Posts Tagged ‘Balance Sheet’

Fed Generates $46.1 Billion Profit in 2009

The Federal Reserve had its biggest bottom line ever in 2009, generating record profits as its holdings of Treasury, mortgaged-backed securities and agency debt grew.

The Fed last year generated a net income of $52.1 billion, of which it paid $46.1 billion to the U.S. Treasury, the Fed said Tuesday.

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Group exonerates fair-value rules in controversial decision

The Financial Crisis Advisory Group, an influential group of policymakers, concluded that mark-to-market accounting rules probably understated, rather than overstated, losses in the banking sector. The International Accounting Standards Board and the Financial Accounting Standards Board established the group to discuss issues related to the credit crisis, including off-balance-sheet vehicles and fair-value accounting.


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Economic reports this week


June 29 June 30 July 1 July 2 July 3

- 4-Week Bill Announcement
11:00 AM ET
- 3-Month Bill Auction
1:00 PM ET
- 6-Month Bill Auction
1:00 PM ET
- Farm Prices
3:00 PM ET

- Chicago PMI
9:45 AM ET
- Consumer Confidence
10:00 AM ET
- State Street Investor Confidence Index 10:00 AM ET
- Jim Bullard Speaks
12:00 PM ET
- 4-Week Bill Auction 1:00 PM ET
- 52-Week Bill Auction 1:00 PM ET
- Thomas Hoenig Speaks 4:10 PM ET
- Janet Yellen Speaks 9:00 PM ET

- Motor Vehicle Sales
- MBA Purchase Applications
7:00 AM ET
- Challenger Job-Cut Report
7:30 AM ET
- ADP Employment Report 8:15 AM ET
- ISM Mfg Index
10:00 AM ET
- Construction Spending
10:00 AM ET
- Pending Home Sales Index
10:00 AM ET
- EIA Petroleum Status Report
10:30 AM ET

- Employment Situation 8:30 AM ET
- Jobless Claims
8:30 AM ET
- 30-Yr Bond Announcement
9:00 AM ET
- Factory Orders
10:00 AM ET
- EIA Natural Gas Report
10:30 AM ET
- 3-Month Bill Announcement
11:00 AM ET
- 6-Month Bill Announcement
11:00 AM ET
- 3-Yr Note Announcement
11:00 AM ET
- 10-Yr Note Announcement
11:00 AM ET
- 10-Yr TIPS Announcement
11:00 AM ET
- Fed Balance Sheet 4:30 PM ET
- Money Supply
4:30 PM ET

- US Holiday: Independence Day Observed

All Markets Closed

Police raided the headquarters of Anglo Irish Bank in Dublin yesterday morning

Countdown to raid on Anglo:May 2007 Anglo Irish Bank’s shares peak at more than €17 each
July 2008 A so-called “golden circle” of ten investors secretly buys a 10 per cent stake in the bank
September 30 Government unveils a €400 billion guarantee scheme for six banks, including Anglo Irish
December 18 Sean FitzPatrick, the chairman, resigns and admits he hid more than €80 million in secret loans from shareholders
Decemeber 19 David Drumm, the chief executive, resigns
December 21 Government recapitalises Anglo with €1.5 billion
December 29 Shares plummet to 12 cents
January 15, 2009 The Government is forced to nationalise Anglo
January 16 Shareholders call for the board to be sacked
January 19 Five board members resign
February 10 Irish Life & Permanent’s €7 billion deposit to boost Anglo’s balance sheet is revealed
February 20 Donal O’Connor, the new executive chairman, reveals that it gave loans worth €451 million to ten customers last year to buy shares in the bank.

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