Barclays has acquired Lehman Brothers' US investment banking and capital markets businesses, including its derivatives operations, for $250 million.
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The cost of protection on credit default swaps (CDSs) referenced to the world’s largest financial institutions has skyrocketed as Lehman Brother’s bankruptcy has heightened counterparty credit risk concerns.
The liquidation of Lehman Brothers will be the largest bankruptcy in history, with the defunct investment bank holding consolidated assets of $639 billion and liabilities of $613 billion as of May 31, 2008, according to court documents.
Bank of America announced today it will acquire Merrill Lynch in a $50 billion all-stock deal, rounding off an explosive weekend on Wall Street.
Unwinding the hundreds of billions of dollars worth of assets and liabilities held by Lehman Brothers could take years, according to Tony Lomas, a partner at PricewaterhouseCoopers (PWC), which has been appointed administrator to Lehman Brothers International,...
In response to industry fears of a collateral crunch, regulators have revised the proposed rules on margining for uncleared over-the-counter (OTC) derivatives.You can find out more by downloading this white paper here.
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