The New York State Department of Financial Services (NYDFS) announced Thursday that Deutsche Bank had agreed to pay 2.5 billion (2.3 billion Euros) to US and UK authorities as part of a legal settlement over the bank's role in manipulating the London Interbank Offered Rate (Libor).
U.S. judge on Wednesday ruled that hedge funds suing over unpaid debt stemming from Argentina's 2002 default are entitled to details of a recent bond offering by Buenos Aires.
Spain's Santander and Deutsche Bank have failed a US stress test designed to assess whether lenders can withstand another financial crisis. The review, carried out by the Federal Reserve, gauges whether the biggest banks operating in the US have the ability to lend to households and businesses even in times of stress.
Venezuela’s state-run oil company PDVSA has started using China Citic Bank to collect money from crude and fuel sales instead of Portugal’s Banco Espirito Santo, according to media reports in Caracas.
Deutsche Bank, HSBC and Bank of Nova Scotia have been accused of attempting to rig the price of silver, in a lawsuit filed in the US. The plaintiff alleges the banks, which set the price of silver each day, abused their position in the market.
The US Federal Reserve adopted tight new rules for foreign banks to shield the US taxpayer from costly bailouts, ceding only minor concessions despite pressure from abroad to weaken the rule.
Uruguay sold 2 billion in a new 2024 global bond at a yield of 4.521% as a part of a debt liability operation that includes a debt swap, the government said on Wednesday.
Uruguay priced 2 billion dollars in 10-year benchmark sovereign bond on Tuesday at a spread of 187.5 basis points over US Treasuries as part of the government's bid to improve its debt profile, according to reports from Thomson Reuter’s unit IFR. The bond priced at 99.833 with a 4.5% coupon and 4.521% yield, according to IFR.
Eight banks are facing a US investigation into the rating of their mortgage products, the BBC understands. New York Attorney General Andrew Cuomo is looking at whether the relationship between the banks and credit rating agencies was manipulated to gain better ratings for risky securities.