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双语阅读:巴菲特勒令子公司退出存款保险业务

(2008-09-11 11:59:26)
标签:

华尔街日报

巴菲特

财经

分类: 它山之石

伦•巴菲特(Warren Buffett)的Berkshire Hathaway Inc.已经要求旗下一家子公司停止为超过联邦政府担保限制的银行存款提供保险;对目前想方设法安抚客户紧张情绪的金融服务行业来说,这一消息不啻为一记新的打击。

这家子公司Kansas Bankers Surety Co.已经通知30多个州的大约1,500家银行,其将不再提供“银行存款担保债券”项目。根据Berkshire Hathaway 2007年度报告,KBS为其旗下子公司,仅有18名雇员。KBS是诸多提供此类保险的公司之一。而此类保险则是银行试图吸引富有客户的一大卖点。

两位知情人士表示,Berkshire Hathaway首席执行长巴菲特周一下达了这一指令。KBS资深副总裁查克•陶勒(Chuck Towle)拒绝对公司撤出这一业务的原因置评。他表示,我们已经决定这么做,我们将与各家银行协作制定举措。

陶勒没有证实或否认巴菲特介入此事,称这完全是谣言。巴菲特拒绝对此发表评论。

今年以来,已经有11家银行倒闭。自7月11日以来,更是有7家银行破产,其密集程度为1980年代末和1990年代初的存贷款危机以来所未见。美国联邦存款保险公司(FDIC)为大多数帐户提供最高10万美元的保险,对于部分退休帐户,这一上限提高到25万美元。

巴菲特决定撤出这一保险市场的举动表明,太多业内人士对银行的破产前景感到担忧。

某些情况下,收购破产银行的公司会购买所有的存款,使得政府保险上限形同虚设。

但如果收购银行不愿接手额外存款的话,持有大笔存款的客户就可能会遭受损失。FDIC表示,堪萨斯州Columbian Bank & Trust Co.今年8月22日倒闭时,该银行总计有大约610个帐户的4,600万美元存款可能超过政府保险限制。

知情人士称,KBS为这家银行的部分存款提供了保险,并因该银行破产而遭受了损失。陶勒拒绝透露该银行是否为公司客户。

KBS竞争对手BancInsure Inc.的首席执行长沙展(Rodney Sargent)表示,预计许多公司会争夺KBS的客户,因为该公司在全美拥有广阔的业务网络。

Damian Paletta

 

Berkshire Reins In Its Deposit Insurer

双语阅读:巴菲特勒令子公司退出存款保险业务 | | |
2008年09月10日15:35
Warren Buffett's Berkshire Hathaway Inc. has told one of its subsidiaries to stop insuring bank deposits above the amount guaranteed by the federal government, dealing a fresh blow to the financial-services industry as it tries to assuage anxious customers.

The subsidiary, Kansas Bankers Surety Co., is notifying about 1,500 banks in more than 30 states that it will no longer offer a program called 'bank deposit guaranty bonds.' KBS is an 18-employee subsidiary of Berkshire Hathaway, according to the parent firm's 2007 annual report. It is one of a handful of firms that offer such insurance, a big selling point for banks trying to attract wealthy customers.

Two people briefed on the matter said the order was made Monday by Mr. Buffett, Berkshire Hathaway's chief executive. Chuck Towle, a senior vice president at KBS, declined to comment on why his firm was leaving the business. 'We have decided to do so,' he said. 'We'll work with each individual bank and work it out with them.'

Mr. Towle wouldn't confirm or deny Mr. Buffett's involvement, calling it 'strictly rumor.' Mr. Buffett declined to comment.

Eleven banks have failed this year. Seven have fallen since July 11, a concentration not seen since the savings-and-loan crisis of the late 1980s and early 1990s. The Federal Deposit Insurance Corp. backs deposits of as much as $100,000 on most accounts or $250,000 on some retirement accounts.

That Mr. Buffett is withdrawing from this insurance market is an indicator of how many in the industry are worried about future bank failures.

In some cases, companies that acquire failed banks will buy all the deposits, making the government insurance limits irrelevant.

But customers with large deposits can lose money if the acquiring bank doesn't take on the extra deposits. When Columbian Bank & Trust Co., of Topeka, Kan., failed Aug. 22, there were about 610 accounts with $46 million total that potentially exceeded government insurance limits, the FDIC said.

KBS insured some deposits at this bank and lost money in the failure, people familiar with the matter said. Mr. Towle declined to comment on whether the bank was a customer.

Rodney Sargent, CEO of BancInsure Inc., a KBS competitor, said many firms are expected to compete for KBS's customers because the company has a large network across the country.

Damian Paletta

                                                        

                                                  华尔街日报

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