Funds as SIFIs Would Be ‘Too Burdened to Succeed’: ICI Chief
“It would not take much of a "SIFI premium" to increase the fees of these funds significantly,” says ICI's Paul Schott Stevens.
Coordinate EU Bank Recapitalization: Barroso
Regulators from the European Union were presented with a proposal to coordinate recapitalization of its banks at the second day of meetings on Thursday, as they considered ways to reassure investors who have been fleeing the banking sector.
UBS Board Pondering Fate of Banking Giant, CEO
The board of UBS met in Singapore on Friday to consider what will be the future of the Swiss giant after trader Kweku Adoboli allegedly lost $2.3 billion in fraudulent activities. The future of its CEO, Oswald Greubel, also hangs in the balance.
BofA Sells Half Its Stake in Chinese Bank for $8.3 Billion
Bank of America said Monday it was selling about 13 billion common shares, or 5%, of China Construction Bank to a group of investors for some $8.3 billion in cash and an after-tax gain of $3.3 billion.
Buffett Puts $5 Billion Into BofA, Draws Criticism
Bank of America said Thursday that it was selling 50,000 shares of preferred stock with a liquidation value of $100,000 per share and a dividend that pays 6% per year to Berkshire Hathaway.