The Australian Securities and Investments Commission told 13 fund managers that they had to make changes to their funds’ marketing, which the regulator said could leave already vulnerable investors at risk of unanticipated losses.
U.S. Bancorp and Wells Fargo performed the worst for struggling U.S. mortgage borrowers at the height of the COVID-19 pandemic, according to a new analysis published Tuesday by an advocacy group for front-line bank employees.
New issuances of covered bonds in Europe, where they are most common, are expected to fall in the second half of 2020, as central bank stimulus provides a competitive new source of funding for banks, S&P Global said.
Although tropical-storm activity through August reached record levels, the biggest threat to Caribbean property and casualty insurers’ profitability this year is the COVID-19 pandemic, AM Best said Friday.
The National Credit Union Administration reported a second-quarter equity ratio close to dangerous levels as a result of the pandemic, and temporarily amended lending regulations for U.S. real estate transactions.
A growing alliance of financial institutions involving some of the biggest banks in the world said Thursday it is zeroing in on carbon accounting in the U.K. with a new coalition, after its presence in the country nearly doubled in members, to include Lloyds Banking among them.
The U.K.’s top financial regulator proposed that banks freeze new interest payments and other charges for struggling borrowers who are continuing to face hardships due to COVID-19.
A subsidiary of Japanese conglomerate ORIX will buy a portfolio of properties covered by low-income housing tax credits, as the company seeks revenues from a sector which has proven resilient to economic downturns in the past.
Indian property and casualty insurer ICICI Lombard General Insurance has partnered with Yes Bank on a deal to sell coverage using the lender’s nationwide branch network, the latest in a push for growth.
Deutsche Bank Trust Company Americas will pay more than a half-million dollars in two settlements with the U.S. Department of the Treasury to resolve investigations into alleged violations of Ukraine-related sanctions.
Rocket Companies Inc. said Wednesday that its online mortgage lending subsidiary Quicken Loans will issue and sell $1.25 billion of senior notes due in 2029 and 2031, just over a month after the company went public on the New York Stock Exchange.
DBS said on Thursday that it launched a business property mortgage loan pegged to the Singapore Overnight Rate Average, the first of its kind in Singapore, as the city-state transitions in the adoption of the new benchmark interest rate.
Arch Capital Group has turned to the bond market for the second time this year to reinsure its $32 billion U.S. mortgage pool, amid signs of heightened credit risk within the private mortgage insurance sector.
Climate change is likely to force U.S. real estate investment trusts to make adjustments to portfolios as related insurance costs rise, particularly for properties in California and along the East Coast, Moody’s said.
The U.S. Department of Justice will recover more than $60 million in additional assets involving funds allegedly tied to the 1Malaysia Development Berhad bribery and money laundering scheme, settling cases involving the stepson of ousted Malaysian Prime Minister Najib Razak.
Singapore’s United Overseas Bank and CapitaLand have entered into an agreement for a two-year, SGD 200 million ($146.6 million) term loan pegged to both the Singapore Overnight Rate Average and the Secured Overnight Financing Rate.
The U.S. financial sector is seeing a moderate rebound led by a surge in mortgage lending, but the end of federal unemployment benefits and growth in permanent layoffs are slowing the overall economic recovery, the Federal Reserve said.
Independent mortgage bank profits soared to their highest level since 2008 in the most recent quarter, even as COVID-19 headwinds keep pushing down demand for new home loans, according to the Mortgage Bankers Association.
Cryptocurrency bank Sygnum said on Tuesday that it received regulatory approval from Switzerland to introduce a digital asset trading facility.
PIMCO, the eighth-largest U.S. asset manager, said a “flood” of investors could rush to unload mortgage-backed securities if Fannie Mae and Freddie Mac are released from conservatorship without addressing potential credit risks.