News Tag: Timothy Geithner
September 25, 2009
Sterling fell this morning to a near four-month low to $1.5917 against the US dollar before creeping back up to $1.5989.
The level was the lowest seen since early June after G20 leaders said stimulus packages will remain until a recovery is sustainable.
However, the pound is still currently higher than the low levels of below $1.50 seen ...
Dollar receives a boost after 1st day of G20 summit
by Kay Murchie
June 14, 2009
At a meeting in Italy yesterday for the Group of Eight (G8) industrialised nations, it was acknowledged that there are signs of stabilisation in the world’s leading economies.
G8 ministers said stock markets were rising, interest rates more stable, and consumer confidence was returning.
However, finance ministers reluctantly admitted that the global situation still "remains uncertain” and the ...
G8 nations acknowledge signs of stability in world’s largest economies
by Kay Murchie
May 20, 2009
US Treasury Secretary, Timothy Geithner, expects US banks to repay $25 billion (£16 billion) of bailout funds over the next 12 months.
According to Mr Geithner, the money will be put towards helping other financial institutions in need of assistance.
Mr Geithner told Congress it is imperative that the Government protect the remaining $123.7 billion in its $700 ...
US Treasury anticipates $25bn to be repaid by bailed out banks
by Kay Murchie
May 8, 2009
Following the recent stress tests on 19 US banks, it has now been revealed that ten of the banks require a total of $74.6 billion (£50 billion) in extra capital to cover future losses.
The stress tests were conducted by the Federal Reserve to establish which financial institutions are in a position to weather the downturn.
While it was unveiled ...
Ten US banks require $75bn to cover future losses
by Kay Murchie
May 7, 2009
Following the recent stress tests on 19 US banks, carried out to establish which financial institutions are in a position to weather the downturn, the Federal Reserve has revealed that no US banks are at risk of insolvency.
However, the results have revealed that tens of billions of dollars are needed to strengthen balance sheets at several ...
Fed stress tests reveals US banks not at risk of insolvency
by Kay Murchie
