HALISTER1: *RLJ LODGING & FELCOR LODGING TRUST TO MERGE IN ALL-STOCK DEAL

*RLJ LODGING & FELCOR LODGING TRUST TO MERGE IN ALL-STOCK DEAL

Alert: HALISTER1
Source: BN (Bloomberg News)

Tickers
FCH US (FelCor Lodging Trust Inc)
RLJ US (RLJ Lodging Trust)

People
Leslie Hale (RLJ Lodging Trust)
Michael Hughes (FelCor Lodging Trust Inc)
Robert Johnson (RLJ Cos/The)
Ross Bierkan (RLJ Lodging Trust)
Steven Goldman (FelCor Lodging Trust Inc)

Topics
Key Comm. Real Estate News

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UUID: 7947283

HALISTER1: Another Nordic Bank Pulls Up Drawbridge on Correspondent Banks

Another Nordic Bank Pulls Up Drawbridge on Correspondent Banks

(Bloomberg) -- Handelsbanken has slashed the number of lenders with which it does correspondent banking by 65% since 2013 amid rising risks, according to Linn Lister, head of AML/KYC and regulations.
  • Handelsbanken has cut ties with around 2,000 correspondent banks, with deepest cuts made from 2013-2015
  • Intention is to minimize chances of being used for money laundering and financing of terrorism and “to have a lower general risk exposure with a more efficient and robust group of correspondents,” thereby reducing transfer and political risk “in certain jurisdictions”
  • Handelsbanken exited relationships “which we were not feeling comfortable with or ones that weren’t contributing to our (customers’) core business(es),” Lister says
  • NOTE: April 11, SEB Says Banking Network Shields Baltic Ops From Deutsche Exit; March 24, Nordea Cuts Correspondent Banking in Half as High Risk Area

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
SHBA SS (Svenska Handelsbanken AB)

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UUID: 7947283