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| Topic: |
Business
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| Number of pages / Number of words: |
5 / 1249 |
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CenTrust reported a $119.5 million loss for its fiscal year ended Sept. 30, 1989, after writing down a ton of junk and reserving for losses. Under thrift rules, CenTrust needs about $130 million of equity capital but currently has an equity shortage of $283 million.
After all this happen, CenTrust planned to sell most of its branches to raise capital and create a separate unit to hold its junk until maturity to avoid turning accounting losses on bonds real losses...
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30, 1989, after writing down a ton of junk and reserving for losses. Under thrift rules, CenTrust needs about $130 million of equity capital but currently has an equity shortage of $283 million.
After all this happen, CenTrust planned to sell most of its branches to raise capital and create a separate unit to hold its junk until maturity to avoid turning accounting losses on bonds real losses...
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