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HSBC ordered to face $34bn lawsuits

HSBC sign

HSBC was on Monday ordered to face three U.S. lawsuits accusing it of breaching its duties as a trustee overseeing residential mortgage-backed securities that suffered more than $34bn of losses in the global financial crisis.



Morgan Stanley HQ

New York City cuts Morgan Stanley

New York City cut Morgan Stanley from the ranks of its senior general obligation and Transitional Finance Authority bond underwriters, while elevating Samuel A. Ramirez & Co. and Royal Bank of Canada.