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Banker had been at NatWest for three years
New hire to be US head of digital infrastructure finance for combined firm
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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.
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UBS is planning to sell more loss-absorbing banks to help raise $16 billion to meet higher capital requirements after its first such offer sold $2 billion last week.
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Law firm Baker & McKenzie has picked up Christopher Horn as a partner in the firm’s securitization and structured finance practice in New York.
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A bankruptcy judge in Delaware has approved Washington Mutual’s plan for exiting bankruptcy and repaying creditors some $7 billion.
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The PrinceRidge Group has expanded its mortgage-backed securities team with the hiring of Kate Lee to head its new collateralized mortgage obligation effort and Jason Huey as a member of the MBS sales staff.
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Hungarian Central Bank’s decision to introduce a two-year collateralized credit facility, expand the range of eligible securities for repos, and propose a universal forint-denominated mortgage bond purchase scheme to ease bank liquidity pressures and reduce the risk of a credit crunch are credit positive, according to Moody’s Investors Service.
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Lloyds Banking Group has become the first U.K. bank to claw back bonuses from executives since the start of the financial crisis.
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The U.K.’s Financial Services Authority has fined Santander £1.5 million ($2.38 million) for failing to accurately communicate to customer confirm under which circumstances its structured products would be covered by the Financial Services Compensation Scheme.
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Citigroup has agreed to pay $158.3 million to settle claims that its CitiMortgage unit defrauded the federal government into insuring risky home loans it issued.