Fannie's woes threaten level of core capital
Article Abstract:
In an assessment of accounting practices at the Federal National Mortgage Association, the Office of Federal Housing Enterprise Oversight has found that the government-chartered company may have deferred losses that should have been included in "core capital" in its 2003 financial report. An adjustment to the accounting violation is expected to put the mortgage bank's statement of capital below the minimum required by law.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2004
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Northern Rock seeks buyer, possibly at fire-sale prices
Article Abstract:
British bank Northern Rock PLC has gone up for sale, and is expected to attract investors who seek distressed assets. A victim of the global credit crisis, Northern Rock experienced a run on its deposits. A bargain-priced sale could zero out its equity, affecting shareholders. Stock prices for the bank have dropped 74% within the last two weeks.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2007
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