Latest news
Latest news
Despite a tepid response in a 2024 consultation, there are signs EU authorities are laying the groundwork
European and high yield chiefs to take the reins
Kevin Duignan to retire after 33 years, mainly in structured finance
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U.S. District Judge Richard Stearns of Boston has rejected a motion by JPMorgan Chase to dismiss a lawsuit charging the bank for mishandling loan modifications, and “gross ineptitude” of a bank unit in connection with loan modifications by prolonging the process, imposing additional fees on loans in default and starting foreclosures after homeowners filed for workouts.
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A refinance plan proposed by Sen. Jeff Merkley (D-Ore.) could help an estimated 75% of borrowers with loans packaged into private-label residential mortgage-backed securities, according to JPMorgan Chase analysts.
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The Royal Bank of Canada is preparing to offer its first covered bond registered with the U.S. Securities and Exchange Commission.
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Knight Capital has expanded its institution fixed income sales and trading team with the hiring of Robert Cestari as managing director and head of commercial mortgage-backed securities and commercial real estate debt trading, and David Simek as managing director and head of CMBS sales.
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The Royal Bank of Scotland is said to be in talks with authorities for a deal related to its alleged involvement in the manipulation of the London Interbank Offered Rate.
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Rising bad-debt charges are hitting Portuguese banks hard, with Banco Espirito Santo, the country’s largest bank by market capitalization, reporting a 15% increase in charges from a year ago.
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Deutsche Bank is planning to cut its staff but 1,900 jobs, with roughly 1,500 from investment banking, as part of its effort to reduce expenses by EUR3 billion ($3.67 billion).
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Belgium’s Royal Park Investments has filed a lawsuit against several banks, including JPMorgan Chase and Goldman Sachs, for allegedly misrepresenting the underwriting standards they used to issue the loans packaged into $3.2 billion in residential mortgage-backed securities they sold the firm.
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Berkshire Bank has filed a lawsuit against 21 banks, including Bank of America, Barclays, JPMorgan Chase and Citigroup, for allegedly manipulating the London Interbank Offered Rate, resulting in lower interest payments it received.