Items Tagged with 'BNP Paribas'


  • FDIC wins $190M settlement for toxic Countrywide mortgage bonds

    Settlement stems from failure of five banks
    The ghosts of Countrywide past just struck again, as the Federal Deposit Insurance Corporation announced Thursday that eight major financial institutions will pay $190 million total to settle a series of lawsuits tied to toxic Countrywide mortgage bonds that subsequently led to the failure of five banks during the housing crisis.
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  • DOJ, BNP Paribas reach $8.8B settlement

    BNPP might not be alone
    The U.S. Department of Justice announced an $8.8 billion settlement with BNP Paribas to settle charges that the French bank hid $30 billion in transactions that violated U.S. sanctions. And BNP Paribas might not be the only large financial institution at fault.
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  • Deflect and Absorb: Measuring the Greek Afterburn on American Markets

    In examining the implication of the Greek debt crisis on the American financial markets, there are several points that continue to go unnoticed. Underneath the veneer of market hysteria reports, with some suggesting that a collapse of the Greek financial structure is proof of the vulnerability of the GSEs, it appears a good time to put everything in perspective. First, take a deep breath.
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  • And the biggest loser is ...

    There are plenty of league tables out there about who lost how much on what deal; we've covered and or seen most of them by now. What we haven't seen -- at least, until now -- is a look at just how those losses stack up against employees. The editors at financial news site Here is the City put together a look at how write-downs and related credit losses stack up per wholesale banking employee at key financial firms worldwide. The largest loser?
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  • Vive Les Subprime Credit Crunch: BNP Paribas Freezes Funds

    Woes in US mortgage markets reached into France today, with BNP Paribas SA joining the likes of Bear Stearns in halting three investment funds due to what it said was difficulty in valuing their holdings. Per Bloomberg: BNP Paribas SA, France's biggest bank, halted withdrawals from three investment funds because it couldn't "fairly" value their holdings after U.S. subprime mortgage losses roiled credit markets.
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