When the Federal Reserve changes rates we all have questions: What does it mean to me?
Will my mortgage rate go up or down? Is this a good time to refinance?
We've looked at five categories - mortgages, home equity loans, auto loans,
credit cards and certificates of deposit - to determine if the Fed's moves made
you a winner or a loser.
Banking News
Kuwait Invest Holding sells brokerage stake to EFG-Hermes - 18.08.2008 Kuwait Invest Holding Co said on Monday it sold a 50 percent stake in a brokerage unit to EFG-Hermes HRHO.CA, Egypt's largest investment bank by market value, for 33.4 million dinars ($124.4 million).
Halifax brings relief to thousands of mortgage customers - 13.08.2008 Halifax has today cut the cost of its mortgages, following Northern Rock and Lloyds' interest rate cuts yesterday. Halifax customers coming to the end of their short-term mortgage deal can now benefit from lower product transfer rates.
Citigroup in $7.6bn settlement over auction-rate bonds - 08.08.2008 Citigroup agreed to a $7.6 billion landmark deal with regulators yesterday to settle charges that it mis-sold bonds to customers. Merrill Lynch announced its own plans to buy back from clients up to $10 billion of the same asset class, known as auction-rate securities (ARS).
Russian banks are becoming more reliable - 07.08.2008 International rating agency Standard & Poor's raised the reliability of the Russian banking system, moving into a higher group reliability 7.
Mitsubishi UFJ Q1 profit slides 66,2% - 05.08.2008 Top Japanese bank Mitsubishi UFJ Financial Group (MUFG) issued a financial report. Bank's net profit I quarter in the 2008-2009 fiscal year decreased by 66.2% to 51.2 billion yen ($475 million) against 151.26 billion yen ($1.4 billion) received for the same period a year earlier.
BankThai to raise new capital via rights issue - 02.08.2008 Thailand's BankThai said on Thursday it planned to sell 6.67 billion new shares in a 1:1 rights issue at a price not lower than 0,66 baht each ($1=33,48 Baht), as part of a plan to boost its capital position.
Savings in European-based banks - 01.08.2008 Savers with deposits in some foreign banks operating in the UK were this week given a sharp reminder that, in the unlikely event of a bank defaulting, they would not be entitled to the maximum £35,000 compensation payable to savers with UK banks.
Two banks in USA collapse as defaults soa - 29.07.2008 Financial authorities in Washington spent last week securing a rescue deal for two insolvent mortgage lenders in Nevada and California amid the latest signs that America's banking crisis is deepening.
