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Strategies & Market Trends : Waiting for the big Kahuna

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To: GROUND ZERO™ who wrote (91002)	10/30/2009 1:20:52 PM
From: fred woodall	Read Replies (1) of 94695

I agree 1040 vol. Shorts aren't bothering to cover here. Volume on such a down turn and they're asleep. I ain't buying it. Don't worry however our gov. is coming to the rescue. US Regulators Urge Banks Help On Commercial Realty -------------------------------------------------------------------------------- Fri Oct 30 13:16:00 2009 EDT (Updates with details from the statement, adds background.) By Michael R. Crittenden and Jeff Bater Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--U.S. banking regulators are urging banks to work with commercial borrowers to modify their real estate loans, wary of the damaging effect a high level of defaults could have on bank balance sheets. The Federal Financial Institutions Examination Council, which includes the Federal Reserve, Federal Deposit Insurance Corp. and others, said that prudent modifications to commercial real estate loans are frequently "in the best interest" of both banks and their borrowers. Regulators, in a significant step, also said they won't penalize banks for performing loans where the value of the underlying property is now worth less than the loan balance. "Financial institutions that implement prudent [commercial real estate] loan workout arrangements after performing a comprehensive review of a borrower's financial condition will not be subject to criticism for engaging in these efforts," the agencies said in a policy statement. The guidance comes as commercial real estate woes continue to cause headaches for regulators and financial firms. Slower to develop than the significant dislocation in the residential housing market, commercial real estate has shown increasing weakness in recent quarters. The FDIC, in its most recent quarterly analysis of the banking industry, said that real estate construction and development loans at least 90 days past due were up 16.6% in the second quarter.

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