Fed Issues Second Ultimatum of 2010

Sloan, Steven
January 2010
American Banker;1/12/2010, Vol. 175 Issue 6, p12
Trade Publication
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.


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