BlackRock managed the year's largest sale of legacy mortgage assets Tuesday. Credit Suisse submitted a winning bid and quickly resold as much as 40% of the U.S. mortgage paper it bought.
Citizens Financial Group Inc., the U.S. subsidiary of Royal Bank of Scotland Group Plc, raised $3 billion in its initial public offering, pricing the shares below the marketed range.
Bank of America Corp. trading executives David Moore and David Hartney departed as the firm prepares to eliminate fixed-income and equities jobs worldwide, according to people with knowledge of the moves.
After four straight quarters of declines, Citigroup's fixed-income revenue a major income source for its investment banking arm is stabilizing, chief financial officer John Gerspach said Monday.
Bank of America raised $3 billion in its second trip to the debt market since agreeing to pay almost $16.7 billion in fines for faulty mortgage practices that contributed to the credit crisis.
A diverse group including troubled borrowers, low-income renters, mortgage-bond issuers and investors in those bonds will get a boost from new Treasury efforts to keep capital flowing in the mortgage market.
Bank of America Corp. failed to win dismissal of two government lawsuits in which it's accused of misleading investors about the quality of loans tied to $850 million in residential mortgage-backed securities.
JPMorgan Chase & Co. is planning a $303.7 million sale of U.S. home-loan bonds without government backing, adding to evidence that the market for the securities is beginning to pick up steam.
Freddie Mac has long struggled to compete with larger rival Fannie Mae because the former's mortgage-backed securities trade at a discount to the latter's. Their new regulator may change that.
Collateralized loan obligations outperformed in the crisis. If regulators can exempt a vast swath of mortgages from risk-retention requirements, surely they can do the same for senior, secured corporate loans.
Prices for loans underlying commercial mortgage-backed securities held steady over the past month, according to DebtX, which operates an online marketplace for loan sales.