JP Morgan Chase and Credit Suisse pay $416.9m in penalties over mortgages

Fines and compensation are related to mortgage bond losses regarded as the ‘ground zero’ of the global financial crisisJP Morgan Chase and Credit Suisse will pay a combined $416.9m (£262.4m) to settle US civil charges that they misled investors in the sale of risky mortgage bonds prior to the 2008 financial crisis, regulators have said. […]
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Former Credit Suisse trader Serageldin arrested in Britain

Kareem Serageldin, 39, faces US extradition hearing amid claims he distorted value of mortgage securitiesA former Credit Suisse executive wanted in the US on fraud charges linked to distorting the value of mortgage securities during the financial crisis has been arrested in Britain.Kareem Serageldin, 39, will appear at Westminster magistrates court in London on Thursday […]
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Switzerland’s central bank warns of twin eurozone threat to Swiss economy

Swiss National Bank says it is ready to take further measures at any time to prevent ‘serious impact’ on prices and economySwitzerland’s central bank warned on Thursday that it was battling twin threats to stability of its economy from a weaker than expected banking sector and a rising currency that threatens to make its exports […]
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Credit Suisse salesman fined £210,000 by FSA

Head of European credit sales, Nicholas Kyprios, played guessing game which allowed clients to identify private information about forthcoming bond issueA senior salesman at Credit Suisse has been fined £210,000 by the Financial Services Authority for playing a guessing game with clients to enable them to identify private information about a forthcoming bond issue.Nicholas Kyprios, […]
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Credit Suisse fourth quarter losses much bigger than expected

SFr637m (£442m) loss compares with the SFr841m profit that the bank posted in the fourth quarter a year agoCredit Suisse Group announced its first fourth-quarter net loss since 2008, posting negative returns of SFr637m (£442m) that were far below what analysts had expected.Analysts’ consensus estimates were for the Zurich-based bank to post a fourth-quarter profit […]
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George Osborne exploits fall in borrowing costs to boost growth

Chancellor to move to reassure markets by declaring he is still on course to eliminate structural budget deficitGeorge Osborne will on Tuesday move to reassure the markets that he remains in control of the British economy when he declares that he is still on course to eliminate the structural budget deficit after a projected £21.5bn […]
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