NewAlliance Bancshares, Inc. ( NAL) is the holding company for New Alliance Bank, formed from the conversion of New Haven Saving Bank and the acquisition of Connecticut Bancshares and Alliance Bancorp of New England.
Internal austerity measures, including salary cuts and redundancies, proved unequal to the task of saving the bank, as the value of its assets continued to fall.
The Japanese emphasis on face-saving then meant the bank could not reverse the policy once it became clear that a serious error had been made.
What it won't get back, says the NAO, is enough to compensate the public sector either for the risks it ran in saving the troubled mortgage bank or for locking up its money in loans to the Rock for many years.
Even if Japanese citizens continue to finance the government, as they have done, strangely enough, since the end of World War II, the growing numbers of retirees who are spending instead of saving will force the Bank of Japan to monetize the remaining debt.
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Just as the banker who appointed Corzine to head Goldman Sachs in 1994, believed he was entitled to buy Goldman shares in late 2008 even if he was privy to inside information as a Goldman director and chairman of the New York Federal Reserve Bank in charge of overseeing Goldman and saving its existence from a run on the bank.
Ally Bank was recently offering online saving accounts with a 0.84% interest rate and Utah-based CIT Bank was offering 0.85% compared with a 0.1% national average.
Part of our saving might go in the bank, where it will be available to lend to someone who is looking to buy a house or a car or open a new business.
Louis Kuijs of the World Bank has examined sectoral saving patterns in China and points out that both these sectors are far more frugal than many observers realise.
Peter Hooper and Torsten Slok of Deutsche Bank reckon that if saving stays at about 6% of income, write-offs remain near today's elevated level and household income rises by 4.5% a year, household debt will fall from 126% of disposable income now to around 85%, where it was in the early 1990s, by 2013 (see chart 3).
China's excess saving is currently funnelled through the central bank into (overpriced) American Treasuries and similar bonds.
Some 60% of bank deposits and almost all saving accounts are in dollars.
That has cut capital on hand by hundreds of millions of dollars, a substantial percentage of the bank's capital, saving millions a year in funding costs.
But even while Mr Purcell remains, a floor under the share price is being provided by speculation that he will arrange a face-saving exit for himself by selling the bank.
Most of the accounts considered worth saving from Laiki would find a new home at Bank of Cyprus.
The EU's biggest member has acquired a reputation for looking after itself whether over saving the Opel carmaker or over euro-area bank rescues.
But if yields are low because of an increase in global saving relative to opportunities for investment, the central bank would need to tighten less.
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When I first began saving for a house, I envisioned a piggy bank, in which each monthly mortgage payment was an investment into building long term wealth and financial security.
The bank produces cartoon books explaining the rudiments of saving and investment in 11 local languages, and hands them out in schools and post offices.
But even those without bank accounts said they made a practice of saving money, and had goals like saving for their childrens' education, buying a home, or sending money back to their native countries.
Bank deposits, still the most popular way of saving, are also growing rather more slowly this year.
It is a nice irony that the bank, which has done so much to discourage saving, is one of the most prudent savers of all.
It was because of this reliance on deposits, which have reached about four times the size of Cyprus's economy, that the euro zone and the IMF insisted that bank-account holders contribute to the cost of saving the country and its banks.
Looking at your empty bank account should not dishearten you or keep you from saving but, instead, motivate you to build the financial discipline to set a goal, make a plan, and start saving automatically.
Now, with the city ID, her bank and others will allow them to open an account, saving money.
For now Moynihan is clearly banking on cost-saving measures associated with mass layoffs to help convince stock market investors that Bank of America is headed in the right direction and can deal with the current low-interest rate environment, mortgage-related legacy issues and new international banking capital requirements that Moynihan said were the biggest challenges facing his bank.
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Some states also allow you to add beneficiaries to bank and investment accounts, and even to your home and vehicles, saving your heirs from the time and cost of probate.
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