Latest news
Latest news
Japanese bank poaches Barclays structured credit sales director
'The lessons of the financial crisis should not be forgotten,' spokesperson warns
The point of 'Simple, Transparent and Standardised' is that these deals are safe
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Global regulators investigating alleged manipulation of the Euro Interbank Offered Rate are focusing on Philippe Moryoussef when he was a trader at Barclays between 2005 and 2007 and who has since been a trader at the Royal Bank of Scotland, Morgan Stanley and Nomura.
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John Ewan has left as director in charge of managing the London Interbank Offered Rate at the British Bankers’ Association to become head of business development of benchmark operations at Thomson Reuters.
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Central bankers will consider “radical reform” of the London Interbank Offered Rate when they meet at the Bank for International Settlements in September, according to Mervyn King, governor of the Bank of England.
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Bank of America reported an 18% increase retail residential mortgage originations to $18 billion in the second quarter from the preceding three-month period, though the figure is about flat from a year ago.
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Bank of America has agreed to pay $375 million to settle claims by bond insurer Syncora that it suffered millions in losses in connection with mortgage-backed securities sold by the bank’s Country Financial unit.
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Goldman Sachs has agreed to settle a class action led by a Mississippi public pension fund for losses from mortgage-backed securities the investment bank packaged.
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Wisconsin’s Community Bank & Trust of Sheboygan has filed a lawsuit against major banks—including JPMorgan Chase, Bank of America and Citigroup—charging them with manipulating the London Interbank Offered Rate, which it says kept its interest margins artificially low.
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Credit Suisse has responded to calls by the Swiss National Bank to boost its capital buffer with steps it plans to take, including a CHF3.8 billion issue ($3.86 billion) of convertible bonds and a partial sale of its private equity business.
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Wolfgang Shaeuble, Germany’s finance minister, said the Spanish government, and not its banks, will be responsible to repay the EUR100 billion ($1.23 billion)