Subprime

Subprime 06/02/2012

12:08 : Carbon bubble: Bank of England's opportunity to tackle market failure ... - Bank's willingness to consider fossil fuel exposure as a risk to financial stability will serve as an important test of whether anything has been learned from the sub-prime crisisThe depth of the financial system's exposure to high carbon ...

Source : guardian-co-uk

Subprime 02/02/2012

00:30 : City rogue trader at Credit Suisse pleads guilty - A trader at the centre of the sub-prime mortgage securities scandal at Credit Suisse in London was unmasked yesterday as he pleaded guilty to falsifying the books in a New York court.

Source : independent-co-uk

Subprime 19/01/2012

13:17 : Fossil fuels are sub-prime assets, Bank of England governor warned - Open letter to Sir Mervyn King says overexposure to high-carbon assets by London-listed companies risks creating a 'carbon bubble'The huge reserves of coal, oil and gas held by companies listed in the City of London are "sub-prime" ...

Source : guardian-co-uk

Subprime 23/12/2011

10:44 : Barclays hit with $3m fine by US regulator - The US Financial Industry Regulatory Authority handed Barclays a stinging fine over failures in its investment banking division related to residential sub-prime mortgage-backed securitisations.

Source : citywire-co-uk

08:46 : Barclays fined $3m by US regulator over sub-prime failures - Barclays has been fined $3 million by the US Financial Industry Regulatory Authority over failures in its investment banking division related to residential sub-prime mortgage-backed securitisations.

Source : citywire-co-uk

Subprime 22/12/2011

00:01 : TEXT: S&P Raises Servicer Ranking On Pepper Australia To STRONG - -- We have raised the overall ranking on Pepper Australia Pty Ltd. as a residential subprime loan servicer in Australia to STRONG from ABOVE AVERAGE.

Source : reuters-com

Subprime 16/12/2011

17:40 : Ex-CEOs among six Fannie Mae and Freddie Mac executives charged with fraud - Ex-CEOs Daniel Mudd and Richard Syron among executives accused of misleading taxpayers over sub-prime mortgagesThe Securities and Exchange Commission has brought civil fraud charges against six former top executives at Fannie Mae|Fannie ...

Source : guardian-co-uk

Subprime 15/12/2011

11:50 : IL&P expects over 10 bids for UK loan book - IRISH Life & Permanent is expecting more than 10 bidders to table first-round offers for its £6.8bn (€8.1bn) UK loan book by the end of this week, while a "handful" are set to submit final bids for the sub-prime ...

Source : independent-ie

Subprime 13/12/2011

22:45 : Subprime Cheap to Buyers With Long View, Pine River Says - Institutional mortgage-bond buyers consider securities backed by subprime home loans issued during the housing boom as worthwhile investments, Pine River Capital Management LP's Steve Kuhn said.

Source : businessweek-com

Subprime 28/11/2011

19:42 : RBS pays $52m in Massachusetts sub-prime settlement - Royal Bank of Scotland has agreed to pay a $52m (£33m) fine to the state of Massachusetts to settle allegations it resold mortgage loans knowing they could not be repaid.

Source : telegraph-co-uk

Subprime 16/11/2011

04:33 : TEXT: S&P says Australia PRIME RMBS arrears eased in Q2 - MELBOURNE (Standard & Poor's) Nov. 16, 2011--Loans underlying Australian prime residential mortgage-backed securities (RMBS) that are greater-than-30 days in arrears fell to 1.69% in June 2011 (Q2), from 1.81% in March 2011, according to a report published ...

Source : reuters-com

Subprime 21/10/2011

09:17 : Provident Financial expects good annual result - LONDON (Reuters) - Sub-prime lender Provident Financial said it expected a good set of annual results, helped by growth at its Vanquis Bank and Consumer Credit divisions.

Source : reuters-com

Subprime 24/09/2011

23:53 : IMF and World Bank meetings focus on downturn and debt crisis, but gender ... - World Bank president Zoellick emphasises gender inequality and the plight of developing countries in the financial crisisIn the days before sub-prime mortgages and collateralised debt obligations became part of common parlance, the annual ...

Source : guardian-co-uk

Subprime 23/09/2011

22:59 : Rogue trading: why are speculators free to gorge on yet another acronym? - ETFs (Exchange Trader Funds) are behind the UBS rogue trading. Have we have learned nothing from the financial crisis'Remember sub-prime securities and all the other toxic financial instruments (RMBS, CDOs, CLOs etc) that made ...

Source : guardian-co-uk

Subprime 17/09/2011

23:03 : Rewind TV: The Body Farm; Too Big to Fail; The Queen's Palaces; Billy ... - The BBC have found a suitably preposterous successor to Waking the Dead while the sub-prime crisis gets the full-star treatment on Sky AtlanticThe Body Farm (BBC1) | iPlayerToo Big to Fail (Sky Atlantic)The Queen's Palaces (BBC1) | iPlayerBilly ...

