Computer Glitches Hit Several Banks Saturday

Computer problems at banks including Wells Fargo and Bank of America kept some customers from being able to access all of their account information at times on Saturday. A few Wells Fargo branches in Orange County reported problems, with several tellers saying it was part of a national outage. Problems reported by customers there including [...]

H. Rodgin Cohen’s (Failed?) Quest To Backstop Every Bank… Ever (And Usurp Geithner’s Throne)

Over the past two weeks many banks issued press releases and opened up the PR spigot to indicate just how stable they all are now that a few have managed to pay down their TARP commitments. This of course, is nothing but a complete farce, and simply yet another chapter in the “consumer confidence” game [...]

Irish banks buy one-third of NTMA bonds (Sunday Business Post)

Irish banks account for up to one-third of the buyers of Irish government bonds issued by the National Treasury Management Agency (NTMA) since last November, Central Bank figures show. But the banks in turn are using the bonds as collateral for borrowing from the ECB. Read more….

Small banks’ boards face legal threats over failures (Atlanta Journal-Constitution)

The boards of Georgia’s small, community-based banks are filled with a virtual Who’s Who of Main Street: Car dealers, doctors, business owners, real estate developers and the like. Read more….

S.Korea BOK says banks need long-term foreign funds (Reuters via Yahoo! Asia News)

SEOUL, May 15 (Reuters) – The South Korean central bank said on Friday that local banks needed to strive to attract more long-term funds from international investors to enhance foreign exchange market stability amid easing liquidity concerns. Read more….

S. Africa’s Mboweni Banks Should Look at Prime Lending Rate (Bloomberg)

May 14 (Bloomberg) — South African banks need to reconsider why they charge their best customers 3.5 percentage points more than the central bank’s benchmark lending rate, Reserve Bank Governor Tito Mboweni said. Read more….

Mark Patterson: "It’s A Sham. The Banks Are Insolvent"

The chairman of $7 billion distressed Private Equity firm and TARP beneficiary MatlinPatterson calls a spade a spade and in the process exposes the entire Geithner plan for the complete sham that it is. His comments before the Qatar Global Investment Forum were captured by the Daily Telegraph’s Evans-Pritchard earlier, and Zero Hedge republishes the [...]