Latest news
Latest news
Manager establishing London-based European BSL CLO platform
Investor previously headed consumer ABF at Barings
Norton Rose also recruits experienced partner from Paris law firm to its structurization team
More articles
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Andy Haldane, executive director for financial stability at the Bank of England, has called for a radical overhaul of bankers’ compensation.
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The U.K.’s Financial Services Authority has fined Credit Suisse £5.95 million ($9.49 million) for systems failures related to its sale of structured products.
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Banks in Italy, Portugal and Spain will have to raise the largest proportion of funds for recapitalization, while those in the France, Germany and U.K. may escape having to raise any.
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Lloyds Banking Group may is 632 branches after its effort to sell them attracted only one bidder despite reported interest from several others.
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The U.S. Securities and Exchange Commission’s recent decision to review the status of Real Estate Investment Trusts could signal a move to codify the exemptions and special privileges the REIT structure enjoyed—not the crackdown the industry fears—said Richard Ginn, managing director at Bank of America-Merrill Lynch.
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Investors at the ABS East conference said regulators are doing right by the industry in demanding increased transparency and reporting in the asset-backed securitization market, a move they say will put the market’s future on more solid footing. -
Assured Guaranty has filed suit against DLJ Mortgage Capital, a unit of Credit Suisse, over losses it suffered because of alleged misrepresentations about the quality of loans underlying six residential mortgage back securities.
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Bank of America has made a motion to disqualify the law firm of Quinn Emanuel Urquhart & Sullivan as counsel to American International Group in its lawsuit against the bank and other financial institutions over alleged misrepresentation of mortgage-backed securities.
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JPMorgan Chase now tops Bank of America as the nation’s largest bank in assets based on third-quarter earnings reports.
