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Barclaycard (/ ˈ b ɑːr k l i k ɑːr d,-l eɪ-/; stylised as barclaycard) is a brand for credit cards of Barclays PLC. It is considered as the United Kingdom’s first and now biggest credit card provider with 5 million accounts.
On July 1, 2008, the company announced the sale of its home lending division to Lone Star Funds for $1.5 billion in cash and the assumption of $4.4 billion in debt and the sale of its manufactured housing loan portfolio, with a face value of $470 million in loans, to Vanderbilt Mortgage and Finance for approximately $300 million. [17] [18]
The sale was conditional on the Fed's lending Bear Sterns US$29 billion on a nonrecourse basis. [ 4 ] IndyMac Bank, America's leading Alt-A originator in 2006 [ 5 ] with approximately $32 billion in deposits, was placed into conservatorship by the Federal Deposit Insurance Corporation (FDIC) on 11 July 2008, citing liquidity concerns.
In the spring of 2007, New Century ran into financial difficulties, and trading of its stock on the NYSE was halted. On April 2, 2007, it filed for Chapter 11 bankruptcy. [ 4 ] In July 2010, three officers of the company agreed to pay $90 million in settlements and were barred from serving as directors of public companies for five years.
In finance, securities lending or stock lending refers to the lending of securities by one party to another.. The terms of the loan will be governed by a "Securities Lending Agreement", [1] which requires that the borrower provides the lender with collateral, in the form of cash or non-cash securities, of value equal to or greater than the loaned securities plus an agreed-upon margin.
EquiLend is a securities lending platform started in late 2001 by a consortium of leading financial services institutions. [2] Founding members included Barclays Global Investors , Bear Stearns , Goldman Sachs , JPMorganChase , Lehman Brothers , Merrill Lynch , Morgan Stanley , Northern Trust , State Street , and UBS Warburg .
Hilltop Holdings is a financial holding company that provides business and consumer banking services from locations all around Texas via its primary subsidiary, PlainsCapital Bank. A wholly owned subsidiary of PlainsCapital Bank, PrimeLending, provides mortgage lending services with offices throughout the United States. Hilltop Securities Inc ...
In the 1990s, Barclays helped to fund President Robert Mugabe's government in Zimbabwe. [48] The most controversial of a set of loans provided by Barclays was the £30 million it gave to help sustain land reforms that saw Mugabe seize white-owned farmland and drive more than 100,000 black workers from their homes.