Reuters: Banking and Financial News
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05/16/2008 11:02 PMFannie Mae relaxes loan down-payment requirements NEW YORK (Reuters) - Fannie Mae, the largest U.S. home funding source, is setting a single national standard for down payments on mortgages it buys, including areas where home prices are falling, in an effort to stimulate the housing market.
05/16/2008 11:02 PMOFHEO's Lockhart sees pent-up mortgage demand CHICAGO (Reuters) - A new policy on mortgage down payment requirements from Fannie Mae is "sound," and could help unleash pent-up demand, James Lockhart, director of the Office of Federal Housing Enterprise, said on Friday.
05/16/2008 04:01 PMFDIC sees another wave of U.S. credit stress coming WASHINGTON (Reuters) - The head of the Federal Deposit Insurance Corp said on Friday that another wave of U.S. credit stress was coming, involving non-mortgage loans.
05/16/2008 11:02 PMCiti mulls options for key German business FRANKFURT (Reuters) - Citigroup is mulling strategic options for its retail bank in Germany, the embattled U.S. bank said on Friday, sending its first public signal that the centrepiece of its European business may be up for sale.
05/16/2008 11:02 PMFlorida lifts suspension of Allstate license MIAMI (Reuters) - Florida Insurance Commissioner Kevin McCarty said on Friday he was lifting a suspension on insurer Allstate Corp issuing new policies in the state after the company stated it had complied with requests from his office for documents.
05/16/2008 11:02 PMCredit Suisse CEO cautions on short-term markets GENEVA (Reuters) - The chief executive of Credit Suisse warned on Friday of short-term dangers ahead in financial markets but said he was optimistic about his own bank's outlook.
05/16/2008 09:55 AMSMFG posts big rebound, forecasts modest growth TOKYO (Reuters) - Sumitomo Mitsui Financial Group reported a threefold increase in fourth-quarter profit, rebounding from massive losses at its consumer finance unit a year earlier, and it forecast modest growth ahead.
05/16/2008 11:02 PMBaloise Q1 volume up 6.7 pct, payout claims lower ZURICH (Reuters) - Swiss insurer Baloise reported a 6.7 percent rise in business for the first quarter on Thursday and lower payouts from insurance claims.
05/16/2008 11:02 PMUniCredit agrees 747 mln euros branch sale MILAN (Reuters) - UniCredit SpA has sealed a 747 million euros ($1.2 billion) deal to sell 184 branches to a group of domestic banks to meet antitrust demands over its purchase of Capitalia, the Italian bank said on Friday.
05/16/2008 11:02 PMMBIA, Ambac still at risk of downgrades-Barclays NEW YORK (Reuters) - MBIA Inc and Ambac Financial Group's bond insurance arms remain at risk of downgrade, though the loss of the top ratings would be unlikely to create the systemic meltdown that was previously feared, Barclays Capital said.
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