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Bank household loans rebound in February

SEOUL, March 12 (Yonhap) -- Household loans extended by South Korean banks rebounded in February as mortgage lending picked up amid government measures to revive the housing market, the central bank said Wednesday. Outstanding household loans by local banks, including home-backed and credit loans, reached 479.7 trillion won (US$448.7 billion) as of end-February, up 1.9 trillion won from the previous month, according to the Bank of Korea (BOK). The February figure compared with a 2.6 trillion won on-month decline in January, it added.

Household loans log first fall in 11 months in Jan.

SEOUL, March 11 (Yonhap) -- Household loans extended by South Korean financial institutions declined for the first time in 11 months in January as mortgage and credit loans fell, the central bank said Tuesday. Outstanding household lending by local banks and non-bank institutions totaled 685.2 trillion won (US$642.5 billion) as of end-January, down 2 trillion won from the previous month, according to the Bank of Korea (BOK). Such lending declined for the first time since February last year when household loans fell by 1.8 trillion won.

Household loans log first fall in 11 months in Jan.

SEOUL, March 11 (Yonhap) -- Household loans extended by South Korean financial institutions declined for the first time in 11 months in January as mortgage and credit loans fell, the central bank said Tuesday. Outstanding household lending by local banks and non-bank institutions totaled 685.2 trillion won (US$642.5 billion) as of end-January, down 2 trillion won from the previous month, according to the Bank of Korea (BOK). Such lending declined for the first time since February last year when household loans fell by 1.8 trillion won.

China bank lending halves in February from January

China's bank lending halved in February from January, the government said Monday, amid worries over a near-default on a financial product structured by the risky trust sector. Domestic banks extended 644.5 billion yuan ($105.0 billion) in new loans last month, up 24.5 billion yuan from the same month last year, the central bank said in a statement. The February lending figure fell short of a median forecast of 740 billion yuan, according to a poll of economists by Dow Jones Newswires.

Foreigners sell Korean stocks for 4th straight month

SEOUL, March 7 (Yonhap) -- Foreigners continued to sell off South Korean stocks in February, extending the spree to the fourth consecutive month as concerns over the U.S. Federal Reserve's stimulus tapering reduced appetite for risky assets in emerging markets and weaker-than-expected data from major economies sapped their sentiment as well, the financial watchdog said Friday.

PNC Financial gets DOJ subpoena over payment processors

(Reuters) - PNC Financial Services Group Inc <PNC.N> said it had received a subpoena from the U.S. Department of Justice seeking information about its relationship with certain merchant and payment processor customers. The subpoena is related to the return rate for customers with whom PNC has a depository relationship, the company said in a regulatory filing on Monday.

Investor Fairholme wants governance actions at Fannie, Freddie

(Reuters) - Fairholme Capital Management has sent letters to the boards of U.S. government-controlled Fannie Mae <FNMA.OB> and Freddie Mac <FMCC.OB> seeking corporate governance actions, in a push to let investors have a bigger say in how the companies are run. Fairholme, founded by fund manager Bruce Berkowitz, wants the mortgage companies to stop borrowing funds to pay dividends to the U.S. government, preserve its non-cash assets and establish procedures to address conflicts.

Societe Generale to pay $122 million to resolve U.S. mortgage lawsuit

By Nate Raymond and Jonathan Stempel NEW YORK (Reuters) - Societe Generale has agreed to pay $122 million to settle a lawsuit by a U.S. regulator accusing the bank of misleading Fannie Mae and Freddie Mac in the purchase of mortgage-backed securities. The settlement, announced by the Federal Housing Finance Agency (FHFA) on Thursday, marked the eighth to date by the FHFA, which in 2011 filed 18 lawsuits over some $200 billion in mortgage-backed securities that were at the heart of the 2008 financial crisis.

Freddie Mac reimburses US bailout on huge profit jump

Freddie Mac Thursday said its payments to the US Treasury have exceeded its 2008 US bailout funds as the US mortgage-finance giant notched a huge jump in earnings. But Freddie signaled that its meteoric earnings growth, a more than four-fold increase annually, is "not sustainable" long term, in part because of slowing home price gains.

Freddie Mac posts record profit, to surpass $71.3 billion bailout

WASHINGTON (Reuters) - Freddie Mac <FMCC.OB> said on Thursday it will soon send the U.S. Treasury a $10.4 billion dividend after posting a ninth straight quarterly profit, putting taxpayers further into the black on their bailout of the mortgage giant. When it makes the payment next month, Freddie Mac will have paid about $81.8 billion in dividends, more than the $71.3 billion it received from the Treasury when it was bailed out during the financial crisis.
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