Новости

Moody’s downgrades ratings of 16 Spanish banks

The international rating agency Moody’s has downgraded rating of 16 Spanish banks, including the largest of them - Banco Santander S.A. Together with the credibility (debt) ratings, the agency also downgraded their deposit ratings.

Facebook gone public

Facebook holds an IPO at the price of $38 per share (this time it is certain), which will let the company to raise at least $16 billion.

JPMorgan Chase sued by shareholders

Shareholders of one of the largest global banks - JPMorgan Chase – have filed a suit against it. Plaintiffs claim that $2 billion losses discovered during the course of trading operations by the bank indicate that JPMorgan Chase actually misled its shareholders in respect to real riskiness of operations it was engaged in.

Greece’s rating lowered to CCC – Fitch

The international rating agency Fitch Ratings has downgraded long-term sovereign rating for Greece from B- to CCC. Short-term rating was downgraded as well, from b to B. On all of that the agency informed in the press release it published today.

Coalition issues guidelines for public pensions

A coalition of bond lawyers, analysts, auditors, state treasurers, pension administrators, securities professionals, bond dealers and issuers released on Thursday a framework for describing financial strains on state and local governments caused by pension funding obligations.

IASB concludes the 2009-2011 Annual Improvements cycle

The IASB issued “Annual Improvements 2009-2011 cycle”, a collection of amendments to IFRSs, in response to issues addressed during the 2009–2011 cycle. Five standards are primarily affected by the amendments, with consequential amendments to numerous others.

Companies under government control will be able to acquire private firms only if it is approved by the prime minister

The Ministry for Economic Development of Russia has prepared a first draft of the law to restrict state companies’ ability to purchase assets. The main restricting factor should be the White House veto: without direct permission of the government of Russia no transaction dealing with private company’s acquisition will be seen as legal.

Auditors in Russia will be forced to “blow their whistles”

Starting from the next year auditors in Russia will have much more work to do as the finance ministry wants them to inform on any falsification of their clients’ accountancy, if discovered in records. Corresponding amendments to the law on auditing in Russia have been prepared recently.

New GASB User Guide to School Districts’ Finances Helps Taxpayers Find Answers to Many Questions

How can taxpayers follow how their money is being spent on public education? What is the difference between a school district’s budget and its financial statements? How can you determine if your school district’s financial health is improving or declining? What assets does your school district own, and how much does it owe?

IOSCO Prepares for the Regulatory and Financial Challenges Ahead

The International Organization of Securities Commissions (IOSCO) opens its Annual Conference public sessions today focusing on the themes of a new financial architecture for the post-crisis era, financial market infrastructures and market integrity, capital markets development in emerging markets, and regulation of commodity futures and financial derivatives.