The Royal Bank of Scotland has reached a US$153.7 million settlement with the US Securities and Exchange Commission over an investigation into its mortgage-backed securities.
A US$4.3 million arbitration award to a broker who was encouraged by his former firm to sell securities that later failed could spawn similar complaints from other brokers.
The Hong Kong Monetary Authority will review its restrictive mortgage policies in light of the falling property market, but it has no immediate plans to relax them, said its chief...
If there is any doubt that Hong Kong property is slipping into a down cycle, one needs only to look at the evaporation of capital available to the city's big real estate developers.
Pimco's Total Return Bond Fund experienced problems throughout the first half of 2007.
Asian offshore bonds continue to provide unique credit stories, which are relatively immune to the recent ripples from the United States sub-prime mortgage crisis.
Beijing has approved the issuance of mortgage-backed securities in a bid to develop the domestic bond market, improve banks' balance sheets and boost mortgage lending, industry sources said.
THE first major property sale of the year received a lukewarm response yesterday, with mortgage sellers almost outnumbering home buyers.