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  • BBA Statement Regarding Emails Released By The Bank Of England

    Date 20/07/2012

    In respect of the BBA 2008 consultation document on LIBOR

    The BBA said:

    "In its emails the British Bankers' Asociation was drawing the attention of the Bank of England to the need for strong governance being a feature of the BBA's Libor consultation and the BBA's desire that the Bank of England should play a formal role in the process going forward. The BBA was proposing that a similar invitation be extended to the FSA and to other key central banks. The involvement sought was their presence at the independant FX and MM committee. The view of the BBA was that, given the importance of LIBOR,  a formal role for the Bank of England and others was a necessary part of the future governance process and we were requesting their assistance.The Bank declined and we understood that they had discussed this issue with other authorities as well. At their request this reference was therefore removed from the document.

  • Bank Of England: Further Information And Correspondence In Relation To The BBA Libor Review In 2008

    Date 20/07/2012

    At the hearing on Tuesday 17 July, the Treasury Committee requested papers relevant to the Bank of England’s interaction with the US Federal Reserve and with the British Bankers’ Association (BBA) Libor Review in 2008. To allow the Treasury Committee to see the full context, this submission contains all papers relevant to the BBA Review. It provides a brief commentary and timeline of the events around the BBA Review in 2008, together with the supporting documents.

  • State Street To Acquire Goldman Sachs Administration Services - Acquisition Expected To Make State Street Leading Hedge Fund Administrator Globally

    Date 20/07/2012

    State Street Corporation (NYSE: STT), one of the world’s leading providers of financial services to institutional investors, announced today that it has agreed to acquire Goldman Sachs Administration Services (GSAS), a leading hedge fund administrator, from The Goldman Sachs Group, Inc. (NYSE: GS) in a cash transaction with a total purchase price of $550 million, subject to certain adjustments. Pending regulatory approvals and other customary closing conditions, the transaction is expected to be finalized early in the fourth quarter of 2012. State Street expects the transaction to be accretive in the first full year of operation on a cash basis. Through dedicated teams globally, State Street provides a comprehensive suite of middle office, fund administration, risk analytics and credit services to hedge funds, private equity funds, real estate funds and institutional investors. State Street’s Alternative Investment Solutions (AIS) team has more than 3,000 employees in multiple offices around the world.

  • S&P Dow Jones Indices Announces Changes To The S&P/TSX Canadian Indices - A Deletion From The S&P/TSX Venture Composite And Venture Select Indices

    Date 20/07/2012

    S&P Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices:

    The Toronto Stock Exchange announced yesterday in the Daily Bulletin that the shares of Temple REIT (TSXVN:TR.UN) will graduate to trade on TSX at the open of trading on Monday, July 23, 2012. The ticker symbol will remain "TR.UN" and the CUSIP number will remain 880018 10 6. The company will be removed from the S&P/TSX Venture Composite Index after the close of trading on Friday, July 20, 2012.

  • BATS 1000 Index Posts Modest Weekly Gain

    Date 20/07/2012

    BATS Global Markets, a leading operator of securities markets in the U.S. and Europe, reports the BATS 1000® Index (Ticker: BATSK) rose 27.74 points, or 0.2%, thisweek to close at 15,317.74 as of 4 p.m. ET today.