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Securitization People and Markets

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  • Lloyds TSB has been sued by a group of investors over its merger with HBOS.
  • Northern Rock plans to reduce its workforce by 680 jobs this year to help lower costs after reporting a loss of £232 million ($373.06 million) for 2010.
  • The Central Bank of Ireland says banks undergoing stress testing will not be permitted to challenge the results.
  • The CRE Finance Council has released a new set of market standards for commercial mortgage-backed securities.
  • The Federal Reserve is said to be considering an auction for subprime mortgage-backed securities it holds from American International Group.
  • A unit of Lehman Brothers Holdings has asked a bankruptcy judge to allow it to purchase more than $900 million of commercial loan-backed notes from Barclays’ Pine unit.
  • Deutsche Bank has named Ben Solomon as head of secondary commercial mortgage-backed securities trading.
  • Angelo, Gordon & Co. is rolling out a new fund to invest in legacy and new issue commercial mortgage-backed securities.
  • Barclays is said to be at the center of a price manipulation investigation in the U.S. and U.K. involving the London interbank offer rate.