BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Hartford to Repay TARP Cash]]>http://www.bloggingstocks.com/2010/03/17/hartford-to-repay-tarp-cash/http://www.bloggingstocks.com/2010/03/17/hartford-to-repay-tarp-cash/http://www.bloggingstocks.com/2010/03/17/hartford-to-repay-tarp-cash/#commentsFiled under: , ,

Hartford Financial Services Group (HIG) is getting ready to repay its $3.4 billion in TARP money to the feds. The insurance company is using money raised from debt and equity offerings to settle its score with the American taxpayer.

Hartford is going to issue $1.45 billion in common stock and $500 million in mandatory convertible preferred stock presented by depository shares. The debt offering will entail senior notes of $425 million. Hartford will pre-fund the repurchase of senior debt that matures in 2010 and 2011 with the issuance of an additional $675 million in senior notes.

Continue reading Hartford to Repay TARP Cash

Hartford to Repay TARP Cash originally appeared on BloggingStocks on Wed, 17 Mar 2010 09:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>featuredhiginsuranceinthenewstarptarp fundsTARP repaymentWed, 17 Mar 2010 09:30:00 EST<![CDATA[Citigroup Drops Thanks to Low Price for Secondary Share Offering]]>http://www.bloggingstocks.com/2009/12/17/citigroup-drops-thanks-to-low-price-for-secondary-share-offering/http://www.bloggingstocks.com/2009/12/17/citigroup-drops-thanks-to-low-price-for-secondary-share-offering/http://www.bloggingstocks.com/2009/12/17/citigroup-drops-thanks-to-low-price-for-secondary-share-offering/#commentsFiled under:

It's shaping up to be a rough day for Citigroup (C). Shares dropped 8% in early trading thanks to some rather angry investors. Late Wednesday, the Treasury Department decided to back off a plan to sell some of its shares in Citi.

Citi sold 5.4 billion new common shares at $3.15, which brought in roughly $17 billion. Citi also sold 35 million tangible equity units at $100 each, which brought in roughly $3.5 billion. The money is earmarked for repayment of $20 billion issued through TARP, which would lead to Citi not being considered a benefactor of "exceptional financial assistance" from TARP.

Continue reading Citigroup Drops Thanks to Low Price for Secondary Share Offering

Citigroup Drops Thanks to Low Price for Secondary Share Offering originally appeared on BloggingStocks on Thu, 17 Dec 2009 11:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>CCitigroupfeaturedgovernment bailoutinthenewsTARPtarp repaymentThu, 17 Dec 2009 11:00:00 EST<![CDATA[Goldman Sachs to pay $20 billion bonuses in stock, not cash]]>http://www.bloggingstocks.com/2009/12/11/goldman-sachs-to-pay-20-billion-in-stock-mostly-bonuses/http://www.bloggingstocks.com/2009/12/11/goldman-sachs-to-pay-20-billion-in-stock-mostly-bonuses/http://www.bloggingstocks.com/2009/12/11/goldman-sachs-to-pay-20-billion-in-stock-mostly-bonuses/#commentsFiled under: , , ,

Maybe Goldman Sachs (GS) does care what outsiders think about it. The company has come under plenty of fire this year for its post-financial crisis bonus payments, especially after having accepted TARP money from the government. In order to keep the world off its back, the bank is going to pay managers their annual bonuses in stock this year instead of cash.

And the stock issued will have to be held for five years. So, recipients will have a long-term stake in the company. But it seems they're being compensated for that, too as GS is spending a total of over $20 billion in compensation.

Continue reading Goldman Sachs to pay $20 billion bonuses in stock, not cash

Goldman Sachs to pay $20 billion bonuses in stock, not cash originally appeared on BloggingStocks on Fri, 11 Dec 2009 09:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bonusBrookings InstitutionfeaturedGoldman Sachsinthenewsjp morgan chaseJPMRestricted StocktarpTARP repaymentTroubled Asset Relief ProgramFri, 11 Dec 2009 09:40:00 EST<![CDATA[Is Citi preparing to repay TARP?]]>http://www.bloggingstocks.com/2009/12/10/is-citi-preparing-to-repay-tarp/http://www.bloggingstocks.com/2009/12/10/is-citi-preparing-to-repay-tarp/http://www.bloggingstocks.com/2009/12/10/is-citi-preparing-to-repay-tarp/#commentsFiled under: ,

Reports are surfacing that Citigroup (C) may be gearing up to pay back some for the $45 billion it received from the Troubled Asset Relief Program (TARP). According to CNBC, Citi is going to raise as much as $20 billion through a stock offering as part of these plans. The report notes that Citi's CEO Vikram Pandit has changes his travel plans so he can announce an equity offering today.

