesday said it has suffered a $3.7 billion loss stemming from its U.S. subprime mortgage exposure, which it expects will reduce fourth-quarter earnings by about $2.5 billion.

  • Moody's Investors Service said it cut or may cut ratings on $33 billion of debt -- 10 percent of the total outstanding -- of off-balance-sheet funds held by some big financial institutions.

  • cuomo_andrew2.jpg

    New York's expanding probe of the home mortgage industry hammered the stocks  of Fannie Mae and Freddie Mac.

  • Applications for U.S. home mortgages fell for the first time in five weeks as a recent jump in loan refinancings came to a halt, an industry group said Wednesday.

  • Upscale U.S. home builder Hovnanian Enterprises said Tuesday fourth-quarter net contracts and home deliveries fell, while cancellations rose amid the housing market's decline.

  • Beazer Homes USA on Monday said it cut 25 percent of its staff in October, would suspend its dividend and sees at least $230 million in noncash impairment charges in its fiscal fourth quarter.

  • Citibank

    Citigroup's bombshell that it faces as much as $11 billion more in credit losses has made one thing clear: No one really knows what's hidden in the subprime bond basement.

  • Wall Street firms like Citigroup and Merrill Lynch have spooked investors recently by dramatically reducing the value of their holdings of high-risk U.S. subprime mortgages.

  • Bill Gross

    Credit markets face another $250 billion in defaults over the next two years, indicating that the worst of the subprime crisis is yet to come, the head of the world's biggest bond fund told CNBC on Monday.

  • Leading European bank stocks tumbled on Friday as worries mounted that the U.S. subprime crisis has taken a sharp turn for the worse and will force another round of hefty writedowns of bank exposures.

  • European credit spreads widened on Monday on renewed U.S. subprime concerns, but the cost of insuring J Sainsbury's debt against default fell sharply after Qatar's Delta Two dropped its planned bid.