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As the U.S. prepares to sell more than $2 trillion in debt this year, the Federal Reserve Bank of New York is holding talks with several firms which would help underwrite government debt instruments for sale in auctions, according to a report.

The lawmakers of House Financial Service Committee on Wednesday are holding a hearing with chief executive officers of eight banks that received injections of capital from the government's Troubled Asset Relief Program.

Merrill Lynch & Co. is reported to have given out a combined $121 million bonuses to the four top executives just before the firm was acquired by Bank of America Corp., according to New York Attorney General Andrew Cuomo.

On Tuesday the co-head of UK corporate broking firm, Merrill Lynch, announced his resignation with effect from end of April.

Shares of Bank of America Corp., the largest U.S. bank, declined sharply to their lowest level since 1984 on Thursday in New York trading on concern that the bank does not have enough capital even with a $138 billion bailout package.

Shares of Bank of America Corp., the largest U.S. bank, declined sharply to their lowest level since 1984 on Thursday in New York trading on concern that the bank does not have enough capital even with a $138 billion bailout package.

New York attorney general Andrew Cuomo may demand the return of the $4 billion paid in bonuses by Merrill Lynch & Co. to its executives in December, Bloomberg reported quoting an anonymous source.

Bank of America is planning to defer 2008 bonus payments to some staff at its capital-markets and investment banking units, the Financial Times reported quoting executives familiar with the matter.

New York's attorney general Andrew Cuomo on Tuesday issued a subpoena to former Merrill Lynch Chief Executive John Thain to testify on the payment of bonuses to executives worth $4 billion.

John Thain, former Chief Executive of Merrill Lynch & Co. pledged to reimburse to the firm the $1.2 million he spent to renovate his office saying it was a mistake.

Bank of America had a role in the payment of bonuses worth $4 billion that Merrill Lynch approved for its executives ahead of the brokerage's sale to BofA, the Financial Times reported Sunday.

Bank of Americas' shareholders are filing lawsuits against the company, its chief executive Kenneth Lewis and former Merrill Lynch CEO John Thain, claiming they weren't told about the true financial condition of Merrill Lynch before the banks merged in December.

Merrill Lynch & Co paid bonuses to executives, estimated to be worth billions of dollars, just three days before the company's sale to Bank of America closed, reports said Thursday.

Former chief executive officer of Merrill Lynch & Co. John Thain has resigned from Bank of America Corp, three weeks after the companies merged. Last week, Merrill Lynch reported greater than expected losses for its fourth quarter, forcing BofA to receive additional government bailout funds.

Bank of America on Friday said it has secured a $20 billion government investment to assist in acquiring brokerage Merrill Lynch. The government will also cover a majority of losses linked to Merrill's assets.

Bank of America Corp requesting additional capital from the U.S. Government, according to people familiar with the situation quoted by reports today. The aid will help absorb losses related to the purchase of Merrill Lynch last month, a sale which the government favored to prevent further turmoil in the financial system.

Morgan Stanley, Merrill Lynch & Co. and Lehman Brothers Holdings Inc. had their credit ratings cut on Monday by Standard & Poor's on concerns that continued weakness in the sector could lead to more write-offs.

Merrill Lynch & Co. is in renewed talks to move its headquarters to one of the new buildings which is being built on the World Trade Center site, according to the Wall Street Journal.

Financial stocks fell on Friday on slipping consumer sentiment, led by losses at large regional banks Keycorp and Regions which were hurt by downgrades.

Shares of major U.S. financial institutions were mixed on Friday as the broader market advanced on easing fears of poor market liquidity.

The finance arm of Ford Motor Co. plans to sell $5.3 billion of car-loan bonds as investor demand increases for asset-backed securities, according Bloomberg.

Merrill Lynch & Co's head of structured finance and investments Michael Blum is leaving the company as the brokerage scales back its securitization business, people familiar with the matter told Bloomberg.

Deutsche Telekom AG, the owner of T-Mobile USA, is considering buying mobile-phone firm Sprint Nextel, according German magazine Der Spiegel.

Merrill Lynch & Co. will give its new global sales and trading executive Thomas Montag a 2008 bonus of $39.4 million, according to a regulatory filing.

For many bankers and traders, the days of company perks such as sleek limos, cushy business class seats, and fat steaks are gone.

The Kuwait Investment Authority may boost its investments in Citigroup Inc and Merrill Lynch & Co, according to comments by the group's managing director.

Merrill Lynch & Co is negotiating to hire the former head of Goldman Sachs' asset management division, Peter Kraus to a position overseeing strategy, according Bloomberg.

U.S. stocks gained on Thursday for a second day, with the Dow at its highest since January, after financial shares reversed losses and Merrill Lynch & Co. said it has enough capital to maintain its dividend, while retailers got a boost from lower oil prices.

Intrepid Potash Inc, which produces the potassium compound for fertilizer, jumped more than 60 percent on its first day on the open market as investors bet on a boom for agricultural products.