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.
More From Asset Securitization Report
GSE reform, CFPB underwriting rule are on collision course
Absent some policy change, nearly a third of the loans backed by Fannie Mae and Freddie Mac could be in violation of the Consumer Financial Protection Bureau's Qualified Mortgage rule in two years.
Securitization Pros Wrap Their Arms Around an Asset Class the Size of the Globe: Trade Finance
For sheer scale of securitizable assets, its tough to beat trade finance, and banks have new incentives to get these assets off their balance sheets.
Securitization Pros Wrap Their Arms Around an Asset Class the Size of the Globe: Trade Finance
For sheer scale of assets, its tough to beat trade finance, and banks have new incentives to get these assets off their balance sheets.
Talk of Trade Finance CDOs Gets Ahead of Itself
Regulations are making trade finance CDOs more attractive, but recent press buzz surrounding the market’s potential appears to be overhyped and maybe a little amnesic. Trade finance is broadly defined as the capital that is necessary for the international flow of trade and it can take many forms. One common instrument is a bank-issued letter […]
American Express Files S-3 with the SEC
American Express has filed an S-3 with the Securities Exchange Commission to issue under its American Express Credit Account Master Trust. To view the whole SEC filing, please click here. In terms of credit card issuers, Discover Financial Services sold a $1 billion credit card offering this week backed by receivables generated from credit card […]