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October 19, 2012
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Daily news for the equipment finance sector

  Industry News 
  • Index of economic indicators returns to positive territory
    Sustained improvement in the housing market is one big factor behind September's 0.6% increase of The Conference Board's index of leading economic indicators. Meanwhile, August's result was revised downward to a 0.4% decline. The index "has been signaling an economy that is fluctuating around a slow growth trend," said Ataman Ozyildirim, a Conference Board economist. Bloomberg Businessweek (10/18) LinkedInFacebookTwitterEmail this Story
  • Foreign ECAs might be tapped as European energy lending dwindles
    Foreign export-credit agencies will have to fill a shortfall in commercial lending for Middle Eastern and North African companies investing in energy projects. Commercial lending by European banks for such projects is at a nine-year low of $13 billion, according to Arab Petroleum Investments. Bloomberg (10/18) LinkedInFacebookTwitterEmail this Story
  • Micro-lenders give small businesses more funding options
    Big banks might be loosening their purse strings and engaging more in business lending, but those that employ fewer than 10 people and have annual revenue of less than $500,000 are unlikely to secure a loan. Small businesses should instead look to micro-lenders, nonprofit organizations that often receive money from the Small Business Administration, the government or philanthropic organizations, to spur growth. Fox Business Small Business Center (10/16) LinkedInFacebookTwitterEmail this Story
  Market Trends 
  • "Fiscal cliff" could trigger recession, 15 CEOs warn
    The chief executives of 15 of the biggest U.S. financial companies warned in a letter to President Barack Obama and Congress that failure to head off the "fiscal cliff" could lead to a sharp rise in interest rates, a downgrade of America's credit rating and a recession. JPMorgan Chase CEO Jamie Dimon said he will "do whatever it takes" to persuade Congress to find a way to prevent massive spending cuts and tax increases from automatically taking effect at the beginning of next year. The Washington Post (10/18), Market News International (10/18), The Hill/On the Money blog (10/18) LinkedInFacebookTwitterEmail this Story
  Government & Regulatory 
  • U.S. derivatives rules might be deterring Asian banks
    Stiffer derivatives-trading rules proposed in the U.S. might be scaring off Asian banks, market participants said. "We have heard there are institutions that, if they have a choice of doing business with a U.S. or European counterpart or Asian counterparty, they are looking more at the Asian and European counterparties than the Americans," said Robert Pickel, CEO of the International Swaps and Derivatives Association. The Wall Street Journal (10/18) LinkedInFacebookTwitterEmail this Story
  • EU moves toward handing eurozone banking supervision to ECB
    Herman Van Rompuy, president of the European Council, said EU national leaders agreed to adopt a legal framework by year-end to shift eurozone banking supervision to the European Central Bank. "Once this is agreed, the single supervisory mechanism could probably be effectively operational in the course of 2013," he said. However, leaders failed to agree on when the €500 billion European Stability Mechanism can begin helping troubled banks. Reuters (10/19), Bloomberg (10/19), Financial Times (tiered subscription model) (10/19) LinkedInFacebookTwitterEmail this Story
  • TARP auction for 11 banks is scheduled next week
    Shares of 11 banks still in the Troubled Asset Relief Program will be auctioned off by the Treasury Department beginning Monday, officials said. Banks involved are Blue Ridge Bancshares, First Gothenburg Bancshares, Blackhawk Bancorp, Germantown Capital, CenterBank, Oak Ridge Financial Services, Congaree Bancshares, Metro City Bank, Peoples Bancshares of TN, The Little Bank and HomeTown Bankshares. (free registration) (10/18) LinkedInFacebookTwitterEmail this Story
  ELFA Member News 
  ELFA News 
  • Attention, annual convention attendees: Upload your photo to the attendee list
    New this year! Photos have been added to the full list of attendees for the ELFA 51st Annual Convention. You can add a photo to your ELFA profile easily. Log in to the ELFA website with your username and password, then click on "Account Tools." Upload a photo by clicking on "Add/Edit Photo." LinkedInFacebookTwitterEmail this Story
  • Be your best from your desk: 50% discount on ELFA Academy online courses!
    Learning has never been easier or more affordable! Sign up for Fundamentals of Equipment Leasing and Finance, Financial Statement Analysis OR Should You Do the Deal: Case Studies in Equipment Leasing and Finance and receive half-off registration!

    Visit the ELFA Academy. To receive the discount on the Fundamentals course, enter discount code ELFAPROMO11. To receive the discount on the Financial Statement Analysis or the Should You Do the Deal course, enter discount code ELFACREDIT.

    For questions, contact Alexa Carnibella at or (202) 238-3416. LinkedInFacebookTwitterEmail this Story
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--J.R.R. Tolkien,
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