8 Banks Discuss Aid for Bond Insurer
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The banks are considering injecting capital into the Ambac Financial Group and assuming some of the risks associated with guarantees written by the company.
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China's banking regulator said it had  received eight applications from foreign banks for local  registration, which it would begin processing on Monday, a  first step in granting national treatment.
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British life insurers Resolution  and Friends Provident  confirmed on Monday that they are in advanced merger discussions that could lead to the creation of a group worth over 8 billion pounds ($16.4 billion).
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Fed boss Ben Bernanke is monitoring problems at bond insurers that may see more sub-prime banking losses.
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Fear of bond insurers losing their  investment-grade credit ratings is rattling investors as  estimates mount for the cost of paying for the latest chapter  in the widening U.S. credit crisis.
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The S.E.C. is looking at whether unwinding financing vehicles like conduits could strain the balance sheets of major investment banks.
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Barclays  and Royal Bank of  Scotland  have lined up emergency funds of up to $30  billion from the U.S. Federal Reserve to bail out American  clients caught up in the global credit crunch, a paper said.
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About 50 large bond investors, including pension funds, insurance companies, mutual funds and other managers, have banded together to lobby companies for better investment-grade bond contracts, The Wall Street Journal reported on Monday.
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Banknorth Group , New England's largest independent bank, said this week it is interested in putting its name on the FleetCenter.
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Bank of America Corp  is in advanced talks to buy struggling Countrywide Financial Corp , the largest U.S. mortgage lender, several people familiar with the matter said on Thursday.
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Investors are wary of insurance guarantees for some bonds issued by cities to fund capital projects.
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ALBANY, New York  - New York Gov. Eliot Spitzer said on Tuesday he was working "extraordinarily hard" to aid troubled bond insurers, adding that he would do what is appropriate for the bond market, and the municipal market in particular.
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Bank of America Corp  is in  advanced talks to buy struggling Countrywide Financial Corp  , the largest U.S. mortgage lender, several people  familiar with the matter said on Thursday.
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Four big banks face a U.S. Securities  and Exchange Commission probe of their auction-rate bond  operations, a securities filing shows.
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A proposed government effort to inject an eventual $15 billion in new capital into bond insurers could be enough to assure capital adequacy, a Standard & Poor's analyst said on Friday.
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Goldman Sachs , the U.S. investment bank advising the British government on the future of Northern Rock , is seeking to widen the range of options open to the government in its bid to rescue the stricken bank.
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Warren Buffett said on Tuesday he has  made a pitch to the three largest bond insurers to reinsure  $800 billion in municipal bonds, but had been rebuffed by one  of the companies, while the other two have not yet responded.