Bloomberg: Six Banks Fined $2.3B by EU for Rate Rigging
Bloomberg reported that six international banks were fined a record $2.3 billion by the European Union for rigging rates linked to LIBOR.
Bloomberg reported that six international banks were fined a record $2.3 billion by the European Union for rigging rates linked to LIBOR.
EMCOR Group announced it entered into a $1.1 billion credit agreement with a syndicate of banks led by BMO Capital Markets, BofA Merrill Lynch, U.S. Bank, JPMorgan Chase and RBS Citizen’s.
Bloomberg reported the six biggest U.S. banks have allotted more than $100 million to cover litigation and settlement expenses since the financial crisis. Europe’s largest banks have racked up more than $77 billion.
Reuters reported that JPMorgan Chase said it agreed to pay $4.5 billion to settle claims by investors who lost money on mortgage-backed securities before the collapse of the U.S. housing market.
Taubman Centers announced that JPMorgan Chase acted as bookrunner, administrative agent and joint lead arranger for a new $475 million unsecured term loan.
Revel AC announced that the company completed an amendment and restatement of its existing first lien credit. JPMorgan Chase acted as administrative agent.
Bloomberg reported that a former JPMorgan banker who managed Bernard Madoff’s account said Madoff was set to get a $200 million loan less than a month before his arrest if the request hadn’t been dropped.
Bloomberg reported JPMorgan Chase said the U.S. Department of Justice is conducting at least eight separate investigations into the bank’s activities.
The Wall Street Journal reported that a multibillion-dollar settlement between JPMorgan Chase and the U.S. over soured mortgage bonds is may collapse due to disagreements over a criminal probe.
Bloomberg reported that JPMorgan Chase, Citigroup and Commonwealth Bank of Australia arranged a $650 million credit line for News Corp., which will expire in October 2018.