Javelin Mortgage Started at Buy, RBS Settles With US & UK Regulators: Financial Business Review
The stock markets in New York may be closed Monday, but the recently gone-public Javelin Mortgage Investment (NYSE:JMI) is started at Buy at both Citigroup and Deutsche Bank in a bright spot for the embattled mortgage real estate investment trust sector. ARMOUR Residential (AMEX:ARR) externally manages Javelin.
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Regulators in both the United Kingdom and in the United States are hoping to obtain resolutions with one or even two additional banks by the end of 2102 over claims that they manipulated Libor along with other interbank interest rates, says The Financial Times. The Royal Bank of Scotland (NYSE:RBS) should be one of the banks to settle with the agencies, and it anticipates having to pay as much as £300 million.
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