Il problema con ResCap e' che controlla la Ally Bank che qualifica il gruppo GMAC come gruppo bancario e gli consente l'accesso al TARP.
anche lì c'è poi una banca all'interno del gruppo, e quella certamente non defaulterà, però se CIT Group defaulta e CIT Bank (o come si chiama) non defaulta, verrebbe a riproporsi "paro paro" il modello Lehman, dato che anche lì la banca all'interno del gruppo non è defaultata...
sto ***** ! Per pura curiosita' ho letto la trimestrale al 30 giugno di ResCap e notato una soprendente contrazione sia dell'attivo che del passivo....ebbene nelle passivita' non c'erano piu' i depositi della Ally Bank.
Esclusa dall'area di consolidamento.
Perche' ? Ma perche' e' stata venduta alla GMAC !!!
ResCap SEC Filings pag.17 del pdf del 10Q dello scorso 7 agosto:
Also on January 30, 2009, GMAC and ResCap entered into an agreement and consummated a transaction pursuant to which GMAC acquired 100% of
ResCap’s remaining non-voting common interests in IB Finance, which common interests are attributable to the mortgage finance operations of Ally Bank. In
exchange for ResCap’s interests in IB Finance, GMAC contributed to ResCap 8.500% Senior Secured Guaranteed Notes due 2010 of ResCap that GMAC
had acquired in its December 2008 exchange offer with a face amount of approximately $830.5 million and accrued interest and a carry value of approximately
$894.3 million. ResCap extinguished the $830.5 million face amount of the notes. The forgiveness and extinguishment of the debt resulted in a gain on
extinguishment of $510.9 million and additional consideration for the non-voting interests of $383.4 million. In accordance with SFAS No. 141 as carried
forward in Appendix D of SFAS No. 141(R),
Business Combinations, no gain or loss was recognized upon sale between entities under common control.
In connection with the closing of the transaction, ResCap’s interests in IB Finance were released from the liens securing ResCap’s senior secured credit
facility with GMAC and ResCap’s secured notes. Upon completion of the transaction, IB Finance, including its subsidiary Ally Bank, was deconsolidated by the
Company.
Quindi devo correggermi, ResCap e' perfettamente scaricabile senza che GMAC perda lo status di holding bancaria
Non me ne ero accorto e non ero andato a controllare ...
If CIT is forced into a “free-fall” bankruptcy, unsecured claims may fetch as little as 6 cents on the dollar, said Peek, who plans to leave the company at yearend.
sto ***** ! Per pura curiosita' ho letto la trimestrale al 30 giugno di ResCap e notato una soprendente contrazione sia dell'attivo che del passivo....ebbene nelle passivita' non c'erano piu' i depositi della Ally Bank.
Esclusa dall'area di consolidamento.
Perche' ? Ma perche' e' stata venduta alla GMAC !!!
ResCap SEC Filings pag.17 del pdf del 10Q dello scorso 7 agosto:
Also on January 30, 2009, GMAC and ResCap entered into an agreement and consummated a transaction pursuant to which GMAC acquired 100% of
ResCap’s remaining non-voting common interests in IB Finance, which common interests are attributable to the mortgage finance operations of Ally Bank. In
exchange for ResCap’s interests in IB Finance, GMAC contributed to ResCap 8.500% Senior Secured Guaranteed Notes due 2010 of ResCap that GMAC
had acquired in its December 2008 exchange offer with a face amount of approximately $830.5 million and accrued interest and a carry value of approximately
$894.3 million. ResCap extinguished the $830.5 million face amount of the notes. The forgiveness and extinguishment of the debt resulted in a gain on
extinguishment of $510.9 million and additional consideration for the non-voting interests of $383.4 million. In accordance with SFAS No. 141 as carried
forward in Appendix D of SFAS No. 141(R),
Business Combinations, no gain or loss was recognized upon sale between entities under common control.
In connection with the closing of the transaction, ResCap’s interests in IB Finance were released from the liens securing ResCap’s senior secured credit
facility with GMAC and ResCap’s secured notes. Upon completion of the transaction, IB Finance, including its subsidiary Ally Bank, was deconsolidated by the
Company.
Quindi devo correggermi, ResCap e' perfettamente scaricabile senza che GMAC perda lo status di holding bancaria
