What was the name of the bank that went under in October 2008?

UniCredit of Italy was reported to be the latest bank to come under pressure. During the night of October 2 Greece followed Ireland’s lead and guaranteed all bank deposits. On October 3 it was reported that Wachovia had rejected the previous offer from Citigroup in favor of acquisition by Wells Fargo, resulting in a legal dispute with Citigroup.

What was the stock market like in October 2008?

All trade was also suspended on the Iceland Stock Exchange until Monday October 13. On Thursday, October 9, the one-year anniversary of the Dow ‘s peak, the cost of short term credit rose while there were heavy losses in the United States stock market; the Dow dropped below 8600, reaching a five-year low.

What was the interest rate cut in October 2008?

On Wednesday, October 8, the European Central Bank, Bank of England, Federal Reserve, Bank of Canada, Swedish Riksbank and Swiss National Bank all announced simultaneous cuts of 0.5% to their base rates at 11:00 UTC. Shortly afterwards, the Central Bank of the People’s Republic of China also cut interest rates.

What was the amount loaned to AIG in October 2008?

On October 8 the Federal Reserve loaned AIG $37.8 billion, in addition to the previous loan of $85 billion. On Wednesday night, October 8, the Central Bank of Iceland abandoned its attempt to peg the Icelandic króna at 131 króna to the euro after trying to set this peg on Monday, October 6.

Who is the MD of the monetary authority of Singapore?

At the “Growing Timber” MAS-IBF Webinar Series, Mr Ravi Menon, MD, MAS, spoke on job opportunities in financial services, and job specialisation, specifically in the area of technology, based on a deep dive study MAS has done.

Is the money market in Singapore functioning normally?

Singapore Dollar money market and foreign exchange market are functioning normally in the face of heightened volatility. MAS stands ready to ensure the orderly functioning of financial markets and the stability of the financial system in Singapore.

When did the Singapore sovereign wealth fund start?

Type Sovereign wealth fund Industry Fund management Founded 22 May 1981; 39 years ago ( 1981-05-22) Founder Government of Singapore Headquarters Singapore

What are the returns of GIC in Singapore?

In USD nominal terms, GIC achieved an annualised return of 5.1%, 4.3% and 5.7% for the 5-year, 10-year and 20-year time periods respectively. The funds managed by GIC are owned by the Singapore Government. Its investment returns supplement the country’s annual budget in areas such as education, R&D, health care and physical environment.