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Banking

WireTap 0900 09/03/12

A round-up of the key stories across the specialist financial media, including news that Greece's debt swap has been agreed to by 95.7% of investors.


Private investors said to agree to swap 85% of Greek debt

The Greek government said it reached its target in the biggest sovereign restructuring in history, with a 95.7 percent participation rate among investors after it received approval to activate collective action clauses.

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BofA makes a deal on side

More than 200,000 financially strapped households will have a chance to sharply reduce their mortgage balances under a side deal negotiated by Bank of America that could allow the bank to avoid as much as $850 million in penalties.

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Chinese inflation rate drops to 3.2%

Consumer inflation in China dropped to 3.2 per cent from a year ago in February, down from 4.5 per cent in January and the lowest since June 2010.

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LSE agrees to buy stake in LCH.Clearnet for $613 million

London Stock Exchange Group has agreed to buy a majority stake in LCH.Clearnet for $613 million.

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Price war looms among big ETF providers

The three largest providers of US exchange-traded funds are aggressively slashing their management fees, fuelling a price war among asset managers for market share in the fast-growing investment business.

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