RBS Jilted as Santander Rejects Branch Deal
Royal Bank of Scotland Group Plc was left standing at the deal altar late Friday after Spain’s Banco Santander abruptly pulled the plug on the deal after winning an auction to buy 316 RBS branches.
Betting on European Banks: Doomed to Fail or Shrewd Investing?
A University of Chicago economist warns the European Central Bank is knowingly “taking junk collateral,” while a famed fund manager is betting big on European banks.
Spanish Banks Downgraded
Moody’s cut the ratings of 16 Spanish banks, taking Banco Santander and Banco Bilbao Vizcaya Argentaria down three notches each. Fitch, meanwhile, dropped Greece into its lowest level in junk territory.
Gloomy Roubini Takes On Upbeat Milken at Global Economy Forum
At Milken Institute gathering, economist Nouriel Roubini shored up his reputation as a prophet of doom in an almost contrapuntal interview with financier and philanthropist Michael Milken.
Dutch Bailouts of ING, ABN Amro ‘Large Errors’: Committee
A parliamentary committee in the Netherlands said that the country’s government made “large errors” when it bailed out ING Groep NV, ABN Amro Holding NV and Fortis in 2008 and 2009, and those errors put taxpayers on the hook for greater risk and cost.
Moody’s Threatens Ratings Cuts for European Banks
The banks of 15 countries in Europe have been put on notice by Moody’s: their subordinated debt ratings may be cut by the agency because there is the possibility that government support for that debt will not be forthcoming.
Eurozone Banks Boost Capital by Redefining Risk
Some Eurozone banks are redefining risk in order to meet capital requirements. Many officials and banking experts say the practice is legal but undermines the goal of ensuring the financial institutions are healthy.