Argentina Pockets $35 Billion Windfall After Accounting Change [Yahoo! Finance News]
The Bank of New York Mellon Corporation (BK)
Last the bank of new york mellon corporation earnings: 4/16 06:30 am
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Source: Yahoo! Finance News
) -- Argentina may be in deep financial trouble but its central bank is comfortably back in the black -- thanks to a small accounting maneuver. A little-noticed decision by policy makers late last year to change the way they value government bond holdings transformed the central bank’s balance sheet overnight, turning what had been a net worth of negative $2 billion into positive $33 billion. Officials have made little effort to explain the move -- they just say it’s part of a wide-ranging emergency law to shore up the economy -- but analysts note how it will pave the way for the bank to start turning over dividends to the cash-strapped government. “Today it’s lying about its profits in order to print money, finance the government and make itself even more insolvent,” said Aldo Abram, economist at Buenos Aires-based Libertad y Progreso, a research center that advocates for free markets. These sorts of payments are commonplace in many parts of the world -- including in Argentina, where
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News
- Burford Seeks Argentina's YPF Stake to Pay $16 Billion Award [BNN Bloomberg (Canada)]BNN Bloomberg
- Burford Seeks Argentina's YPF Stake to Pay $16 Billion Award [Yahoo! Finance]Yahoo! Finance
- FRN Variable Rate Fix [Yahoo! Finance]Yahoo! Finance
- Early Repurchase(s) [Yahoo! Finance]Yahoo! Finance
- The Bank of New York Mellon Co. (NYSE: BK) had its price target raised by analysts at Morgan Stanley from $62.00 to $63.00. They now have an "equal weight" rating on the stock.MarketBeat
BK
Earnings
- 4/16/24 - Beat
BK
Sec Filings
- 4/22/24 - Form 4
- 4/19/24 - Form 4
- 4/19/24 - Form 4
- BK's page on the SEC website