Banca Privada d’Andorra is insolvent after all, regulators admitted. It will be resolved by putting its money-laundering assets into bankruptcy in what is called a bad bank, while the more sound assets are used to set up a new bank to carry on banking operations.
The deposit flight from banks in Greece last month was around €8 billion, reducing the nation’s bank deposits to the lowest in 10 years. That the banking system survived that degree of turmoil is a hopeful sign that the worst troubles there may have already happened.
Bank of America could be 25 percent more profitable if split into smaller companies, analysts believe.
Deutsche Bank revealed a plan to become more like a Wall Street bank, with fewer deposits and branches and more emphasis on its large institutional and international operations. The plan has received some political support.
