Printer Friendly

-Deutsche Bank unit sued for alleged violations over mortgage-backed securities.

Global Banking News-March 29, 2013--Deutsche Bank unit sued for alleged violations over mortgage-backed securities(C)2013 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 29 March 2013

DB Structured Products Inc, a unit of Deutsche Bank AG (NYSE: DBK), has been sued for selling defective loans to a securitisation trust.

HSBC Bank USA NA (LSE: HSBA), which is acting as the trustee, has asked that DB Structured Products be instructed to pay unspecified money damages or buy back the faulty loans. The loans had acted as collateral for certificates issued by the trust.

The trust said that at least 1,302 of more than 4,000 loans securitised and sold to the trust, breached the bank unit's guarantees.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

((Distributed via M2 Communications - http://www.m2.com))
COPYRIGHT 2013 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2013 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Global Banking News (GBN)
Date:Mar 29, 2013
Words:140
Previous Article:-Ulster Bank says it has solved mobile banking issue.
Next Article:-Federal Reserve says mobile banking services increasing in popularity.
Topics:

Terms of use | Privacy policy | Copyright © 2022 Farlex, Inc. | Feedback | For webmasters |