The US Justice Department scored a major win when a New York federal jury found the Countrywide unit of Bank of America guilty for mortgage fraud.
Commercial banks
Eurobank should sell shares, says Hellenic Fund
Eurobank Ergasias SA failed to meet it capital requirements may now be force to sell shares at losing price.
CCB nears closing of Bicbanco buyout - source
The source said China Construction Bank Corp's acquisition of BicBanco would be the easiest step in securing a license to expand in Brazil.
Judge approves tentative deal for Countrywide
Judge Mariana Pfaelzer of the US District Court of Los Angeles temporarily approves Countrywide settlement for devalued residential mortgage backed securities.
Morgan Stanley projects recovery in Middle Eastern investment banking market
The Gulf region, after years of doldrums, is now on the road for recovery according to Morgan Stanley executives.
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JPMorgan to pay FHFA USD5.1 billion as settlement for loans and mortgage backed securities issues. A settlement agreement was finalized between JPMorgan Chase & Co and the Federal Housing Finance Agency on claims over defective home loans and mortgage backed securities.
The consortium running the Cameron LNG Project has lined up loan financing for the capitalization needed for the project.
A USD2 billion loan was paid off in full by state owned IPIC from RHB Capital. The International Petroleum Investment Co,. the Abu Dhabi tate owned fund, had paid in full a USD2 billion loan its unit had taken out last 2011.
The investigation into improprieties related to mortgage backed securities hinges its legality in a 1989 law.
Emirates NBD would be exiting from its remaining 15% stake in property developer Union Properties. On Thursday, the chief financial officer of Dubai's largest bank said it would be divesting its remaining ownership in Union Properties.
A First Tennessee Bank employee was injured in a Wednesday morning robbery. A Wednesday morning robbery at the First Tennessee Bank on East Brainerd Road injured an employee.
Saudi Arabia borrowers hired HSBC to manage their debt and equity capital market deals. HSBC Holdings said borrowers in Saudi Arabia had obtained its banks services to manage several debt and equity capital market transactions.
Sources told Bloomberg that Singapore-based Oversea-Chinese Banking Corp was reviewing a bid for Hong Kong-based Wing Hang Bank.
Grupo Financiero Inbursa was in discussions with Standard Bank Group to buy the latter's Brazilian business, sources told Bloomberg.
