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(3 December 2009 – Asia) The Monetary Authority of Singapore (MAS) has said that the Dubai debt crisis should not affect the financial stability of Singapore’s banking industry.
(2 December 2009 – Europe) Two of Ireland’s banks are hoping to receive around €28.2 billion (A$46 billion) for property loans that went bad during the global financial crisis; as the government sets up a ‘bad bank’ to buy the loans at a discounted price.
(1 December 2009 – Australia) The government of Dubai surprised markets on Thursday by requesting a six-month moratorium on debt repayments of its investment vehicle, Dubai World, and has sent a wave of questions aimed at Australian banks about possible exposures.
(1 December 2009 – USA) A Supreme Court Judge has ruled against a US bank’s conduct and has written off a family’s US$525,000 (A$575,000) mortgage.
(27 November 2009 – USA) Citigroup’s eighth quarterly mortgage data report reveals the ongoing success of its foreclosure prevention program; enabling 130,000 distressed home owners to remain in their homes in the current quarter alone.
(10 November 2009 – Australia) The Commonwealth Bank has announced that it has put away a reasonably significant sum for the compensation of the Storm clients.
(2 November 2009 – USA) CIT has made a filing in the New York bankruptcy court after a debt-exchange offer to bondholders failed.
(21 October 2009 – USA) An American billionaire financier, Carl Icahn has offered a US$6 billion (A$6.47 billion) loan to failing Commercial Investment Trust (CIT) bank to avoid bankruptcy.
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