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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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European banks are stepping up their sale of covered bonds as a financing alternative.
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The law firm Gibbs & Bruns announced that its client institutional bondholders have instructed US Bank and HSBC, as their trustees, to launch investigations of ineligible mortgages that were pooled for more than $19 billion of residential mortgage backed securities issued by various affiliates of Wells Fargo.
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The Royal Bank of Scotland may cut up to 10,000 jobs as part of its restructuring into a retail bank.
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The Royal Bank of Scotland is said to be meeting with U.K. investors beginning Jan. 5 with an eye toward selling a sterling-denominated covered bond.
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BNP Paribas, Société Générale and Crédit Agricole have all taken steps to reduce the size of their U.S. operations.
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StormHarbour has hired Aishwarya Dahanukar, a senior official in Nomura’s European financial institutions group debt capital markets origination team, in a similar position in London.
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The performance of loans in Irish commercial mortgage-backed securities deteriorated sharply in October as the rate of loans 90 days or more delinquent climbed from 8.85% at the end of July to 10.14%, according to Moody’s Investors Service.
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Lloyds Banking Group has sold more than £900 million ($1.41 billion) in mortgage-backed loans to Lone Star Funds, the U.S. private equity firm.
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Reed Smith has hired Tamara Box as head of structured finance in the law firm’s financial industry group in London.