Latest news
Latest news
Bank’s relationship with SpringCash is ‘commercial’
Stefan Jost will take over the role
Koning to leave in the next year
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The Canadian federal government’s measures to cool the nation’s housing market with tougher mortgage regulations has worried banks, with Royal Bank of Canada and Toronto-Dominion Bank warning that the rules could ultimately hurt the economy if they are left in place too long.
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French Prime Minister Jean-Marc Ayrault told lawmakers that French banks will need to separate their speculative activities to better service the economy.
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Ally Bank is exiting warehouse lending and expects to wind down the business by the end of the year.
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Bob Diamond and Jerry del Missier have resigned as ceo and coo, respectively, at Barclays following the bank’s settling with regulators over alleged manipulation of the London Interbank Offered Rate.
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GE Capital is selling its business property lending division to EverBank Financial in a deal valued at $2.51 billion.
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UBS has completed a securitization of a portion of its derivatives counterparty exposure, while Credit Suisse is said to be considering the same as a way to boost capital.
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The European Bank for Reconstruction and Development has announced that it has committed up to US$50 million through a structured debt instrument to ZAO Raiffeisenbank, the Russian subsidiary of Austria’s Raiffeisen Bank International.
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The European Securities and Markets Authority has launched an investigation of Standard & Poor’s, Fitch Ratings and Moody’s Investors Service to determine whether the process they use for evaluating banks is sufficiently rigorous and transparent.
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The Royal Bank of Scotland will likely face a £150 million ($234 million) fine for its alleged involvement in manipulating the London Interbank Offered Rate, about half the size of penalty imposed on Barclays last week.