Friday, May 24 2013 5:47 PM EDT2013-05-24 21:47:05 GMT
Biomedical Research Foundation has decided to move forward with a plan to operate and manage LSU Hospitals in Shreveport and other cities in Louisiana. On Friday the board voted to approve what's calledMore >>
Biomedical Research Foundation has decided to move forward with a plan to operate and manage LSU Hospitals in Shreveport and Monroe, Louisiana.More >>
Friday, May 24 2013 12:06 PM EDT2013-05-24 16:06:20 GMT
NEW YORK (CNN) - It's seen as the official start of summer, but it appears most people will be spending Memorial Day close to home. Triple A expects the volume of travel this holiday weekend to drop byMore >>
It's seen as the official start of summer, but it appears most people will be spending Memorial Day close to home.More >>
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SOURCE Ally Financial
DETROIT, March 7, 2013 /PRNewswire/ -- Ally Financial believes that the Federal Reserve's analysis of Ally's capital adequacy for the Dodd-Frank Act Stress Test (DFAST) is fundamentally flawed and, while the Fed has not provided details, the analysis is inconsistent with historical experience in the most stressed periods in our business.
While Ally appreciates the Fed's role in ensuring that financial institutions have adequate capital during stressed situations, using flawed assumptions could have lasting adverse impacts on the economy, including ultimately causing banks to reduce certain key lending categories. For example, Ally believes the loss rates assumed for the automotive finance business are implausible, even in dire economic situations. The auto finance sector, in fact, has historically been one of the best performing asset classes during economic downturns.
Regardless of the DFAST results, Ally continues to have strong capital levels and ample liquidity to support its automotive finance operations. In addition, Ally Bank continues to be a well-capitalized bank with a leading position in the market.
Moreover, if the Fed has significant concerns about Ally's capital adequacy, it can immediately initiate a conversion of approximately $5.9 billion of existing capital that can be fully converted into Tier 1 common equity at their discretion.
Dan Sligh and his wife were in their pickup truck on Interstate 5 heading to a camping trip when a bridge before them disappeared in a "big puff of dust."More >>
Federal officials were searching the country for a possible temporary replacement for a bridge that collapsed along the crucial Interstate 5 corridor, but Washington Gov. Jay Inslee cautioned Friday that major disruptions...More >>
Friday, May 24 2013 10:40 AM EDT2013-05-24 14:40:11 GMT
(CNN) – Nearly 115,000 federal workers will get a four-day weekend, but it's not reason to celebrate. The employees have to take furlough days thanks to the forced spending cuts that kicked in March 1. TheMore >>
Nearly 115,000 federal workers will get a four-day weekend, but it's not reason to celebrate.More >>
Friday, May 24 2013 9:54 AM EDT2013-05-24 13:54:54 GMT
(POOL/CNN) – George Zimmerman's attorneys have released new evidence taken from Trayvon Martin's cell phone. His attorneys said the data paints a different picture of the 17-year-old Martin than what hisMore >>
George Zimmerman's attorneys have released new evidence taken from Trayvon Martin's cell phone.More >>