Fitch Ratings Primary Analyst:
The Department of the Treasury (``Treasury'') intends to issue a new type of marketable security with a floating rate interest payment. We are issuing this Advance Notice of Proposed Rulemaking to solicit comments on the design details, terms and conditions, and other features of this new type of security. We also invite other comments relevant to the issuance of this new security.
As a result of rapid debt growth and a pronounced increase in net interest-bearing debt, a given interest rate change will have a stronger impact on household interest expenses now than previously. The short-term impact of an interest rate change on household interest expenses also depends on the share of fixed-rate loans in relation to total household debt and fixed-rate periods. The share of household fixed-rate loans is low in Norway. At the end of the first quarter of 2007, fixed-rate loans accounted for only a little less than 8% of household loans. There may be various motives behind households' choice of a fixed or a floating interest rate. Whatever the underlying motive for borrower's choice of fixed or floating rate, the difference between the interest rate on fixed and floatin...
Reznick Group, N.J. firm plan mergerReznick Group P.C., of Bethesda, and J.H. Cohn LLP, of Roseland, N.J., said they will merge to form the 11th largest accounting and tax firm in the country, with more than 2,000 employees, 25 offices and revenue of more than $450 million. The merger is expected to take effect in September. The combined company -- its name as yet undetermined -- will be headquartered in New York City. Current CEOs Ken Baggett of Resnick and Tom Marino of Cohn will be co-CEOs for three years, after which the firm's partners will elect a new CEO, Marino said. He said the merger will not lead to layoffs. RLJ Lodging finalizes refinancingRLJ Lodging Trust, of Bethesda, a real estate investment trust focused on acquiring premium-branded and compact full-service hotels, said...
... football field, complete with lights, first-rate scoreboard, wrap- around track and more, and the c... an additional 56 small-business owners interested in owning an insurance agency to meet growing cons...
Ariel Holdings Ltd. Victoria Guest, +1-441-278-0766
Most community bankers have some understanding of the set of proposed international capital standards regulations known as "Basel III." Most also know of ICBA's all-out opposition to the proposals as extremely and unnecessarily harmful to community banks, especially certain provisions of the rules. But what may have escaped you is the part that would require changes to the market value of your bond portfolio to be run through your bank's Tier 1 capital calculations. If the proposals become regulations as currently written, it can be expected that community bankers would manage the portfolio with a whole new set of objectives. This could mean much shorter effective duration bonds, either through floating rate features or short stated maturities. Other strategies may need to be employed, ...
... act in their institution's best interest, without causing wild swings in their capital rati...
Rockhill, Inc. is an electric utility operating in mid-western United States. The process of deregulation in electricity generation has transformed the utility's competitive landscape, prompting it to divest much of its generating assets, shift its focus to electricity transmission and distribution, and revise several of its financial policies. Among other things, the company has adopted the policy to lease, rather than purchase, any additions to its fleet of vehicles. While the vehicles it currently owns represent slightly over 40% of its entire fleet (with the remainder being leased), over time, its "lease-only" policy will eliminate owned vehicles altogether, since vehicles must eventually be replaced. In the meantime, though, it wishes to evaluate the economic advisability of speedi...
...Rockhill has decided to divest its interests in electricity generation and to focus on the stil...
For the fiscal year 2005 to 2006, the debt management strategy will seek to maintain an appropriate mix of fixed-rate and floating-rate debt to further diversify and minimise interest-rate risk. The strategy will see the extension of the maturity profile of the debt to better manage refinancing risk and a continuation to increase the transparency and predictability of debt issuance.
Housing sales are slowing, the Federal Reserve has hit the pause button on its recent string of interest rate hikes, and the hodge- podge world of real estate keeps floating on a balloon. But will it ever burst? Here's a quick look at a few news items gathered here and there from the real estate world:
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