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Banking and Credit

by Banking News
AIG, U.S. Federal Reserve to terminate some debt obligations

AIG, U.S. Federal Reserve to terminate some debt obligations By: 7:50 AM CHARLOTTE, N.C. - American International Group Inc.

Ohio Congressman Opposes Bank Merger

Congressman Dennis Kucinich has sent a letter to the vice president of the Federal Reserve Bank of Cleveland opposing the merger of National City Corp.

Calls Mount For Rate Cut By European Central Bank

Calls mount for rate cut by European Central Bank; Report and analysis by Chris Burns of Bloomberg News

Merrill Lynch Is Said to Reduce Year-End Bonuses by 50% as Revenue Slumps

Merrill Lynch & Co. plans to cut year- end bonuses in half after more than $20 billion of losses that forced the U.S. securities firm to sell itself to Bank of America Corp.

School District Seeks Bailout

A financially ailing Ohio school district has joined the ranks of banks and automakers clamoring for a portion of the $700 billion economic bailout package.

Citigroup to offer $5.5 billion in debt

NEW YORK - Citigroup Inc. said Tuesday it will raise $5.5 billion through a debt offering under the Federal Deposit Insurance Corp.'s temporary guarantee program.

Scotiabank takes $642-million hit

Profit was $315-million, or 28 cents a share, compared to $954-million, or 95 cents a share, in the same quarter last year.

Credit Suisse: Not aware of U.S. probe into offshore arm

Tuesday denied a report that U.S. authorities have widened a probe into offshore tax evasion to include the Swiss bank.

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