Good evening!
英中銀、長期的な資金支援を発表 米金融法案を巡る協議の決裂に対応
Central banks step in as bail-out fears mount (FT.com)
The Bank of England moved on Friday to inject longer term cash into money markets as part of a co-ordinated effort with the US Federal Reserve, the European Central Bank and the Swiss National Bank.
The intervention follows the breakdown late on Thursday of talks over a $700bn bailout for the US financial system.
as part of: ～の一環として
米金融安定化法案、25日夜の政府・議会幹部会合で合意に至らず
Bailout Negotiations in Disarray (WSJ.com)
WASHINGTON -- Wrangling among the nation's top political leaders threw the Bush administration's $700 billion bailout plan into disarray late Thursday, despite a dramatic day of negotiations on Capitol Hill that seemed to promise a deal.
Negotiators broke off talks Thursday night with no agreement and with plans to reconvene in the morning, without House Republicans. It was the Republicans' surprise championing of a competing plan late Thursday that derailed a carefully crafted compromise previously taking shape.
Earlier in the day, congressional leaders had hammered together the outline of a compromise that involved allotting the bailout money in installments. It was widely expected to result in a deal. However a pivotal afternoon meeting at the White House, attended by President George W. Bush, congressional leaders and the two presidential candidates, broke with no agreement.
One cause of the delay: opposition from House Republicans who have tried to fashion an alternative plan that, instead of relying heavily on taxpayer money, could let banks buy insurance for the troubled assets weighing down their books.
disarray: 混乱
wrangling among: ～間の対立
to break off talks: 話し合いを打ち切る
to reconvene: 再招集する
米ワシントン・ミューチュアルが破綻、即日JPモルガンに売却される 過去最大規模の破綻
WaMu Is Seized, Sold Off to J.P. Morgan, In Largest Failure in U.S. Banking History (WSJ.com)
In what is by far the largest bank failure in U.S. history, federal regulators seized Washington Mutual Inc. and struck a deal to sell the bulk of its operations to J.P. Morgan Chase & Co.
The collapse of the Seattle thrift, which was triggered by a wave of deposit withdrawals, marks a new low point in the country's financial crisis. But the deal, as constructed by the Federal Deposit Insurance Corp., could hold some glimmers of hope for the beleaguered banking system because it averts any hit to the bank-insurance fund.
Instead, J.P. Morgan agreed to pay $1.9 billion to the government for WaMu's banking operations and will assume the loan portfolio of the thrift, which has $307 billion in assets. The full cost to J.P. Morgan will be much higher, because it plans to write down about $31 billion of the bad loans and raise $8 billion in new capital. All WaMu depositors will have access to their cash, but holders of more than $30 billion in debt and preferred stock will likely see little if any recovery.
to seize: ～の資産を差し押さえる
Federal Deposit Insurance Corp.: FDIC、連邦預金保険公社
thrift: 貯蓄金融機関
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