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Stock Market & Financial Investment News

News Breaks
July 21, 2014
17:47 EDTCS, AFAstoria Financial to sell non-performing residential mortgages to Credit Suisse
Astoria Financial (AF) announced that the bank had entered into an agreement to sell certain non-performing residential mortgage loans, or NPL, to Credit Suisse (CS) for consideration of approximately $186M. The NPL Sale is expected to close on or about July 31, subject to usual and customary closing conditions. In anticipation of the NPL Sale, such non-performing loans were designated as held-for-sale as of June 30 and were written down from their carrying value of approximately $195M to their estimated fair value of $186M. As a result, the company recorded an $8.7M charge-off and a $5.7M loan loss release in Q2.
News For AF;CS From The Last 14 Days
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September 3, 2015
09:11 EDTCSEurope has to wait at least five years before bank consolidation, Reuters says
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August 31, 2015
06:35 EDTCSCiti plans to rebuild equities franchise, Reuters reports
Citigroup (C) is planning to rebuild its equities franchise in an effort to capitalize on a retrenchment by rivals in the face of new rules created to make the financial system less risky, Reuters reports, citing people familiar with the bank's plans. It may be tough to overcome leaders such as Goldman Sachs (GS), Morgan Stanley (MS), and JPMorgan Chase (JPM), that have long dominated the sector, the report says. Citi is aiming to profit from a retreat of rivals slow to adapt new rules forcing banks to keep more capital, the report says. Deutsche Bank (DB), Credit Suisse (CS), and Barclays (BCS) are among others rebuilding their investment banking businesses, the report adds. Reference Link
06:10 EDTCSBanks lobby EU over privacy rules overhaul, FT reports
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August 27, 2015
06:23 EDTCSGoldman hiring 'several hundred' employees for Warsaw units, Reuters reports
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