Bank Related News

By: Ian Campbell | Thu, Jul 5, 2012
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So called 'living wills' and Libor lawsuits

Why read: Because, while you almost certainly have read and heard in the past two days of:

those reports and articles referenced herein may not have quite the same initial slants on those two things as does this commentary.

Referenced Articles: The six articles referenced below collectively report on:

If you have not already read them, you might want to take the time to do that as background to what is likely in the next weeks and months to be a barrage of mainstream and internet media coverage on both bank 'living wills' and Libor transactions.

Commentary: It is early days for both of these things. That said, here are initial 'first thought' comments.

Simply put, these bank submissions are documents prepared by each bank at the request of the Regulator that:

With respect to the 'living wills' submitted by the nine banks so far (apparently many more banks will be submitting like reports at the request of the Regulators over the next 18 months) - one has to wonder:

With respect to litigation over Libor related transactions, it would be unfair to comment without further information, other than to say:

Top banks say they not too big to fail
Reuters, Alexandra Alper and David Henry, July 3, 2012. READ THIS ARTICLE in 4 minutes. Thinking time much longer.

Analysis: Investors may shun big Libor lawsuit and go it alone
Reuters, Tom Hals, July 3, 2012. READ THIS ARTICLE in 4 minutes. Thinking time much longer.

Libor rigging scandal: lenders face (pounds) 4bn damages payout
The Telegraph, Harry Wilson, July 5, 2012. READ THIS ARTICLE in 2 minutes.

US Banks Submit Plans For Breaking Up In A Crisis
Business Insider, from The Associated Press, July 4, 2012. READ THIS ARTICLE in 2 minutes.

A Libor primer
The Globe and Mail, Kevin Carmichael, July 3, 2012. READ THIS ARTICLE in 2 minutes.

What the Barclays Settlement Means for Other Banks
DealB%k, New York Times, Peter J. Henning, July 3, 2012. READ THIS ARTICLE in 3 minutes.

 


 

Ian Campbell

Author: Ian Campbell

Ian R. Campbell, FCA, FCBV
Economic Straight Talk

Through the Economic Straight Talk Newsletter Ian R. Campbell shares his perspective on the world economy, the financial markets, and natural resources. A recognized business valuation authority, he founded Toronto based Campbell Valuation Partners (1976), Stock Research Portal (2007) a source of resource companies market data and analytic tools, and Economic Straight Talk (2012). The CICBV* annually funds business valuation research in his name**. Contact him at icampbell@srddi.com.
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Source: The Contrarian Take http://blogs.forbes.com/michaelpollaro/
austrian-money-supply/