Latest news
Latest news
PAG also hires new vice president
Agreement on the EU package could run to December, senior lawyer told conference
Octopus Electric Vehicles has also added to its capital markets team
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Wells Fargo spent $7.8 million on in-house lobbyists to influence mortgage regulations, ahead of JPMorgan Chase, Citigroup, Bank of America, Goldman Sachs and Morgan Stanley. .
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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.