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Entries Tagged ‘Accounting Standards Board’

Deutsche Bank was supposed to report a loss in the third quarter.

But the Frankfurt giant managed to turn a third-quarter profit of $575 million, and that’s because it took advantage of a new European Union accounting change.
Deutsche Bank was able to shift 825 million euros, or roughly $1.1 billion, in assets before tax to its loan bank from its trading book — meaning that it doesn’t [...]

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Highlights of $700B Financial Markets Bailout Plan

WASHINGTON (Dow Jones)–Here are highlights of the “Emergency Economic
Stablization Act” of 2008:
-ASSET PURCHASES: The Treasury Department could purchase up to $700 billion in
troubled mortgages and other assets through a “Troubled Asset Relief Program” or
“TARP.” The $700 billion would be available in phases. The first $250 billion
will be immediately available to the Treasury secretary. The next [...]

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