Latest news
Latest news
Joanna Chan is taking on the role of head of strategic capital
Key points of contention include the investor sanctions regime and the definition of 'resilience'
Magnetar and Chorus Capital lose experienced pros
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WestLB is planning on moving the assets of Westimmo, its real estate finance affiliate, to Erste Abwicklungsanstalt, its bad bank, after the German lender was unable to sell the firm.
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The Federal Reserve has issued a consent cease and desist order and assessed a $6 million civil money penalty against the Bank of New York Mellon related to allegations that the bank breached “certain representations and warranties” made to Federal Reserve of Boston in connection with its participation in the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility.
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Bank of America is said to be considering another bulk sale of foreclosed home to shrink its inventory of distressed assets, it second in the past several months.
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Nearly all bankers (96%) say stress testing has not addressed all important risks to the banking system, according to a survey by software firm Sybase.
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Some 33 trade groups that include the American Bankers Association, the American Securitization Forum and the Mortgage Bankers Association have joined forces to ask Richard Codray, the director of the Consumer Financial Protection Bureau, to adopt a broad definition of “qualified mortgage” and to set clear qualified-mortgage standards as part of regulations due later this year.
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Residential Capital missed a semiannual interest payment April 17 on a $1.75 billion bond that matures next year, and that could result in an event of default if it fails to make the payment in 30 days, according to a filing with the U.S. Securities and Exchange Commission. .
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Standard & Poor’s has approved CoreLogic as a third-party due diligence provider for residential mortgage-backed securities it rates.
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Barclays has announced that it has merged its corporate coverage and deal-making teams into a new corporate finance mergers and acquisitions group, led by Tom King, Paul Parker and Ron Stephenson, according to an internal memo.
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Austria’s central bank says nationalization of three of the country’s lenders have contributed to cleaning up its banking structure.