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Latest news
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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A bankruptcy judge in Delaware has approved Washington Mutual’s plan for exiting bankruptcy and repaying creditors some $7 billion.
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The PrinceRidge Group has expanded its mortgage-backed securities team with the hiring of Kate Lee to head its new collateralized mortgage obligation effort and Jason Huey as a member of the MBS sales staff.
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Hungarian Central Bank’s decision to introduce a two-year collateralized credit facility, expand the range of eligible securities for repos, and propose a universal forint-denominated mortgage bond purchase scheme to ease bank liquidity pressures and reduce the risk of a credit crunch are credit positive, according to Moody’s Investors Service.
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Lloyds Banking Group has become the first U.K. bank to claw back bonuses from executives since the start of the financial crisis.
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The U.K.’s Financial Services Authority has fined Santander £1.5 million ($2.38 million) for failing to accurately communicate to customer confirm under which circumstances its structured products would be covered by the Financial Services Compensation Scheme.
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Citigroup has agreed to pay $158.3 million to settle claims that its CitiMortgage unit defrauded the federal government into insuring risky home loans it issued.
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UBS has suspended several traders, including some of its most senior ones, amid an investigation into alleged collusion to influence the London Interbank Offered Rate and its equivalents in Europe and Asia.
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BNP Paribas has slashed its bonus pool for 2011 by 50% after pretax profit at corporate and investment banking plunged 40% in the fourth quarter.
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Société Générale reduced risk-weighted assets in corporate and investment banking by 13% last year by dumping EUR16.1 billion ($21 billion) of legacy assets, including a EUR476 million ($620.7 million) write-down in the fourth quarter from positions on U.S. residential mortgage-backed collateralized debt obligations.