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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J.D. Byrider has closed its first asset-backed securitization, a $145 million deal led by RBS Securities.
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Several Wall Street banks, as well as Standard & Poor’s and Moody’s Investors Service, have asked a federal judge in Miami to dismiss a lawsuit against them charging fraud in connection with the collateralized debt obligations they sold and rated and that led to the demise of credit union Eastern Financial Florida.
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Bank of America and Société Générale have asked a New York state Supreme Court justice to overturn the restructuring of bond insurer MBIA, claiming that approval of the plan by Eric Dinallo, then insurance superintendent of New York, was based on misleading information and violated insurance law.
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The Spanish government has ordered Banco Santander and BBVA, the country’s two largest banks, to boost real estate provisions by a collective EUR4.5 billion ($5.8 billion) to cover potential losses.
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Lloyds Banking Group and the Co-operative Bank have submitted to the U.K.’s Financial Services Authority a proposal for the sale of Lloyds’ 632 Project Verde branches.
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Ina Drew, who heads JPMorgan Chase’s risk-management group, along with London traders Achilles Macris and Javier Martin-Artajo are said to be leaving the investment bank in the wake of massive losses revealed last week.
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George Smith, senior managing director in Cantor Fitzgerald’s debt capital markets platform, has left the firm to head up the mortgage-backed securities desk at Gleacher & Company Securities; the broker-dealer unit of investment bank Gleacher & Co.
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The U.S. Securities and Exchange Commission is said to have launched a preliminary investigation into JPMorgan Chase’s accounting practices and public disclosures about the derivatives trades, which resulted in losses of $2 billion.
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U.S. Bankruptcy Judge Eileen Hollowell of Tucson, Ariz., has extended a $207 million loan on two Westin hotels by what analysts say is an unusually long 15 years.