American Banker

American Banker is a Monday to Friday daily trade newspaper owned and published by SourceMedia, Inc. American Banker is headquartered in New York, N.Y. and was first published in 1836. Readers of American Banker are primarily high ranking banking executives and those with billions of dollars in assets. Seventy percent of American Banker readers hold senior management positions and 66 percent come from financial institutions, with 55.8 percent of those working in the commercial and retail banking sectors. Twenty-one percent of the readership control assets totaling $50 billion and above. The newspaper is published across the United States.In the 1960s, then-editor William E. Zimmerman traveled around the United States reporting on the civil rights movement by asking African-Americans what they needed from the banking industry and in turn interviewing local bankers to find out what services they were providing for African-Americans.In 1988, American Banker reported that the Japanese have the 10 largest banks in the world and that the U.S. banks, for the first time in three decades, were knocked out of the top 25 due to the falling dollar. Citibank, the largest bank in the U.S. at the time, fell from the 17th largest bank in the world to 28th, with $101.1 billion in deposits.American Banker was also the first national publication to report extensively on the fall of Penn Square Bank in Oklahoma City. Marc Hochstein is the Executive Editor, John DelMauro is the Vice President and Group Publisher, Richard Melville is the Group Editorial Director, Banking, and John DeCesare is the Group Publisher.

Articles from Vol. 159, No. 145, July 29

Are FDIC Premiums Too High? It Depends on Who You Ask
Searching for protection against the next financial disaster, Congress in t989 ordered the Federal Deposit Insurance Corp. to beef up the insurance funds. Lawmakers barred the agency from lowering its tales until the Bank Insurance Fund held $1.25...
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Bankers See Derivatives as Risky, but Manageable; Safeguards, Not Regulation, Said to Be Key
Ask any banker, regulator, chief financial officer, or member of Congress what is most worrisome about international financial markets and the answer is likely to be "derivatives." Little understood and much maligned, derivatives - the hedging and...
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Chemical Buys Trading Software from Reuters
Chemical Banking Corp. has purchased software from Reuters America Inc. that will enable 200 traders to access and distribute real-time information, through networks of personal computers. Reuters is a third-party reseller of the two systems, called...
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Dallas Bank Holding Its Own against Big Players in Funds
What one Dallas community bank lacks in size it makes up for in gumption, Since launching its own investment products sales pro, gram two years ago, $166 million-asset Equitable Bank has been holding its own against much larger banks and brokerage...
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Fed Said Too Slow on Allowing Mexican Banks to Expand in U.S
WASHINGTON -- Mexican bank advocates are crying foul over the Federal Reserve Board's decision Wednesday to let seven U.S. banks set up shop there while continuing to debate whether Mexican institutions can expand here. "The overall appearance of...
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First Boston Hires BT Loan Syndication Pro
CS First Boston's foray into leveraged lending gathered more steam Thursday with the hiring of Bruce Ling a loan syndication executive at Bankers Trust New York Corp. The move follows the Wednesday arrival at First Boston of Richard Ivers, formerly...
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Flagship of Mass. Sails to the Top in SBA Lending
A six-and-a-half-year-old Massachusetts community bank is blazing a trail in small-business lending. In just three years of active business lending, Flagship Bank and Trust Co., Worcester, has become one of the top Small Business Administration...
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Global Village Won't Bury Financial Centers
Futuristic scenarios describe a brave new world of international banking without financial centers, without offices, and in some cases, without people. Multipurpose computer workstations and communications networks will permit bankers and their...
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In a Radically Altered Environment, Banks Know That Adapting Is Crucial
Does traditional banking have a future? From Mexico City to New York and Tokyo, bankers are rethinking what role, if any, their institutions will play. And it's not a minor question. "Technology, deregulation, and competition have altered the...
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International Regulators Issue Guidelines on Swaps
The explosive growth in the derivatives market has spurred unprecedented cooperation between international banking and securities regulators, who this week teamed up to issue supervision and risk management guidelines. The Basel Committee on Banking...
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IRS Rule Banning Start-Up Deductions May Lead Fund Companies to Hike Fees
A new tax policy could prompt mutual fund management companies to hike the administrative fees they charge investors, an industry accountant is warning. The policy, outlined in an Internal Revenue Service statement in the spring, effectively bars...
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Optical Disk Storage Spinning into Wider Use
Optical disk technology, long held out as a savior to large banks with a plethora of paper, has been increasing in popularity among banks both big and small. Originally perceived as a way to access check images quickly, the technology is now used for...
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Real Danger in Derivatives Is Inconsistent Regulation; the Playing Field Needs to Be Leveled So That Exchange-Traded Products Can Coexist with the OTC Markets
Procter & Gamble, J.P. Morgan, General Electric, Gibson Greeting, Cargill. Each company has reported a surprising financial loss from derivatives trading. Each company's loss stemmed purely from over-the-counter interest rate derivatives. According...
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SafeCard Sees Acquisition Spurring Growth, Diversity
SafeCard Services Inc. entered another phase of its new growth cycle this week with the announcement that it will acquire Wright Express Corp. It is the first such transaction engineered by SafeCard chairman and chief executive Paul G. Kahn, who...
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Thrift Exec Defends Low Rates on ARMs
Mario Antoci, chairman of California's American Savings Bank, has no patience for those who claim that thrifts are offering adjustable-rate mortgages at recklessly low rates. In a recent interview, he lashed out at the critics - especially Angelo...
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Treasury and Fed Officials See No Pressing Need for Swaps Law
Banking regulators assured the International Swaps and Derivatives Association that they see no immediate need to regulate the industry - and said that they have advised Congress accordingly. "We are not encouraging any broad-based legislation at...
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Wholesale Lenders Hit Hardest by Slump
The longest and most pained faces in today's home-loan industry belong to the wholesale lenders. With reduced loan-origination volume and heated price competition, mortgage bankers say wholesale lending - buying loans and servicing from mortgage...
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Xerox Federal Takes New Tack in Wake of Cuts
Kevin Foster-Keddie, president of Xerox Federal Credit Union, has been waiting for the downsizing bomb to drop for a decade. So when Xerox Corp. announced earlier this year it was slashing 10,000 employees worldwide - 10% of its workforce - he wasn't...
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