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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Hedge fund investor The Children’s Investment Fund is pressing U.K. Financial Services Authority to force Lloyds Banking Group to swap £10 billion ($15.65 billion) of contingent convertible debt, or CoCos, with ordinary shares, saying the CoCos have performed poorly in recent months.
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Fannie Mae and Freddie Mac completed nearly twice as many actions to prevent home foreclosures in the first quarter outside of the Home Affordable Modification Program than they did through HAMP, according to the U.S. Federal Housing Finance Agency.
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Eileen Rominger is retiring next month as director of the U.S. Securities and Exchange Commission’s Division of Investment Management.
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Gleacher & Co. Securities has expanded its mortgage-backed securities and rates division with the hiring of Adam Pace and Aaron Read as directors and Tai Vu as v.p.
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Lloyds Banking Group is said to considering floating its 632 branches as a new bank as prospects for a sale to Co-operative Bank appears to be fading.
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The U.S. Securities and Exchange Commission has appointed Thomas Butler as director of the newly created Office of Credit Ratings, effective June 18.
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The U.S. Federal Housing Finance Agency stated in its latest report to Congress that Fannie Mae and Freddie Mac posed “critical supervisory concerns in 2011.”
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Citigroup, JPMorgan Chase and SunTrust Bank have interpreted the Federal Reserve’s proposed capital regulations as a capital event that can trigger the redemption of more than $15 billion of trust preferred securities in July.
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Bank of America has leaped ahead of JPMorgan Chase as the biggest lender to the commodities industry in the first five months of 2012, according to Bloomberg data. Citigroup rose from fourth place to second and BNP Paribas plunged from second to 17th, while combined lending to the industry fell 16% from a year ago.