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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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Changes to the government’s Home Affordable Refinance Program may result in Bank of America having to absorb $4.5 billion in losses.
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Moneygram Payment Systems has filed suit against Citigroup charging the bank and two of its units engaged in a “fraudulent scheme” to sell nine collateralized debt obligations linked to mortgages.
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A group of investment advisers and investors in residential mortgage-backed securities has sued Morgan Stanley, charging the investment banks with selling loans in $6 billion worth of residential mortgage-backed securities trust “based on false and/or fraudulent representations and warranties.”
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KGS-Alpha Capital Markets has added a commercial mortgage-backed securities trading team with three arrivals from Citadel Securities.
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Germany’s Commerzbank may struggle to raise nearly EUR3 billion ($4.12 billion) to meet higher capital requirements by next June because of stagnant growth and limited ability to reduce risk-weighted assets, according to Fitch Ratings.
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JPMorgan Chase is said to be planning a $739 million floating-rate commercial mortgage-backed securitization and has already sold the riskiest tranches to investors.
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Citigroup and the U.S. Securities and Exchange Commission have told a federal judge that the proposed $285 million settlement of claims the bank misled investors in collateralized debt obligations is “fair, adequate and reasonable.”
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Starwood Property Trust has boosted its investments in residential mortgage-backed securities as real estate investment trusts look to alternatives for placing their cash. In
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A reported share issue by Bank of America may not solve the bank’s projected $45 billion shortfall by the end of next year, says Richard Staite, an analyst at Atlantic Equities.