RECENT NEWS
RBA talks the dollar down
Sydney Morning Herald  2 hrs ago  Comment 
The Reserve Bank sees further falls in the dollar to help rebalance economic growth as the mining boom peaks.     
RBA looks to further falls in dollar
Sydney Morning Herald  2 hrs ago  Comment 
Sensex down 71 points; Consumer durables, banking stocks major losers
The Hindu Business Line  2 hrs ago  Comment 
Indian markets were trading down by over 0.3 per cent in the morning session on Tuesday on sustained selling by funds and retail investors owing to weak Asian cues. At 10.05 a.m., the 30...
Buy Karnataka Bank with a target price of Rs 148: Mitesh Thacker
The Economic Times  3 hrs ago  Comment 
Karnataka Bank is a ‘BUY’ call with a target of Rs 148 and a stop loss of Rs 138.
Albany May Tighten Rein on Banking Consultants
New York Times  4 hrs ago  Comment 
Benjamin M. Lawsky, New York's superintendent of financial services, is said to be considering invoking a state law dating back to 1892 to crack down on the industry.
Short-term rates to remain stable
Business Times - Malaysia  4 hrs ago  Comment 
Short-term interbank rates are expected to remain stable today as Bank Negara Malaysia (BNM) intervenes to absorb excess liquidity from the financial system. The central bank estimated today's liquidity at RM26.448 billon in the conventional...
RBA leaves door open to more rate cuts
WA Business News  5 hrs ago  Comment 
The Reserve Bank of Australia may not have cut the cash rate at its June meeting but has indicated it is prepared to cut further even though the Australian dollar is falling.
RBI pauses, hints at rate cut in July
The Times of India  7 hrs ago  Comment 
Shares weaken ahead of RBA minutes
WA Business News  6 hrs ago  Comment 
Australian shares are weaker as traders nervously await the Reserve Bank's June board meeting minutes, with the big banks and miners suffering losses.
Hedge fund manager used postal box to hide $6 million fraud, Feds say
Reuters  7 hrs ago  Comment 
A North Carolina hedge fund manager used a personal post-office box and forged bank statements to hide his theft of about $6 million over a seven-year period, U.S. regulators and prosecutors said on Monday.




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Sr. Director
Scott Redmond

The banking industry faces a challenging year in 2008 as many companies work through the weaker housing market and mortgage related issues.

In September 2007, the bank industry's earnings performance slipped for the first time in many quarters as the housing sector continued to weigh on the mortgage and investment banking businesses at many of the larger banks. The subprime mortgage fallout continued to affect the banking industry as it became difficult to value debt instruments backed by mortgages and caused a temporary credit freeze in some markets during the late summer.

More problems may arise in 2008 as rates on adjustable-rate mortgages made in 2005 and 2006 are scheduled to reset. Homeowners could potentially have a harder time making payments on these higher mortgages which may lead some to default. There is also a fear that the mortgage related problems may spill over into the credit card markets which would exacerbate the situation even further.

Banks make a profit by borrowing

Investment Banks

Investment banks help public and private institutions to raise capital and provide advice on mergers and acquisitions.

Savings and Loan Banks

Investment Banks

Foreign Regional Banks

Money Center Banks

Regional Banks

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Companies in the Banking Industry (22)

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