Articles by tag - auction rate securities

Wells Fargo to Buy Back $1.3 Billion in Auction Rate Security Debt
The North American Securities Administrators Association (NASAA) announced today a settlement with Wells Fargo in which the bank agreed to reimburse $1.3 billion related to the sale of auction rate securities to its clients. That makes it the last of the large banks to put its auction rate security mess behind it.
Posted on November 18, 2009 by
Thought Auction Rate Security Problems Were Over? Not Yet.
A year after the collapse of the auction rate security market, investors are still stuck in an estimated $176 billion of the securities, despite regulators forcing banks to buy back up to $50 billion.
Posted on February 23, 2009 by
SLARS - Student Loan Auction Rate Securities Behing Many ARS Problems
There is a class of auction rate securities - SLARS - that are causing many of the problems in the ARS market. Their auctions have failed and they have low reset rates. The investment banks are going to have to figure out how to bail them out.
Posted on August 19, 2008 by
Auction Rate Securities Mess to End for Clients of Merrill, Citi and UBS
Merrill, UBS and Citibank have all now agreed to repurchase outstanding auction rate securities at par over the next several months.
Posted on August 08, 2008 by
Citibgroup to Help Unfreeze $19.5 Billion of Auction Rate Debt
Citigroup has agreed to a settlement with the NY Attorny General's office that will see it buying back about $7.5 billion in securities from individual customers, charities and small businesses. This is good news for anyone still stuck with illiquid auction rate securities.
Posted on August 07, 2008 by
Wachovia Securities Inspected Over Auction Rate Securities
The auction rate mess is winding down but inquiries are moving forward. Today, Wachovia became the latest bank to be investigated over its auction rate securities practices.
Posted on July 17, 2008 by
Auction Rate Securities Problem Ends As It Began - quietly
Without great fanfare, this problem has begun to wind down.
Posted on July 11, 2008 by
UBS Emails Show Banks Tried to Offload Auction Rate Albatross to Individual Investors
Emails from UBS continue to paint a picture of banks knowingly selling damaged and failing investment products to individual investors in bids to reduce their own exposure.
Posted on June 28, 2008 by
Failure in Auction Rate Security Market and What It Means
The tremors of the housing market and credit credit crisis hit another type of investment this week, the auction rate security market. The Wall Street Journal and several other business magazines have reported auction failures for both Georgetown University and Nevada Power. On the surface, a failure in the $300 billion auction market sounds like a big problem. It most likely isn’t.
Posted on February 14, 2008 by
How to Purchase Auction Rate Securities
Here's what you need to know.
Posted on October 04, 2007 by
Weekly reset securities highly desireable now with yields close to 6%
Auction rate securities are attractive here.
Posted on October 02, 2007 by

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