Furthermore, Citi chairman Dick Parsons indicated to CNBC that the bank "is in a position to repay the TARP money, but there is an active discussion we have to have with regulators." An earlier report hinted that Citi and government regulators disagreed over how much C should raise to taxpayers.

Continue reading Is Citi preparing to repay TARP?

Is Citi preparing to repay TARP? originally appeared on BloggingStocks on Thu, 10 Dec 2009 09:20:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>cCitigroupeconomic crisisEconomicCrisisfeaturedTARPTARP repaymentTarpRepaymentThu, 10 Dec 2009 09:20:00 EST<![CDATA[Capital One warrants help chip away TARP obligation]]>http://www.bloggingstocks.com/2009/12/06/capital-one-warrants-help-chip-away-tarp-obligation/http://www.bloggingstocks.com/2009/12/06/capital-one-warrants-help-chip-away-tarp-obligation/http://www.bloggingstocks.com/2009/12/06/capital-one-warrants-help-chip-away-tarp-obligation/#commentsFiled under: , ,

The Treasury Department made $146.5 million through the sale of Capital One Financial (COF) warrants. This was the first auction of warrants conducted by the government as part of the banking system bailout. The sale was conducted by Deutsche Bank (DB) and reached a sale price of $11.75 per warrant.

The warrants, which expire on November 14, 2018, give the holders the right to purchase a share of Capital One stock at $42.13. Almost 12.7 million warrants were given to the Treasury Department a little more than a year ago, when Capital One received $3.56 billion in bailout support.

Continue reading Capital One warrants help chip away TARP obligation

Capital One warrants help chip away TARP obligation originally appeared on BloggingStocks on Sun, 06 Dec 2009 15:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>banking sectorbanksCapital One FinancialCOFdbDeutsche BankinthenewsJPMJpMorganTARP repaymentTCBTCF Financialtreasury departmentTroubled Asset Relief ProgramwarrantsSun, 06 Dec 2009 15:40:00 EST<![CDATA[Kuwaiti fund rakes in $1 billion profit on Citigroup sale]]>http://www.bloggingstocks.com/2009/12/06/kuwaiti-fund-rakes-in-1-billion-profit-on-citigroup-sale/http://www.bloggingstocks.com/2009/12/06/kuwaiti-fund-rakes-in-1-billion-profit-on-citigroup-sale/http://www.bloggingstocks.com/2009/12/06/kuwaiti-fund-rakes-in-1-billion-profit-on-citigroup-sale/#commentsFiled under: ,

In a case of buy low, sell high, Kuwait's sovereign wealth fund just unloaded its $4.1 billion stake in Citigroup (C). In doing so, the fund scored a $1 billion profit -- and a 37% rate of return on its investment -- according to the Kuwait Investment Authority (KIA).

The fund invested in Citigroup in January 2008, before the financial industry came to the brink of collapse last year, but well after the impact of the mortgage crisis had been identified. The fund also invested $2 billion in Merrill Lynch, which was acquired by Bank of America (BAC) in September 2008.

Continue reading Kuwaiti fund rakes in $1 billion profit on Citigroup sale

Kuwaiti fund rakes in $1 billion profit on Citigroup sale originally appeared on BloggingStocks on Sun, 06 Dec 2009 14:10:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>abu dhabibacBank of Americabanking sectorbanksbofacapital raisecitigroupinthenewskuwaitmerrill lynchSovereign Wealth FundstarpTARP repaymentSun, 06 Dec 2009 14:10:00 EST<![CDATA[How much would Wells Fargo need to pay off TARP like Bank of America?]]>http://www.bloggingstocks.com/2009/12/03/how-much-would-wells-fargo-need-to-pay-off-tarp-like-bank-of-ame/http://www.bloggingstocks.com/2009/12/03/how-much-would-wells-fargo-need-to-pay-off-tarp-like-bank-of-ame/http://www.bloggingstocks.com/2009/12/03/how-much-would-wells-fargo-need-to-pay-off-tarp-like-bank-of-ame/#commentsFiled under: ,

It seems that the TARP-related news from Bank of America (BAC) Thursday morning has many thinking about how much capital other banks will need to raise in order to pay back taxpayers.

One of those banks that some have speculated about is Wells Fargo (WFC). According to Keefe, Bruyette & Woods (KBW), Wells Fargo may need to raise as much as $34 billion in new capital in order to repay TARP. Fortunately for Wells Fargo, KBW believes that the companies strong pre-provision and pre-tax earnings will help limit how much capital Wells Fargowould have to raise.

