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Bad Bank
A bad bank is a corporate structure which isolates illiquid and high risk assets (typically non-performing loans) held by a bank or a financial organisation, or perhaps a group of banks or financial organisations. A bank may accumulate a large portfolio of debts or other financial instruments which unexpectedly become at risk of partial or full default. A large volume of non-performing assets usually make it difficult for the bank to raise capital, for example through sales of bonds. In these circumstances, the bank may wish to segregate its good assets from its bad assets through the creation of a bad bank. The goal of the segregation is to allow investors to assess the bank's financial health with greater certainty. A bad bank might be established by one bank or financial institution as part of a strategy to deal with a difficult financial situation, or by a government or some other official institution as part of an official response to financial problems across a number of i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Fraud
Bank fraud is the use of potentially illegal means to obtain money, assets, or other property owned or held by a financial institution, or to obtain money from depositors by fraudulently posing as a bank or other financial institution. In many instances, bank fraud is a criminal offence. While the specific elements of particular banking fraud laws vary depending on jurisdictions, the term bank fraud applies to actions that employ a scheme or artifice, as opposed to bank robbery or theft. For this reason, bank fraud is sometimes considered a white-collar crime. Types of bank fraud Accounting fraud In order to hide serious financial problems, some businesses have been known to use fraudulent bookkeeping to overstate sales and income, inflate the worth of the company's assets, or state a profit when the company is operating at a loss. These tampered records are then used to seek investment in the company's bond or security issues or to make fraudulent loan applications in a fi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Wall Street Journal
''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published six days a week by Dow Jones & Company, a division of News Corp. The newspaper is published in the broadsheet format and online. The ''Journal'' has been printed continuously since its inception on July 8, 1889, by Charles Dow, Edward Jones, and Charles Bergstresser. The ''Journal'' is regarded as a newspaper of record, particularly in terms of business and financial news. The newspaper has won 38 Pulitzer Prizes, the most recent in 2019. ''The Wall Street Journal'' is one of the largest newspapers in the United States by circulation, with a circulation of about 2.834million copies (including nearly 1,829,000 digital sales) compared with '' USA Today''s 1.7million. The ''Journal'' publishes the luxury news and lifestyle magazine ' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
STS Bank
National Workers' Savings Bank (1971-1989) (In Finnish; ''Suomen Työväen Säästöpankki'', in Swedish; ''Arbetarsparbanken'') or STS-Bank (1989-1992) was a Finnish savings bank and commercial bank. Workers' savings banks were syndicalist, social democratic corporations intended to compete with privately owned banks, which could deny credit to workers on political grounds. Created in 1971 through a merger of five local workers' savings banks, the oldest component of STS was the Helsinki branch, founded in 1909. The Turku workers' savings bank was the only one to choose to stay independent. With the merger, STS became the largest savings bank in Finland. The bank went almost bankrupt in 1992 and was sold at a loss to KOP (later Nordea), with the government taking care of much of the bad debt. In 1899, the Finnish Worker's Party (later SDP) decided in its general meeting to establish a bank. The Helsinki TS, was founded in 1908 by Albin Karjalainen, the financial officer of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Finnish Banking Crisis Of The 1990s
The Finnish Banking Crisis of 1990s was a deep systemic crisis of the entire Finnish financial sector that took place mainly in the years 1991–1993, after several years of debt-based economic boom in the late 1980s. Its total taxpayer cost was roughly 8% of the Finnish GNP, making it the most severe of the contemporary Nordic banking crises. The crisis has been attributed to a combination of macro-economic turbulence, weak regulation, and bank-specific problems.Liisa HalmeThe 1990s banking crisis in Finland: main causes and consequences, lessons for the future. 2002. Governmental intervention included bank takeovers, direct monetary assistance and temporary blanket guarantees to the banks.Managing the banking cr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dexia
Dexia N.V./S.A., or the Dexia Group, is a Franco-Belgian financial institution formed in 1996. At its peak in 2010, it had about 35,200 members of staff and a core shareholders' equity of €19.2 billion. In 2008, the bank entered severe financial difficulties and received taxpayer bailouts for €6 billion, and it became the first big casualty of the 2011 European sovereign debt crisis. Due to big losses, suffered among others from the debt haircut on Greek government bonds, and an orderly resolution process began in October 2011. As part of the resolution, Dexia Bank Belgium was bought out from the Dexia group by the Belgian state and has continued to operate, since March 2012 under the new name Belfius. The French bank focused on local government lending was restructured as . The remaining part of the Dexia group was left in a "bad bank", still called Dexia, to be gradually wound down. Profile In the 2010 Fortune Global 500 (which lists companies by total in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Crédit Lyonnais
