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Latest news
Deal raises questions about whether transaction was done at arm's length
Joanna Chan is taking on the role of head of strategic capital
Key points of contention include the investor sanctions regime and the definition of 'resilience'
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Reaction was mixed to the announcement that the European Central Bank would launch a new covered-bond purchase plan next month.
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Pressure is mounting on Bank of New York Mellon to settle fraud charges in connection with foreign-exchange cases as the New York state attorney general and the U.S. Attorney’s Office in Manhattan have filed fresh complaints against the bank.
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MF Global has expanded its mortgage-backed securities team with the hiring of Rusian Margolin, Peter Ma and Steven Boginsky.
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Bank of America has confirmed reports that it is closing its retail lending operations in six low-volume states-- Alabama, Alaska, Montana, Nebraska, Wisconsin and Wyoming—as it works to streamline its mortgage business.
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Nationwide Building Society is launching a euro-denominated covered bond, in addition to a prime residential mortgage-backed securitization.
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Dexia is said to be in advanced talks with a potential buyer for its Luxembourg branch, according to Luc Frieden, the country’s finance minister.
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A U.K. tax tribunal has affirmed a valuer’s judgment and ruled that investors in Northern Rock were not entitled to any compensation for losses they suffered after the British government nationalized the troubled mortgage lender in February 2008.
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UBS has admitted that it failed to take action once it uncovered evidence of authorized trading, which led to losses of $2.3 billion at the Swiss bank.
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David Kaplan, head of residential mortgage-backed securities trading at PrinceRidge, was let go yesterday, reportedly as part of cuts on the securitization side of the business as the two-year-old group looks to focus instead on corporate financing. Kaplan could not be reached for comment.