TITLE

Fed Issues Second Ultimatum of 2010

AUTHOR(S)
Sloan, Steven
PUB. DATE
January 2010
SOURCE
American Banker;1/12/2010, Vol. 175 Issue 6, p12
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Barnes Banking Co. has been told by the U.S. Federal Reserve to either raise more capital by issuing shares or sell itself to another bank. The Fed, which considers Barnes to be substantially under-capitalized, gave the firm just days to comply with its order. In May of 2009 Barnes and the Fed agreed that Barnes would develop plans to improve oversight of its credit-risk management.
ACCESSION #
47546355

 

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