Wachovia Archive

ABCP working its way down

UPDATE 2-U.S. ABCP market smallest since fall 2005-Fed Thu Dec 13, 2007 12:58pm EST By Richard Leong and John Parry NEW YORK, Dec 13 (Reuters) – The U.S. asset-backed commercial paper market contracted to its smallest level since the fall of 2005, a symptom of ongoing global credit squeeze, Federal Reserve data ...Read More

Bank losses remain less than a year’s earnings

(Reuters article) Big Banks Lower Outlook, Overshadowing Fed Plan Three major U.S. banks said they expect more write-downs and loan losses in the fourth quarter, eroding investor enthusiam over a Federal Reserve plan to ease the global credit crunch. The warnings from the three banks, Bank of America, Wachovia and PNC Financial ...Read More