Bloomberg reported that for all the efforts to regulate banks since Lehman Brothers collapsed, stock investors have no more faith in U.S. financials now than they did in early 2008, relative to the rest of the market.
United Stationers extended its $700 million revolver maturity to July 6, 2018. J.P. Morgan Securities, U.S. Bank and Wells Fargo Securities served as joint lead arrangers.
The Fed said it has approved a final rule that establishes an integrated regulatory capital framework for larger banking organizations, while it minimizes the burden on smaller, less complex financial institutions.
1-800-FLOWERS.COM said it has entered into a new amended credit facility, comprised entirely of a $200 million revolver, with a syndicate of lenders led by JPMorgan Chase.
In an article that appeared in CFO magazine, the author notes that the latest exposure draft on accounting for credit losses from FASB could bring sweeping changes to the way banks account for credit losses on their balance sheets.
King & Spalding recruited finance and banking lawyers Chris D. Molen and J. Craig Lee as partners in its financial institutions practice in Atlanta. They join King & Spalding from Paul Hastings.
Bloomberg reported that top U.S. bank regulators and lawmakers are pushing for action to limit the risk that the government again winds up financing the rescue of one or more of the nation’s biggest financial institutions.
FTI’s New Co-Leaders of Corporate Finance & Restructuring: For a Couple of ‘Client Service Guys’ Optimism and Opportunity Abound
This summer, ABF Journal readers learned that Robert (Bob) Duffy and Kevin Lavin had been appointed to co-lead FTI’s Corporate Finance/Restructuring practice thereby joining the executive committee comprised of practice leaders of the firm’s five key business segments. While many would fret at what lies ahead in this relatively slow period for traditional restructurings, these self-admitted “client service guys” only see advantages and opportunities.
Back in the spring of 2008, ABF Journal checked the pulse of the healthcare market and learned that lenders were optimistic. The real estate market was sinking, financial institutions were reining in lending, and government reimbursements were less than predictable, yet the outlook for healthcare seemed bright. Baby Boomers were aging, and people were living longer and requiring more services. Was this sector recession-proof? How did the economic downturn affect the industry, and where does it stand in 2011? Here, we examine the sector’s pressure points.
In October 2009, the Federal Trade Commission, at the request of Congress, delayed the enforcement of the so-called “Red Flag” rules geared to address the risk of identity theft until June 1, 2010. That date is important to financial institutions as failure to comply opens the door to legal aggravation including civil monetary fines and lawsuits.