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Despite a tepid response in a 2024 consultation, there are signs EU authorities are laying the groundwork
European and high yield chiefs to take the reins
Kevin Duignan to retire after 33 years, mainly in structured finance
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Israel’s Bank Hapoalim has filed a lawsuit against Bank of America Merrill Lynch and its Countrywide Financial unit over $750 million losses from a $3.65 billion million investment in mortgage-backed securities.
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Credit Suisse is said to be preparing to announce it will cut 5,000 investment-banking jobs when it releases its first-quarter results April 25.
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Low risk weights assigned to mortgage backed securities and other regulations contributed to the recent crisis by prompting banks to hold similar baskets of assets, thus magnifying the crisis, according to Esther George, president of the Federal Reserve Bank of Kansas City.
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Lehman Brothers Holdings said it will make a first payout of roughly $22.5 billion to creditors April 17, more than twice the expected minimum.
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NBNK has revised its bid for Lloyds Banking Group’s 632 branches after Co-operative Group, which had the winning offer, has yet to close the deal.
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The Paragon Group has acquired additional unsecured consumer loans from the Royal Bank of Scotland as part of its agreement announced last October to acquire such loans for consideration of £43.2 million ($68.9 million) and more modest acquisitions from time to time.
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New rules adopted by the U.S. Consumer Financial Protection Bureau will likely raise operational, compliance and reporting expenses for mortgage servicers, including large banks, according to Fitch Ratings.
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Performance indicators for Portuguese residential mortgage-backed securities are misleading, according to Fitch Ratings.
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Spanish banks may have to close an additional 10,000 to 12,000 branches as a result of a reduced demand for loans, according to Enrique Garcia Candelas, head of retail banking at Banco Santander.