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Washington
Inside Washington (04/24/2009)
* WASHINGTON (4/27/09)--The Federal Deposit Insurance Corp. (FDIC) plans to offer loan packages to investors starting in June that would serve as the first phase of the agency’s Legacy Loans Program. The phase will be a pilot sale of loans to test the program, FDIC Chairman Sheila Bair said (American Banker April 24). Some banks already have committed to participating and the test will help to create a larger program, she added. The Legacy Loans Program aims to attract private capital through an FDIC debt guarantee and Treasury equity co-investment (News Now April 10) ... * WASHINGTON (4/27/09)--On Friday, federal regulators detailed the criteria used to stress-test the nation’s 19 largest banks but did not provide much new information for investors to determine which banks are stronger than others (The New York Times April 24). The report suggested that regulators are concerned about the amount of capital they want banks to hold in common stock to cushion them against future losses. Using the information from Friday’s report, Wall Street is already using the information to make bets on which bank stocks may rise or fall. Final results will be made public May 4. Regulators plan to inform banks that need more capital ...


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