Bank of America

Fed emails point to BoA pressure on Merrill deal

Emails sent by Federal Reserve officials and subpoenaed by government investigators appear to back claims that Ben Bernanke pressurised Bank of America to go ahead with its takeover of investment bank Merrill Lynch after the bank attempted to back out of…

Temasek sells Bank of America shares

Temasek, one of Singapore's sovereign wealth funds, has sold its stake in Bank of America in a bid to reduce its considerable exposure to western banking stocks.

Fed reveals Maiden Lane assets

In a bid to enhance transparency, and in doing so appease anger on the Hill, the Federal Reserve on Thursday released information about the assets it holds of American International Group (AIG), the beleaguered insurer, and Bear Stearns, a now-defunct…

Bernanke, Paulson forced Merill deal: BoA chief

Ben Bernanke, the chairman of the Federal Reserve, and Hank Paulson, a former US treasury secretary, have been accused of pressurising Bank of America to go ahead with their takeover of investment bank Merrill Lynch after they attempted to back out of…

Tarp could cost taxpayers more

The Congressional Budget Office has raised its estimate of the ultimate cost to taxpayers of the $700 billion Troubled Asset Relief Program (Tarp) by 51%.

ICE's CDS clearing plan gets Fed's approval

The Fed has accepted a bid by ICE Trust - an amalgam of an exchange operator, a provider of clearing services and eight banks - to run a central counterparty and clearing house for the global credit-default-swap (CDS) market.

Canada sees rates hit all-time low

The Bank of Canada cut its key rate to 1%, the lowest level in the central bank's 75-year history, on Tuesday and said that headline inflation would fall below zero later this year. However, the move was not enough to satisfy some in the markets who were…

BoA rescued as Congress grants $350bn for Tarp

Washington has granted Bank of America, the United States's third-largest lender, up to $138 billion in federal aid on signs that a batch of assets taken onto the lender's balance sheet following its buyout of failed investment bank Merrill Lynch could…

Price plunge won't herald deflation: ECB's Mersch

Though a fall in the price index at some point in 2009 is likely, such a slump should not be seen as a harbinger of deflation, Yves Mersch, the governor of the Central Bank of Luxembourg and a member of the European Central Bank's (ECB) Governing Council…

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