RBC In Talks With Regulators To Buy Back ARS

By Morgan Bettex (August 22, 2008, 12:00 AM EDT) -- Royal Bank of Canada is reportedly negotiating with U.S. regulators to buy back auction rate securities from its retail clients, following Thursday's announcement by New York Attorney General Andrew Cuomo that Merrill Lynch & Co., Goldman Sachs Group Inc. and Deutsche Bank AG have reached agreements to buy back $10.5 billion worth of auction rate securities from investors....

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