Continue reading How much would Wells Fargo need to pay off TARP like Bank of America?

How much would Wells Fargo need to pay off TARP like Bank of America? originally appeared on BloggingStocks on Thu, 03 Dec 2009 12:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>analyst commentBACBank of Americafeaturedinthenewstarptarp moneytarp repaymentWells FargoWFCThu, 03 Dec 2009 12:00:00 EST<![CDATA[Is Bank of America trying to pay back the government or pull a fast one?]]>http://www.bloggingstocks.com/2009/09/01/is-bank-of-america-trying-to-pay-back-the-government-or-pull-a-f/http://www.bloggingstocks.com/2009/09/01/is-bank-of-america-trying-to-pay-back-the-government-or-pull-a-f/http://www.bloggingstocks.com/2009/09/01/is-bank-of-america-trying-to-pay-back-the-government-or-pull-a-f/#commentsFiled under:

According to the Wall Street Journal, Bank of America (NYSE: BAC) is offering to repay part of the government bailout money it received last year, and the U.S. isn't ignoring the offer.

Supposedly, the U.S. wants the bank to pay at least $500 million in order to stave off a pact that would result in the government losing on certain assets. People familiar with the matter classify the moves as an "extra measure" of federal aid for Bank of America in order to complete its acquisition of Merrill Lynch. Supposedly, both sets of the discussions would allow Bank of America to "reduce a layer of federal involvement in its affairs."

Continue reading Is Bank of America trying to pay back the government or pull a fast one?

Is Bank of America trying to pay back the government or pull a fast one? originally appeared on BloggingStocks on Tue, 01 Sep 2009 13:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>BACBank of Americagovernment paybackinthenewssocialismTARPtarp moneytarp repaymentTue, 01 Sep 2009 13:00:00 EST<![CDATA[More bank stress tests needed?]]>http://www.bloggingstocks.com/2009/06/09/more-stress-tests-needed/http://www.bloggingstocks.com/2009/06/09/more-stress-tests-needed/http://www.bloggingstocks.com/2009/06/09/more-stress-tests-needed/#commentsFiled under: , ,

The Congressional Oversight Panel announced in a report this morning that it feels more bank stress tests are needed, especially if unemployment rates continue to rise. The group believes that the stress tests should be repeated periodically as long as banks continue to hold toxic assets.

The panel used a risk-modeling approach that is described as "reasonable and conservative," but added that it is impossible for an outside party to mirror the loss projections that form the core of the stress tests. The group noted that the "more adverse scenario" assumption for the U.S. unemployment rate in the tests has nearly been met in 2009. The yearly average for the unemployment rate stands at 8.5%, which isn't far from the 8.9% assumed in the first round of stress tests. The group recommended that the "Treasury publicly track the status of its stress test macro-economic assumptions (unemployment, GDP, and housing prices) and repeat the stress test if the adverse scenario assumptions have been exceeded."

Continue reading More bank stress tests needed?

More bank stress tests needed? originally appeared on BloggingStocks on Tue, 09 Jun 2009 10:10:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bank stress testsBankStressTestseconomic crisisEconomicCrisisGDPhousing pricesHousingPricesinthenewsRupert MurdochRupertMurdochTARPtarp repaymentTarpRepaymentunemploymentTue, 09 Jun 2009 10:10:00 EST<![CDATA[Fed to okay TARP repayment for some banks, appoint a Pay Czar]]>http://www.bloggingstocks.com/2009/06/08/fed-to-okay-tarp-repayment-for-some-banks-appoint-a-pay-czar/http://www.bloggingstocks.com/2009/06/08/fed-to-okay-tarp-repayment-for-some-banks-appoint-a-pay-czar/http://www.bloggingstocks.com/2009/06/08/fed-to-okay-tarp-repayment-for-some-banks-appoint-a-pay-czar/#commentsFiled under: , , , , , ,

This morning, the U.S. Federal Reserve is expected announce that some banks will be allowed to repay the money lent to them under the Troubled Asset Relief Program (TARP). Some of the banks expected to receive approval are Goldman Sachs (NYSE: GS), JPMorgan Chase (NYSE: JPM), American Express (NYSE: AXP), Morgan Stanley (NYSE: MS), State Street (NYSE: STT) and U.S. Bancorp (NYSE: USB). All of these banks have expressed interest in repaying the government.

What is interesting is that there will be yet another Czar joining the White House, a "Repayment Czar," (what is the deal with the media's fascination with Russian royalty?) or as the administration will call the position, the "Special Master for Compensation."

