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Vida Bank is also building up its funding team
Bank’s relationship with SpringCash is ‘commercial’
Stefan Jost will take over the role
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The U.S. Court of Appeals for the Second Circuit hasgranted the U.S. Securities and Exchange Commission a stay of a lower court ruling that rejected a settlement between the SEC and Citigroup over its sale of mortgage-backed securities.
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UK Financial Investments says it may sell the government’s stake in Royal Bank of Scotland and Lloyds Banking Group at a loss, warning that government interference will make it more difficult to sell shares of the two lenders.
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Richard Reilly, former co-head of securitization at White & Case, has joined DLA Piper’s global investment funds practice.
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The U.S. Securities and Exchange Commission charged three former top executives of Thornburg Mortgage, including CEO Larry Goldstone, with fraud for allegedly concealing the company’s deteriorating financial condition at the beginning of the financial crisis.
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Wayzata, Minn.-based TCF Financial says it sold $1.9 billion in 3.8% weighted average mortgage-backed securities and restructured $3.6 billion of 4.3% weighted debt in its efforts to reposition its balance sheet.
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Greece’s Alpha Bank has proposed ending its merger plans with Eurobank after the Greek sovereign debt swap last week resulted in significantly greater losses to the lenders than had been anticipated when they agreed to combine last November.
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BNP Paribas is the leading corporate bank in Europe with a 61% market penetration, according to Greenwich Associates.
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The Royal Bank of Scotland has announced it will cut 1,600 jobs and Lloyds Banking Group 300 in a move that has angered unions, who have asked the U.K. government, which largely owns the lenders, to intervene.
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The Federal Reserve has announced that Ally Financial, Citigroup, MetLife and Suntrust do not have sufficient capital to withstand another financial crisis based on the central bank’s hypothetical deep-recession scenario in its latest round of stress tests.