Central Pacific Bank to leave California market

Bank of America posts $2.4 billion profit
Bank of America became the third big bank with better than expected earnings, reporting a $2.42 billion second-quarter profit even as losses from failed loans continued to rise.

Aozora and Shinsei Banks in Japan Plan to Merge
the two banks said they would merge next year in a bid to recoup large losses on risky investments overseas and bad loans at home.

I.M.F. Puts Bank Losses From Crisis at $4.1 Trillion
The fund now estimates that financial institutions will have to write down $2.7 trillion in loans and securities originating in the United States from 2007 to 2010.

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