Continue reading Fed to okay TARP repayment for some banks, appoint a Pay Czar

Fed to okay TARP repayment for some banks, appoint a Pay Czar originally appeared on BloggingStocks on Mon, 08 Jun 2009 10:10:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>axpbbtgsinthenewsjpmmsObama administrationObamaAdministrationsttTARPTARP moneyTARP repaymentTarpMoneyTarpRepaymentTim GeithnerTimGeithnerusbMon, 08 Jun 2009 10:10:00 EST<![CDATA[Prudential says no to bailout, prefers to raise cash instead]]>http://www.bloggingstocks.com/2009/06/01/prudential-says-no-to-bailout-prefers-to-raise-cash-instead/http://www.bloggingstocks.com/2009/06/01/prudential-says-no-to-bailout-prefers-to-raise-cash-instead/http://www.bloggingstocks.com/2009/06/01/prudential-says-no-to-bailout-prefers-to-raise-cash-instead/#commentsFiled under: ,

Perhaps lost in all of the General Motors fallout is an announcement from Prudential Financial (NYSE: PRU) that it will not take any cash from the government's financial rescue program. Instead, the firm will raise $1.25 billion on its own by offering common stock.

Last month, Prudential and five other major insurers were given permission by the Treasury Department to use some TARP funds, but PRU has decided not to participate, joining the decision by Allstate and Ameriprise, which were among the other five banks.

Continue reading Prudential says no to bailout, prefers to raise cash instead

Prudential says no to bailout, prefers to raise cash instead originally appeared on BloggingStocks on Mon, 01 Jun 2009 09:50:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>inthenewsPRUPrudential FinancialPrudentialFinancialraising capitalRaisingCapitaltarp fundstarp repaymentTarpFundsTarpRepaymentMon, 01 Jun 2009 09:50:00 EST<![CDATA[Fifth Third to raise capital by selling stock]]>http://www.bloggingstocks.com/2009/05/21/fifth-third-to-raise-capital-by-selling-stock/http://www.bloggingstocks.com/2009/05/21/fifth-third-to-raise-capital-by-selling-stock/http://www.bloggingstocks.com/2009/05/21/fifth-third-to-raise-capital-by-selling-stock/#commentsFiled under:

Cincinnati-based Fifth Third Bancorp (NASDAQ: FITB) announced Wednesday that it plans to sell stock in order to raise capital. FITB plans to sell $750 million of common stock in order to meet its commitment to push its capital beyond the $1.1 billion it needs according to the recent stress tests.

The bank will perform two transactions to help provide the common equity. FITB plans to sell up to an aggregate of $750 million of its common shares occasionally with an "at the market" offering through Morgan Stanley and Merrill Lynch. The firm expects to use a part of the proceeds of shares issued under the offering to fund the cash portion of its offer to exchange cash and common shares for Series G convertible preferred depositary shares.

Continue reading Fifth Third to raise capital by selling stock

Fifth Third to raise capital by selling stock originally appeared on BloggingStocks on Thu, 21 May 2009 09:45:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>fifth thirdfifth third bancorpFifthThirdfitbinthenewsTARP moneyTARP repaymentThu, 21 May 2009 09:45:00 EST<![CDATA[BB&T reveals plans to repay TARP funds]]>http://www.bloggingstocks.com/2009/05/11/bbandt-reveals-plans-to-repay-tarp-funds/http://www.bloggingstocks.com/2009/05/11/bbandt-reveals-plans-to-repay-tarp-funds/http://www.bloggingstocks.com/2009/05/11/bbandt-reveals-plans-to-repay-tarp-funds/#commentsFiled under:

Earlier this morning, BB&T (NYSE: BBT) announced that it will cut the size of its dividend as part of its plan to repay all stock and warrants that were invested in the company through TARP. BBT said that a 15-cent dividend will be paid on common stock in the third quarter -- 68% lower than the company's current 47-cent dividend.

BBT declare: "In addition to our current earnings, while superior to our peers, are not likely to justify our 47-cent dividend in the near term." The company said that the board decided to make the dividend cut thanks to "the risk and uncertainty associated with being a TARP participant." This reduced dividend will be paid on August 3 to shareholders of record as of July 10.

Continue reading BB&T reveals plans to repay TARP funds

BB&T reveals plans to repay TARP funds originally appeared on BloggingStocks on Mon, 11 May 2009 08:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>debt repaymentDebtRepaymentdividenddividend cutDividendCutinthenewsstock offeringStockOfferingTARPTARP repaymentTarpRepaymentMon, 11 May 2009 08:30:00 EST