Ambac will seek to raise capital through a $1 billion common stock offering, plus a $500 million public offering of equity units.
Republicans plan to introduce a bill that would make compliance with some provisions of Sarbanes-Oxley voluntary for banks.
The most significant increases in filings for the first two months of 2008 occurred in California, Maryland and Florida.
Pay tax on such financial products, even though no payoff from such investments is assured, would unfairly limit trade of the financial products, according to the group.
Federal Deposit Insurance Corporation chairperson Sheila Bair said most financial institutions remain well capitalized.
Manufacturing reports were down across the board with only St. Louis reporting a pickup in activity.
Financial services have eliminated 22,056 jobs since New Year’s, according to Challenger Gray & Christmas.
The American Bankers Insurance Association has elected three financial services industry leaders to serve as new board of directors.
Hedge fund assets grew by only 10% in the second half of the year, marking the smallest half-year increase since 2002.
Financial services and mortgage companies must do more to reduce preventable home foreclosures, Fed chief Ben S. Bernanke said.
