| (AFX UK Focus) 2008-03-26 08:52 GMT: Taiwan central bank drains 60.20 bln twd via 2.04/2.13/2.23 pct NCDs
TAIPEI (XFN-ASIA) - The central bank said it drained a combined 60.20 bln twd from the money market via offers of negotiable certificates of deposit, including 51.40 bln twd via 30-day NCDs at a fixed rate of 2.04 pct. The bank also drained 7.80 bln twd via an offer of 91-day NCDs at 2.13 pct and 1.0 bln twd via 182-day NCDs at 2.23 pct, it said. At 4.00 pm, the average overnight interbank rate was quoted at 2.090 pct, compared with the previous close of 2.082 pct, dealers said. (1 usd = 30.0 twd) philip.wang@afxasia.com - xfnpw/xfnrc COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
Some Canadian investors want ABCP money now
Some retail investors in Canada are balking at the terms of a court-approved plan to restructure $32 billion worth of asset-backed commercial paper. Tata takes driver's seat at Jaguar, Land Rover 00 India's Tata Motors agreed Wednesday to buy Jaguar and Land Rover from Ford Motor Co. for $2.3 billion US, less a pension adjustment that could run to $600 million. Shareholders back Thomson takeover of Reuters 00 The owners of information company Thomson Corp. voted Wednesday to go ahead with the $17-billion purchase of financial news and data company Reuters Group PLC. Reuters shareholders also approved the deal. .
Mortgage market gets back to basics
To buy a house in today�s market, the new ways of borrowing are out, and the old ways are back in. �The mortgage business swings like a pendulum,� said Elaine Shepperd, Cornerstone Mortgage Co. branch manager in Temple. �The government is tightening down on all the lenders.� Caren Hildinger, a certified mortgage planning specialist in Temple, agrees with the pendulum analogy. �We�re getting back to the basics of prudent underwriting,� Ms. Hildinger said. �The guidelines have been so lenient some people were getting mortgages that didn�t need to be getting them. And now the industry has paid for that. The type of business you did a year ago, you can�t do now.� Mortgage professionals point to three specific changes in home lending guidelines they say are necessary corrections that get back to the basics: lNo more borrowing with little or no money down lGood credit scores necessary lNo more 100 percent financing Although myriad circumstances can attribute to someone losing their home, Bell County foreclosures suggest the need for more stringent lending requirements.
|
