New Developments in Chinese Bank and foreign banks
Bank of America: Countrywide in Illinois ignored the national mortgage ban Bank of America
Bank of AmericaCorp, BAC said its rural loans’ U.S. company (Countrywide HomeLoansInc) in Illinois will bring the introduction of new mortgage business, ignoring the national regulatory authorities on October 16 the company’s ban.
French Commercial Savings Bank is facing 600,000,000 euros derivatives loss
Franch Commercial Savings Bank on October 17th: French Commercial Savings Bank (Caisse d’Epargne), said that its derivatives business lost approximately 600,000,000 euros (about 809,000,000 U.S. dollars).
JP Morgan Chase replaced Citigroup as the nation’s largest bank
Citigroup of U.S. released financial report that on the 16th the profit in the third quarter of this year of Citigroup continued losses. At present, the total assets of Citigroup 2,050 billion U.S. dollars, has given the throne of nation’s largest bank to JP Morgan Chasee.
ICBC opened a branch in New York
ICBC of China branch in New York on October 15th in New York held the opening ceremony. The New York branch is the first branch which is set up by ICBC in the United States, and it successful open not only further improve the bank’s global financial services network, also marks the bank’s international business strategy of a major breakthrough.
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