JP Morgan puts hedge-fund debt at about $1 billion, is latest to own up

Article Abstract:

New York City, NY-based J.P. Morgan and Company, one of the leading financial institutions involved in the bailout of Long-Term Capital Management LP, has announced that it is was owed about $1 billion by hedge funds. Morgan, which is a major overseas lender and a leading trader in emerging-markets debt, has been notified that Moody's Investors Service has placed its long-term debt ratings and its rated units on review for possible downgrade due to the uncertain conditions of many of its businesses.

Comment:

Has announced that it is was owed about $1 bil by hedge funds

Securities Dealers, Investment Banking and Securities Dealing, Sales, profits & dividends, J.P. Morgan and Company Inc.

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National Commerce decides not to sell; bank's strengths took pressure off sale

Article Abstract:

National Commerce Bancorp. will not put itself for sale after taking several weeks to look into that possibility. In July 1998, the bank began considering putting itself up for sale. A sale would have raised up to $3 billion or more. National has $5.2 billion in assets. The bank had commissioned the services of Goldman, Sachs & Co. and Morgan Stanley Dean Witter & Co. for the possible sale.

Comment:

Will not put itself for sale after taking several weeks to look into that possibility

Commercial Banks, Commercial Banking, Strategy & planning, National Commerce Bancorp.

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