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. 150, August 28

Argentina, Banks Sign New Accord after Short Delay
NEW YORK -- Argentina and its commercial bank creditors Tuesday signed agreements that restructure more than $13 billion in debt and provide the South American nation with more than $4 billion in fresh funds. But for a while, it looked as if Argentina's...
Chemical Loan Aids Pantry Pride's Bid to Acquire Revlon
CHICAGO -- Pantry Pride Inc.'s bid to take over Revlon Inc. will be financed in part by a $500 million secured loan from Chemical Bank. In its offering circular, Pantry Pride states that loans under the agreement will bear interest at the greater...
Chicago Firm Offers Smaller Wire Transfer System
NEW YORK -- Network Consultants Inc., a Chicago-based software house being acquired by a subisdiary of MCorp, has developed a funds transfer system for banks that initiate between 400 and 1,000 wires a day. The product, called MoneyNet II, is a...
Citicorp to Venture into Manufacturing Lines
NEW YORK -- Citicorp's expansion into nonbanking businesses will now take it into the world of aluminum extrusions and precision and semi-precision metal balls. Aluminum-extruded product, such as luggage racks, and metal balls for the automotive...
Crocker to Pay $2.25 Million Fine for Failing to Report Transactions
WASHINGTON -- Crocker National Bank will pay a record $2.25 million penalty for failing to report nearly $4 billion in currency transactions. The Treasury Department said Tuesday that the San Francisco bank was found since 1980 to have more than...
Financial Women's Association Internships Introduce College Students to Business World: Students Trade Summer Tans for Impressive Experience in New York's Financial Arena
Regina Raphael was living 10 minutes from a beach near Tel Aviv when a message came to call home. "You're working at Citibank," her mother informed her, "and you're selling computers." So the Wellesley College junior packed her bags and headed...
France Pays 10% of $4 Billion Loan, Renegotiates Rates on the Balance
PARIS -- France has made an early repayment of 10% of a $4 billion loan raised in the international money markets in 1982 and has renegotiated interest rates and commission charges on the balance, French finance minister Pierre Beregovoy announced....
Most Banks' Credit Card Results Improve, Fed Survey Shows
Partly because losses from dead-beats and fraud were down, credit card business improved last year among all but the smallest banks that participate in the functional cost analysts of the Federal Reserve System. As a percentage of credit card volume,...
SEC Approves Dealer's Plan for Municipal Bond Exchange
WASHINGTON -- The sponsor of a proposed electronic exchange for secondary market trading of municipal bonds received permission from the Securities and Exchange Commission to proceed with the novel project. Robert L Adler & Co., a municipal...
Securities Owners Sue First National Bank of Maryland
NEW YORK -- A $210 million class action suit filled in Baltimore circuit court has charged First National Bank of Maryland with dealing customers' securities for its own profit without their knowledge. The suit accuses First Maryland, the second-largest...
Standby Letters of Credit Jump 25% in 1984: 100 Top Issuers Raise Their Yearend Total to $132 Billion amid Growing Concern over Safety
CHICAGO -- Standby letters of credit increased to $132 billion last year at the nation's top 100 banks -- up nearly 25% -- making them one of the fastest growing items on or off a bank's balance sheet, according to data compiled by the American Banker....
Suspicions of Unfair Competition Fuel US-Japan 'Chip Wars.'
AFTER STEEL AND autos, are "chips" next? Chips are the semiconductors that are the guts of computers and other electronic products. American chip makers say they're discriminated againist in Japan -- the Japanese firms buy only form each other. ...
The Sales Training Function Should Report to Marketing
BANKERS LIKE things organized in very tidy, nicely defined packages. Once they get something down on paper, they hate to change it. for years, bankers referred to marketing as "public relations," and retail banking was known as installment lending....