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Octopus Electric Vehicles has also added to its capital markets team
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Credit Suisse reported that profit plunged 96% in the first quarter to CHF44 million ($48.17 million) from CHF1.1 billion ($1.2 billion) a year earlier, thanks in part to a charge on the value on its debt and scaling back of its investment-banking business.
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The governing council of the European Central Bank has decided to require banks to provide more information on the asset-backed securities they plan to use for collateral they pledge to the ECB’s liquidity program.
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Spain’s Caixabank has increased its stake in Portugal’s Banco BPI to nearly 49% by acquiring a 18.87% stake from Brazil‘s Banco Itau for EUR93.4 million ($123.2 million)
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ING Investment Management is planning to launch a euro-denominated covered bond. ING already offers EUR1.4 billion ($1.85 billion) in the bonds.
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The Attorney General’s Office of New York has denied claims that the Residential Mortgage-Backed Securities Working Group set up in January by the Obama administration and headed by N.Y. Attorney General Eric Schneiderman has been inactive.
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The U.S. Securities and Exchange Commission is said to be considering charging credit rating agency Egan-Jones and its founder, Sean Egan, for allegedly filing misleading information in its application to rate asset-backed securities and sovereign debt.
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Issuance of commercial mortgage-backed securities for 2012 is now expected to be higher than earlier projected.
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Investors’ demand for Bank of America to buy back bad loans rose to a record $16.1 billion in the first quarter, a 28% increase from the preceding three-month period.
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Sankaty Advisors is said to have issued price guidance on its $412.5 million collateralized loan obligation, known as Race Point VI CLO, with the price expected to be set the week of April 30.