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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Loreley Financing (Jersey) has filed a lawsuit in New York against UBS, charging the U.K. bank allegedly misrepresented the risks in collateralized debt obligations it sold the firm, which lost at least $331 million on the deal.
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Toronto-based Glacier Credit Card Trust is said to be raising C$200 million ($195.3 million) from asset-backed securities linked to receivables of Canadian Tire Bank.
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Bankia, Spain’s fourth largest bank, is said to be seeking more than EUR14 billion ($17.55 billion) from the Spanish government to help meet the financial obligation it imposed on the financial institution.
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Moody’s Investors Service has downgraded Norway’s DNB and Sweden’s Nordea and Handelbanken because of their reliance on market funding, competition for retail loans and their exposure to the euro zone debt crisis.
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Belgian-French bank Dexia say it is in talks to sell its Turkish Denizbank arm to OAO Sberbank, Russia’s largest bank, in deals that sources said is valued at between $3 billion and $4 billion.
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Banco Santander has appointed Banesto CEO José García Cantera to run the global wholesale banking franchise. He replaces Adolfo Lagos, who is due to retire next year.
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A federal judge in Los Angeles has barred American International Group from suing Bank of America’s Countrywide Financial unit over some losses from mortgage-backed securities because they were filed more than three years after the MBS were issue, past the statute of limitations.
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The Mortgage Bankers Association has revised upward by nearly $200 billion its forecast for mortgage origination in 2012, largely because of an increase in refinancing activity.
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Matthew Stegman is said to have been named the lead coordinator to the Obama administration’s Residential Mortgage-Backed Securities Working Group.