Standard Chartered announced it has received all the required approvals that would lead to the completion of its American Express Bank acquistion from the American Express Co. The total cash amount for the acquisition is $823 million. According to a release from StanChart, the purchase will add 19 markets to the Standard Chartered business and will fast track the growth aspirations of The Standard Chartered Private Bank.
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All 244 underlying loans initially had a period of fixed rates between 60 and 120 months at origination and are currently ARMs, although none are interest-only.
April 2 -
The 30-year fixed rate climbed to 6.46% this week, its highest mark since September, as mortgage applications fell 10.4% and sellers outnumber buyers by a record 46%.
April 2 -
Banks have a lot to celebrate in the operational risk framework, but advocates warn it cuts capital too far.
April 2 -
The Department of Justice is seeking court approval to immediately fire more than 600 employees, slashing the CFPB's workforce by 53%.
April 1 -
The deal increased its initial credit enhancement levels across the board, with the A-, BBB and BB- notes benefiting from levels of 21.89%, 1.89% and 5.74%, respectively.
April 1 -
Loans originated under Sallie Mae's Smart Option loan program, which have demonstrated significantly lower default rates compared with those from the Signature program, make up the entire collateral pool.
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