Source : guardian-co-uk

19:17 : China 'faces subprime credit bubble crisis' - Monetary tightening in China threatens to pop the $1.7 trillion (£1.07 trillion) credit bubble in local government finance and expose the country's simmering "subprime" crisis, according to the Communist Party's economic guru.

Source : telegraph-co-uk

Subprime 02/09/2011

23:28 : UPDATE 5-U.S. regulator sues major banks over subprime bonds - * Litigation may hamper settlement with states - analyst (Updates with Deutsche Bank and Bank of America statements, details from lawsuits, link to FACTBOX)

Source : reuters-com

22:28 : Royal Bank of Scotland, Barclays and HSBC may face sub-prime legal threat - Britain's biggest banks could become embroiled in multi-billion pound lawsuits as the US government prepares to launch legal action over the sub-prime mortgage scandal.

Source : thisismoney-co-uk

08:02 : US authorities to sue big banks over sub-prime crisis - The agency overseeing the remains of Fannie Mae and Freddie Mac seeks billions of dollars in compensation from banks including Bank of America, JP Morgan and Goldman SachsUS authorities are preparing to sue more than ...

Source : guardian-co-uk

Subprime 10/08/2011

20:00 : HSBC finally comes to terms with Household difficulties - The sale of Household's credit card business in this climate is commendable, but the back-to-basics strategy is long overdueEight years after the rotten purchase of US lender Household, the retreat begins in earnest. Half of Household – the smelly half ...

Source : guardian-co-uk

16:30 : HSBC sells US credit card business to Capital One - British bank makes $2.4bn gain in latest sale after disastrous exposure to US sub-prime loans from 2003 Household dealHSBC has sold the credit card business bought as part of its disastrous foray into the US's sub-prime ...

Source : guardian-co-uk

Subprime 05/08/2011

20:10 : Financial jargon is all Greek to me save one word – debt | Peter Wilby - The economics of global trade with China and the creation of the euro long seemed to defy logic. But what would I know?You may recall the Latin American debt crisis of 1982, the Asian debt crisis of 1997, the Russian debt crisis ...

Source : guardian-co-uk

Subprime 27/07/2011

12:49 : Hedge funds lose £100m as Provident Financial profits rise - Short-sellers gambling on lender's decline take a hit after its profits increase 15% to £62mHedge funds gambling that the share price of lender Provident Financial would fall have lost about £100m after a rise in the share price ...

Source : guardian-co-uk

Subprime 16/06/2011

19:02 : John Paulson's $9bn fund drops more than 20% as China and US bank bets ... - Hedge fund billionaire who made a fortune betting against sub-prime mortgages is set to lose millionsLosses have swept through billionaire John Paulson's hedge funds like a forest fire as big bets on a Chinese lumber firm ...

Source : guardian-co-uk

Subprime 06/06/2011

15:59 : John Paulson's Funds Have Rough May - Hedge fund manager John Paulson made his name in the subprime crisis, famously working with Goldman Sachs to create mortgage derivatives he could bet against. The outsized profits of ...

Source : ibtimes-co-uk

Subprime 18/05/2011

14:45 : Citigroup's Hedge-Fund Returns Jump as Volcker Rule Looms - Citigroup Inc., which took a $45 billion U.S. bailout after losses on subprime home loans, is boosting profits from a hedge fund that bets the bank’s money on mortgage debt -- a practice ...

Source : businessweek-com

06:30 : Citigroup Hedge-Fund Returns Jump as Ban on Prop Trading Looms - Citigroup Inc., which took a $45 billion U.S. bailout after losses on subprime home loans, is boosting profits from a hedge fund that bets the bank’s money on mortgage debt -- a practice ...

Source : businessweek-com

Subprime 06/04/2011

05:28 : SEC Fannie Mae Probe Said to Examine CEO's Testimony to Congress - As the housing market deteriorated in April 2007, Fannie Mae Chief Executive Officer Daniel Mudd reported to Congress on his company’s health. The firm’s exposure to subprime loans, he told lawmakers, ...

Source : businessweek-com

Subprime 02/04/2011

15:55 : JPMorgan, SEC in settlement talks on CDO deal - FT - CHICAGO, April 2 (Reuters) - JPMorgan Chase & Co is in settlement talks with a U.S. regulator to end a probe into how the investment bank marketed a deal involving subprime mortgages in 2007, according to the Financial ...

Source : reuters-com

Subprime 30/03/2011

04:27 : Merrill's Fakahany Has Most of $70 Million Claim for Pay Denied - Merrill Lynch & Co. former Co-President Ahmass Fakahany, who oversaw risk management as losses began to mount on subprime mortgages and bonds in 2007, was denied most of his demand for $70 million in compensatory damages, ...

Source : businessweek-com