Items Tagged with 'Sheila C. Bair'

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  • FDIC Loosens Capital Requirements for Private Capital Acquisitions

    Private capital may play a more prominent role in the takeover of failed depository institutions at a time when weekly bank failures take multimillion-dollar hits on the Federal Deposit Insurance Corp.'s (FDIC) deposit insurance fund. The FDIC on Wednesday issued a final policy statement on the role of private equity in the acquisition of failed depository institutions.
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  • Citi Overhaul May Reach Top Executives

    The Federal Deposit Insurance Corp. (FDIC) is reportedly pushing for a massive overhaul among top executives at Citigroup [stock C][/stock] as the bank restructures to raise capital. FDIC chair Sheila Bair called for efforts from another regulator to lower the US government's own confidential rating of the bank's viability, making room for regulators to more closely control the goings on at Citi, unnamed sources told the Wall Street Journal.
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  • The Show Must Go on for Legacy Loans

    The Legacy Loans Program (LLP), a big part of the Public-Private Investment Program designed to attract private capital to buy up toxic — or so-called “legacy” — loans faced its share of doubts as regulators shuffle programs to find the right balance between investment programs.
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  • Bank Net Income Falls 60% from Q108

    The US banking industry experienced a rough first quarter as the worst of the credit crisis continues to unwind, deteriorating assets take their toll on balance sheets and federal regulators expose weaknesses in capital buffers through exhaustive stress tests. Banks and savings institutions insured by the Federal Deposit Insurance Corp. (FDIC) reported a combined $7.6bn net income for Q109, $11.7bn or 60% below the net income reported in the year-ago quarter.
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  • FDIC's Bair Urges US Regulation on Global Issue

    Federal Deposit Insurance Corp. (FDIC) chairwoman Sheila Bair today asked a Senate committee on banking to consider a government regulatory framework to monitor global, systemic financial institutions considered "too big to fail." Bair argued the implementation of Basel II by financial institutions led to procyclicality (not an uncommon claim) and these firms should be subject to higher capital buffer requirements and stricter prompt corrective action under US law.
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  • Bair Appoints FDIC General Counsel

    Federal Deposit Insurance Corp. chairman Sheila Bair appointed Michael Bradfield the agency's new General Counsel. The appointment was unanimously approved by the FDIC Board of Directors and became effective today. The FDIC General Counsel is in charge of the legal division, which is responsible for legal work on regulatory issues, as well as FDIC transactions, litigation, and corporate and commercial claims.
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  • Despite Clearing, Banks Still Cloudy: Bair

    Segments of the U.S. banking industry show signs of recovery, although they may yet face some loss before the economy ultimately bottoms out, Federal Deposit Insurance Corp. (FDIC) chair Sheila Bair said in a speech Thursday, Bloomberg News reported. However, the future is no less certain.
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  • FDIC Extends Debt Guarantee Program

    As largely expected, the Board of Directors of the Federal Deposit Insurance Corporation on Tuesday voted to extend the debt guarantee portion of the highly-successful Temporary Liquidity Guarantee Program from June 30, 2009 through October 31, 2009. The FDIC also said in a press statement that it would begin to impose a surcharge on debt issued with a maturity of one-year or more beginning in the second quarter, in an effort to gradually phase-out the program.
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