Some of Canada’s largest banks have agreed to pay fines totaling close to $140 million relating to their involvement in the sale of Asset-Backed Commercial Paper (ABCP) in the summer of 2007.
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Two major Wall Street firms
liam05 4 weeks 6 days 21 hours 29 min ago
Two major Wall Street firms on Thursday offered to buy back more than $17 billion of troubled auction-rate securities that testking certification exam they had marketed as being as safe and liquid as cash, moving quickly to contain the legal fallout from the credit crisis. Citigroup will buy back $7.3 billion of the securities and pay $100 million in fines testking server as part of a settlement with state and federal regulators announced on Thursday morning. Hours later, Merrill Lynch, without entering into a settlement, offered to buy back $10 billion of similar securities testking ccie that it had sold to thousands of individuals. Neither firm agreed to reimburse institutional investors.