An agreement on banking union is important both to reassure the markets the euro zone can deliver on its promises and to reverse the fragmentation of the banking system, vital to stem the pace of deleveraging.
JPMorgan would be picking up WaMu's customer deposits and in this rapidly changing banking world everyone is in agreement that the important thing is the capital base with customer deposits being an important part of that.
The agreement - a key step towards banking union - will be put before European leaders later on Thursday.
Under a change made in March 2005 to the Banking Code, an industry-wide voluntary agreement, lenders were barred from sending unsolicited credit card cheques to customers with a pre-completed loan amount.
The European Union and the United States have taken some legislative action, followed by a broad agreement reached last month at the Basel Committee for Banking Supervision that should be finalized by the end of this year.
There is an oddity at the heart of today's historic agreement by the oversight body of the Basel Committee on Banking Supervision, which for the first time will impose new minimum requirements for the amount of cash and liquid assets that banks all over the world will have to hold.
The most substantial part of the Merrill settlement is the firm's agreement to not tie analysts' pay to their generation of investment banking fees.
Banking-union lite has probably surmounted its biggest hurdle, with last night's agreement of finance ministers.
There is general agreement between the House and Senate on what needs to get done, a Banking Committee spokeswoman says.
The order represents part of the government's commitment set out in the coalition agreement to promote more diversity in the financial sector, promote mutuals and create a more competitive banking industry.
Of course, the above assumes there is a new collective bargaining agreement (CBA), a Franchise tag again with a new CBA ( which the Colts are certainly banking on with Peyton Manning) and that Kolb is still an Eagle, as there will likely be a market for his services.
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