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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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Four former employees of MF Global, the brokerage firm that went bankrupt late last year, have joined Knight Capital as part of that firm’s effort to expand its sales team in non-agency mortgage-backed securities, according to John Welde, Knight’s global head of structured product sales.
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Ireland’s Sealink Funding has filed additional lawsuits against several big banks, including JPMorgan Chase, Citigroup and Bank of America, over $949 million in residential mortgage-backed securities.
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The Federal Reserve has been secretly rewriting financial regulations—said to be the most sweeping overhaul since the Depression—raising transparency issues.
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Germany’s Landesbank Baden-Wuerttemberg has filed a lawsuit in New York against Royal Bank of Scotland, claiming it lost more than $71 million on its investment in mortgage-backed securities because RBS allegedly misrepresented the mortgages in the MBS.
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BGC Partners has agreed to buy Grubb & Ellis after the Santa Ana-based commercial real estate firm filed for bankruptcy protection.
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Citigroup may suffer a write-down of billions of dollars as it unwinds its minority interest in Mortgage Stanley Smith Barney, say analysts.
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Pacific Investment Management Co. is said to have left the American Securitization Forum because the ASF would not issue a statement about investors’ views concerning the settlement between government officials and the nation’s five largest lenders over mortgage practices.
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HSBC is said to be preparing to issue new shares to help pay for cash bonuses that exceed £50,000 ($78,425), a limit adopted by other banks, including the Royal Bank of Scotland, Lloyds Banking Group and Barclays.
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The Royal Bank of Scotland and Lloyds Banking Group are predicted to post combined losses of at least £4 billion ($6.27 billion) this week, stoking concerns that it may be years before the U.K. government is repaid for keeping the lenders afloat.