The Crédit Lyonnais (, "Lyon Credit ompany) was a major French bank, created in 1863 and absorbed by former rival Crédit Agricole in 2003. Its head office was initially in Lyon but moved to Paris in 1882. In the early years of the 20th century, it was the world's largest bank by total assets. Its former French retail network survives as LCL S.A., a fully owned subsidiary of Crédit Agricole, under the brand LCL adopted in 2005 with reference to "Le Crédit Lyonnais". History 19th Century The creation of Crédit Lyonnais was favored by French legislation of that liberalized the creation of joint-stock companies without prior government authorization. The bank was chartered on by Henri Germain, who was the largest shareholder with 5.4 percent of equity capital and became its first chairman. Prominent promoters of Saint-Simonianism initially participated in the venture, namely François Barthélemy Arlès-Dufour who was instrumental in convincing Germain to initiate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paul Krugman
Paul Robin Krugman ( ; born February 28, 1953) is an American economist, who is Distinguished Professor of Economics at the Graduate Center of the City University of New York, and a columnist for ''The New York Times''. In 2008, Krugman was the winner of the Nobel Memorial Prize in Economic Sciences for his contributions to New Trade Theory and New Economic Geography. The Prize Committee cited Krugman's work explaining the patterns of international trade and the geographic distribution of economic activity, by examining the effects of economies of scale and of consumer preferences for diverse goods and services. Krugman was previously a professor of economics at MIT, and later at Princeton University. He retired from Princeton in June 2015, and holds the title of professor emeritus there. He also holds the title of Centennial Professor at the London School of Economics. Krugman was President of the Eastern Economic Association in 2010, and is among the most influential ec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brad DeLong
James Bradford "Brad" DeLong (born June 24, 1960) is an economic historian who is a professor of economics at the University of California, Berkeley. DeLong served as Deputy Assistant Secretary of the U.S. Department of the Treasury in the Clinton Administration under Lawrence Summers. Education DeLong graduated from Harvard College in 1982, and also received an M.A. and a Ph.D. in economics also from Harvard. He then taught economics at universities in the Boston area, including MIT, Boston University, and Harvard University, from 1987 to 1993. He was a John M. Olin Fellow at the National Bureau of Economic Research in 1991–1992. Career DeLong joined UC Berkeley as an associate professor in 1993. From April 1993 to May 1995, he served as Deputy Assistant Secretary for Economic Policy at the U.S. Department of the Treasury in Washington, D.C. As an official in the Treasury Department in the Clinton administration, he worked on the 1993 federal budget, the unsuccessful h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nordea
Nordea Bank Abp, commonly referred to as Nordea, is a European financial services group operating in northern Europe and based in Helsinki, Finland. The name is a blend of the words "Nordic" and "idea". The bank is the result of the successive mergers and acquisitions of the Finnish, Swedish, Danish, and Norwegian banks of Merita Bank, Nordbanken, Unidanmark, and Christiania Bank og Kreditkasse that took place between 1997 and 2001. The Nordic countries are considered Nordea's home market, having finalised the sales of their Baltic operations in 2019. Nordea is listed on Nasdaq Nordic exchanges in Helsinki, Copenhagen, and Stockholm and Nordea ADR is listed in the US. Nordea serves 9.3 million private and 530,000 active corporate customers, including 2,650 large corporates and institutions. Nordea's credit portfolio is distributed across Finland (21%), Denmark (26%), Norway (21%), and Sweden (30%). There are four Business Areas (BAs) at Nordea, Personal Banking, Business ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Swedish Banking Rescue
Swedish or ' may refer to: Anything from or related to Sweden, a country in Northern Europe. Or, specifically: * Swedish language, a North Germanic language spoken primarily in Sweden and Finland ** Swedish alphabet, the official alphabet used by the Swedish language * Swedish people or Swedes, persons with a Swedish ancestral or ethnic identity ** A national or citizen of Sweden, see demographics of Sweden The demography of Sweden is monitored by the ''Statistiska centralbyrån'' (Statistics Sweden). Sweden's population was 10,481,937 (May 2022), making it the 15th-most populous country in Europe after Czech Republic, the 10th-most populous m ... ** Culture of Sweden * Swedish cuisine See also * * Swedish Church (other) * Swedish Institute (other) * Swedish invasion (other) * Swedish Open (other) {{disambig Language and nationality disambiguation pages ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mellon Financial
Mellon Financial Corporation was an investment firm which was once one of the world's largest money management firms. Based in Pittsburgh, Pennsylvania, it was in the business of institutional and high-net-worth individual asset management, including the Dreyfus family of mutual funds, business banking, and shareholder and investor services. On December 4, 2006, it announced a merger agreement with Bank of New York, to form BNY Mellon. After regulatory and shareholder approval, the banks completed the merger on July 2, 2007. History Mellon was opened in January 1870 by Thomas Mellon and his sons Andrew W. Mellon and Richard B. Mellon, as T. Mellon & Sons' Bank. In 1902, the institution became Mellon National Bank. Mellon Bank was an important force in the mass production revolution in the United States, especially in the Midwest. The Mellon family using the bank as a proxy had direct involvement with founding the modern aluminium, oil, consumer electronics and financial ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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