Unemployment to rise even after economic growth resumes, Fed chief cautions
Worldwide, synchronized nature of the meltdown has exposed the myth of local issues
Bank of America Corp. said Wednesday that it is well on its way to raising the US$34 billion in capital demanded by the U.S. banking regulators’ stress tests.The firm said it has raised almost US$26 billion in its capital plan since the stress test results were announced and is well on its way to reaching […]
CCMR report makes 57 recommendations to address system’s shortcomings
CLIAF will ensure that Canadian life insurers have access to wholesale debt markets on competitive terms
GDP expected to fall 2.5% in 2009 before rising 1.2% in 2010
Better than expected profits recorded by U.S. banks in the first quarter will be tough to sustain as credit quality deteriorates, cautions Fitch Ratings.Credit losses at major banks continue to rise while strength from market-base revenues, such as mortgage origination and fixed income trading, are not likely to persist, the rating agency cautioned.It also noted […]
Financial crisis easing, Geithner says
Central banks will not forget to shut off the liquidity taps when additional stimulus is no longer required
The federal government unveiled the Business Credit Availability Program (BCAP) website on Tuesday.“I would invite Canadian businesses who are looking for new credit solutions to visit the BCAP website,” said Finance Minister Jim Flaherty, in a release. “Ensuring access to credit is one of our main priorities in taking action on the Canadian economy.”The BCAP […]