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Octopus Electric Vehicles has also added to its capital markets team
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Bank of America-Merrill Lynch is said to be considering a sale of some $40 billion of mortgage-servicing rights linked to loans issued by Freddie Mac.
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An estimated one-quarter of loans modified through Citigroup’s private programs have redefaulted over the past two years, according to John Gerspach, the bank’s cfo.
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The Royal Bank of Canada Capital Markets’ U.S. covered bond origination chief sees opportunity in overseas banks tapping U.S. investor appetite for covered bonds. -
Robert Bostrom, the executive v.p., general counsel and corporate secretary for Freddie Mac, is jumping to private practice and will start work at SNR Denton in mid-August.
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The U.S. Securities and Exchange Commission is said to be looking into whether banks are providing shareholders with accurate information about potential mortgage-related liabilities from payouts and legal challenges.
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Dexia, the European municipal lender, has filed a lawsuit against Deutsche Bank over $1 billion in residential mortgage-backed securities it bought from the German bank.
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Federal Home Loan Banks in Boston, Chicago, Indianapolis, Pittsburgh, San Francisco and Seattle, along with TM1 Investors, are questioning the fairness of Bank of America’s proposed $8.5 billion settlement over soured mortgage-backed securities.
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Barclays, HSBC, Royal Bank of Scotland and Lloyds Banking Group have joined forces in opposing the ring-fencing of retail and investment banking as proposed by the U.K. government’s Independent Commission on Banking.
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EDHEC-Risk Institute has warned the European Union not to impose the so-called Tobin tax on financial transactions to help fund the E.U. budget.
