
Well, it's money for the SF-based parent, UnionBanCal Corp., which was sold last year to Mitsubishi Financial Group. UnionBanCal (what a name!) gets a $2-billion infusion, which was called "voluntary and pre- emptive" and apparently is based on scenarios used for stress tests of the nation's biggest banks. Union Bank, which has had numerous ownership iterations over the years, is the state's third-largest bank by assets - and has a big presence in Socal.(Bloomberg)
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