Nov 7th, 2009 - Reuters
Related topics:
* Big San Francisco bank serving Chinese community closed
* UCB, bought by East West, is 120th U.S. failure this year
* Beijing says China operations of closed bank are sound (Adds Chinese regulator, Minsheng background in paras 8-12)
WASHINGTON, Nov 6 (Reuters) - United Commercial Bank, a bigSan Francisco bank with branches in China, was closed by stateregulators on Friday and its banking operations were acquiredby East West Bancorp Inc, also active in both nations.
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UPDATE 1-Big California bank fails, has China branches
Nov 7th, 2009 - Reuters
(Bank closure tally hits 120, new throughout) WASHINGTON, Nov 6 (Reuters) - United Commercial Bank, a bigSan Francisco bank with branches in China, was closed by stateregulators...
UCBH Holdings' Bank Is Seized, 120th US Lender Shut This Year
Nov 6th, 2009 - Bloomberg
Nov. 6 (Bloomberg) -- UCBH Holdings Inc.’s UnitedCommercial Bank, a San Francisco-based lender with $11.2 billionin assets, was seized by regulators today, becoming the 120thU.S...
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Federal Reserve Blocks Minsheng's Acquisition Of UCB
The seizure of UCB to cost Minsheng $120m for the 9.9% stake it had in UCBH Holdings, the parent of UCB. The US regulators have blocked Minsheng, the China-based bank, from acquiring United Commercial Bank, a California-based lender, in a deal that could have saved $1.7 billion in taxpayers' money and insurance, reported The Financial Times.(Business & Finance)
jackingramFri, Nov 20th, 20091 Diggs, 0 CommentsSilicon Valley Bank Opens Representative Office In China
Silicon Valley Bank, the bank subsidiary and the commercial banking operation of California-based SVB Financial, has opened a representative office in Shanghai's Yangpu district, China. The bank said that this is a step towards building a banking platform focused on technology and life science companies in China.(Business & Finance)
petersimon98Wed, Sep 2nd, 20091 Diggs, 0 CommentsEllen Brown: California's Empty Wallet: Turning Crisis into
California's economy is larger than all the BRIC nations, except China. How is it that it is $24 billion short then? Because of debts to the banks, that's how. Brown explains how the state could set up its own bank & run a surplus, like North Dakota. CA has more than enough money - it is being siphoned off by the private banks by their monopoly. (Political Opinion)
ScottonthespotTue, Jun 30th, 20092 Diggs, 0 Comments
