Supplementary Leverage Ratio Standards: An Update

August 8, 2018

WASHINGTON—Covington advised Wilmington, Delaware-based WSFS Financial Corporation in its acquisition of Philadelphia-based Beneficial Bancorp, Inc., in a transaction valued at approximately $1.5 billion. This is the second bank M&A deal in two weeks where Covington is representing the acquiring institution. Covington is also representing Dallas-based Veritex ...

November 27, 2017, Risk Magazine

Randy Benjenk is quoted by Risk Magazine in an article regarding the Basel Committee's concession that would allow national authorities to soften the treatment of derivatives liabilities in the net stable funding ratio (NSFR). “Gross derivatives liabilities is not a very good proxy for a bank’s potential future funding needs for its derivatives portfolio,” says ...

March 10, 2016

NEW YORK — Covington represented MidFirst Bank in its acquisition of 1st Century Bancshares, Inc. 1st Century is a publicly traded bank-holding company of 1st Century Bank of Los Angeles. Simultaneously with the closing of the acquisition, 1st Century Bank will be merged into MidFirst Bank.  Following these transactions, the business of 1st Century Bank will ...