Last year, the government abruptly changed its lending rules for auto loans and private banks had to comply or lose business to the big state banks, mainly Banco do Brasil and Caixa Economica Federal.
Yes, HSBC had a pretty high profile and much-touted withdrawal, but Morgan Stanley just learned it will manage a multi-billion dollar privatization of SovComFlot, a state-owned ship construction and shipping business, and other Western investment banks are chomping at the bit to get a piece of the other asset sales that are coming down the pike.
Ltd. in the western state of Gujarat, said his business was hit as several government-owned banks were shut.
German and Russian state banks agreed to consider setting up a fund to support small business in Russia.
The four state banks from which it was formed relied largely on government employees and their families for business.
Securities servicing is a fast-growing, largely behind the scenes business that rakes in billions in revenues for the three banks that dominate it: State Street (nyse: STT - news - people ), Bank of New York (nyse: BK - news - people ) and JPMorgan Chase (nyse: JPM - news - people ).
To foster more credit, the package would create the small business lending fund I proposed in my State of the Union address to help underwrite loans through community banks.
When Banespa is privatised, any buyer will gain a large and very liquid bank with a well-sited network of more than 550 branches in Sao Paulo state, Brazil's biggest financial and business market, says Paulo Zaghen, the central-bank director in charge of rescuing state banks.
"A lot of lenders and banks either don't fully understand the skilled nursing business, are in an environment where state budgets have been strained and fear threatened curtailments to Medicare, " said Nick Gesue, chief credit officer for Lancaster Pollard, a Columbus, Ohio, firm that makes loans to nursing homes with FHA backing.
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