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Octopus Electric Vehicles has also added to its capital markets team
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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.
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Royal Bank of Scotland is close to completing a deal with the Blackstone Group to offload control of £1.4 billion ($2.17 billion) of distressed mortgages, known as Project Isobel.
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Barclays and hedge fund Angelo Gordon have asked a federal court to determine whether an estimated $600 million in outstanding commercial mortgage-backed securities defaulted.
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The Basel Committee on Banking Supervision said conglomerates could not double count capital of both a bank parent and insurer toward meeting capital requirements in an accounting method known as consolidation.
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The U.K.’s National Audit Office is investigating the sale of Northern Rock to Virgin Money after complaints that the deal is poor value for taxpayers.
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Barclays Capital is looking to sell German properties that it had acquired in November by exercising a call option on a EUR1.36bn ($1.78 billion) loan made in 2007 to BauBeCon, the German residential landlord.
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Avnet, the electronics component distributor, has dropped Crédit Agricole from its asset-backed revolving credit facility because of the French bank’s current financial situation, according to Ray Sadowski, Avnet’s cfo.