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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Nationstar Mortgage has acquired $63.7 billion in residential mortgage servicing rights from Aurora Bank, with three-quarters of the portfolio consisting of non-conforming loans in private label securitizations.
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The Office of the Comptroller of the Currency is said to have been requesting review of JPMorgan Chase’s risk models ranging from trading losses to interest-rate moves to determine whether they are designed and working properly.
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Home builder Lennar has launched it second distressed-property fund, looking to raise $950 million, about 35% larger than its first such fund, which attracted $700 million last November.
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Marriott Vacations Worldwide has completed its first securitization linked to vacation loans.
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Nebraska-based recreational retailer Cabela’s has completed the sale of $500 million in asset-backed notes.
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Barclays CEO Bob Diamond, in a letter to Andrew Tyne, chairman of the Treasury select committee, said he would conduct a rigorous review of staff involved with the London interbank offered rate, and take appropriate action, including clawing back bonuses and fines, if warranted, after the bank was fined for alleged manipulation of LIBOR.
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The Italian government has agreed to bail out Banca Monte dei Paschi di Siena, the nation’s oldest bank, by purchasing up to EUR2 billion ($2.54 billion) of its bonds.
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National Irish Bank is closing its 27 retail-banking branches in Ireland as part of its overhaul, which includes changing its name to Danske Bank.
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Olivier Schaller, vice director of the Swiss Federal Competition Commission, said there will be no early end to the commission’s investigation into banks over alleged manipulation of the London interbank offered rate, despite the recent settlement in the U.K.