Goldman stabs at banks' commercial paper power

Article Abstract:

Goldman Sachs has sold over over $78 billion in extendible commercial notes (ECNs) since they created them in 1998. ECNs are sold with an initial maturity of 90 days, but payment can be extended for another 300 days with an interest penalty.

Securities Dealers, Investment Banking and Securities Dealing, Security brokers and dealers, Statistical Data Included, Management, Investment banks, Securities industry, Goldman Sachs and Co., Illustration, Commercial paper, Commercial paper (Financial instruments)

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The new Bible on options expensing: the FASB "suggests" a move to binomial from Black-Schokes, so prepare to move

Article Abstract:

The Financial Accounting Standards Board (FASB) has issued a set of proposed regulations that would require stock option expensing by 2005. The proposal also encourages companies to shift from the Black-Scholes formula, to a different, and much more complicated binomial method of valuing employee stock options.

Forecasts, trends, outlooks, Capital funds & cash flow, Forecasts and trends, Market trend/market analysis, Powers and duties, Valuation, Employee stock options, Financial Accounting Standards Board

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Fewer faucets but a lot more pipes: as banks merge, loan syndicates find new flows of money from non-banks

Article Abstract:

A number of big banks are expected to reduce, as merger plans already announced between Bank of America and FleetBoston Financial, and J.P. Morgan Chase and Bank One, as well as additional merger are in planning stage. The trend of decline in the number of banks has shown a new capital surge into credit markets from institutional investors, including insurance companies, hedge funds, collateralized debt obligation (CDO) funds and prime rate funds.

Commercial Banks, Acquisitions & mergers, Banking industry, Analysis, Mergers, acquisitions and divestments, Company acquisition/merger, Syndicated loans

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