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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 Securities Industry and Financial Markets Association has expressed concern over proposals by the U.S. Financial Industry Regulatory Authority to increase transparency in the mortgage-backed securities market.
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Law firm Barnes & Thornburg has established a lending and structured finance practice group to be chaired by partners Michael Campbell and Nancy Schimmel.
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Wells Fargo is said to be preparing to auction $200 million in nonperforming residential loans.
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Moody’s has downgraded the long-term debt and deposit ratings by one to three notches on 16 Spanish banks plus the U.K. subsidiary of Banco Santander.
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U.K. taxpayers could face a loss of £2 billion ($3.16 billion) from a wind down of Northern Rock, according to estimates by the U.K.’s National Audit Office.
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Stuart Gulliver, ceo of HSBC, said the bank may consider selling its U.K. branches if the costs of ringfencing regulations make it impossible for it to meets its profit targets.
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Deutsche Bank and Cantor Fitzgerald are said to be preparing to sell $824 million in commercial mortgage-backed securities in the coming days.
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The U.S. Securities and Exchange Commission is said to have launched an investigation into the role hedge fund Magnetar Capital played in various collateralized debt obligations.
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Thomas Curry, the Comptroller of the Currency, said in a speech that the complexity of today’s banking markets and the sophistication of technology has put banks’ operational risk “at the top of the list of safety and soundness issues for the institutions we supervise.”