The other side of banking union is the pooling of national resources to rescue any bank, anywhere in the eurozone, that is close to collapse (or to close down the relevant bank if that seems the better option).
The deal is expected to close in the third quarter and to be neutral to Bank of America earnings per share in 2008 and lift earnings per share in 2009, excluding buyout and restructuring costs.
The plan, according to a source close to the bank, is as follows.
The second weakness is that national bank supervisors get too close to the institutions they are supposed to be policing, and treat them too leniently, to the detriment of taxpayers and sometimes other countries that also suffer when a big bank fails.
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The model being contemplated is close to Japan's successful bank nationalisations a decade ago, when the state-backed bail-out agency replaced bank boards, but let many managers continue in their jobs under new supervision.
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With visibility on two uncertain elements, and with the opportunity to exit its equity stake before year-end, the time is right for the Treasury to close out its AIG position in the offering to be conducted by Bank of America Merrill Lynch, Citigroup, Deutsche Bank Securities, Goldman Sachs Group and JPMorgan Chase.
The Finance Ministry is close to inking a deal with the Swiss government to end the decades long secrecy to secret, undeclared bank accounts of the super rich.
Though the Singapore dollar is close to its highest for seven years, some analysts expect the city-state's central bank to raise the ceiling on the currency's (unpublished) trading band soon, to counter the inflationary effects of high oil prices and a tight labour market.
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The Bank of Ireland is to close nine of its smaller branches in Northern Ireland.
The Swiss bank Wegelin is to close, after admitting that it helped about 100 US clients evade paying taxes.
Currently, the Bank is required to keep inflation as close as possible to 2% per year.
People close to the bank said Chief Executive Brian Moynihan is determined to plow ahead.
Like Mr Kerviel, who used his knowledge of the bank's plumbing to create fictitious trades to cover his tracks, Mr Adoboli is alleged by sources close to an internal investigation of the affair to have bet the bank's money on the future price of various stock indices and to have then hidden these moves by creating offsetting fake transactions.
Investors will buy subordinated debt at a yield quite close to the riskless rate only if they are sure the bank is low-risk.
Monday's sale is Goldman's sixth and final sale of ICBC shares, a person close to the Wall Street bank said.
Now, as British inflation has tumbled close to German levels, so have interest rates: the Bank's repo rate is now 5.5%, compared with the European Central Bank's 3%.
He has pointed to the fact that he has family members in the UK and a British bank account and is in receipt of a state pension as proof of his close links to the country.
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The case of Wegelin is a stark one: a bank that first opened its doors in 1741 has had to close because it used the long tradition of Swiss banking secrecy to help clients avoid tax.
Not to be left out, Liberty Life, the third-biggest life assurer, is forging a close alliance with Standard Bank, Africa's largest banking group.
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