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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Olivier Schaller, vice director of the Swiss Federal Competition Commission, said there will be no early end to the commission’s investigation into banks over alleged manipulation of the London interbank offered rate, despite the recent settlement in the U.K.
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The U.K.’s Financial Services Authority has reached an agreement with Barclays, HSBC, Lloyds Banking Group and the Royal Bank of Scotland that calls on the banks to compensate customers for loan-insurance products mis-sold to them.
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The European economic crisis has had little impact on the European structured finance sector, with a default rate of only 1.02% for vintage mid-2007 notes, according to Standard & Poor’s. S&P also reported that consumer-related securitizations have outperformed those backed by loans to corporations.
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First Niagara Financial Group earned $16 million before taxes following the sale of $3.1 billion in mortgage-backed securities.
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JPMorgan Chase has pumped money into Junius Real Estate Partners after the fund failed to attract investors.
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Standard & Poor’s has issued its methodology for rating covered bonds.
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Lloyds Banking Group has reached a deal with the Co-operative Group for its 632 branches, and has ended talks with NBNK for the offices.
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Barclays has agreed to settle allegations by the U.S. Commodity Futures Trading Commission, the U.S. Department of Justice and the U.K.’s Financial Services Authority that its traders manipulated the London Interbank Offered Rate to benefit its derivatives.
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Credit Suisse won four of the collateralized debt obligations with a face value of $3.45 billion in the latest Federal Reserve auction of assets from its Maiden Lane III portfolio acquired from the bailout of American International Group.