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Latest news
Deal raises questions about whether transaction was done at arm's length
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'
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Joseph Smith, the North Carolina commissioner of banks, has been tapped to oversee the $25 billion settlement between government officials and major lenders over their foreclosure practices.
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Barclays is slashing bonuses at Barclays Capital, its investment banking unit, by 32% after it reported a 16% decline in full-year net income.
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German insurer Allianz is planning to double the volume of asset-backed lending over the next three years from 5% to 7% of its portfolio, though it has not set a target amount, according to Nikhil Srinivasan, the firm’s cio, in an interview with a German newspaper.
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Bank of America has agreed to pay $1 billion to settle claims relating to its Countrywide Financial unit.
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Infonavit, the mortgage-lender run by the Mexican government, sold a record $392 million in mortgage-backed securities called Cedevis.
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Residential Capital is said to be exploring the possibility of selling itself to a buyout firm through a prepackaged bankruptcy.
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The U.S. government reached a $25 billion settlement with the nation’s five largest mortgage loan servicers to provide relief to homeowners struggling with their mortgages, as well as payments to the federal and participating state governments.
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Spain’s CaixaBank has priced its five-year EUR1 billion ($1.32 billion) covered bond at 248 basis points above midswaps.
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UBS is said to have told its employees that it will claw back part of the bonuses awarded its highest-paid investment bankers for the first time.