Debt

Deutsche Bank is looking to cut its loan securitization business further starting with repackaged U.S. mortgages, two people familiar with the matter said, as the lender braces for a large fine in the United States for alleged mis-selling of such debt.

China’s shadow banking could lead to losses of $375bn, according to CLSA estimates of likely levels of bad debt.

Singapore’s private banks are coming under scrutiny for earning bonuses by selling risky debt, as the city sees an unprecedented wave of defaults. The central bank says an industry group is reviewing the practice.

Goldman Sachs is hosting its first ever leveraged finance conference next week as the Wall Street bank tries to strengthen its position in debt underwriting and looks for new avenues of growth.

There had been “consequences” for some employees.

Wells Fargo is downsizing its European asset-backed securities business and merging it with its credit team, according to three people familiar with the matter.