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Collateral damage

17 April 2013 By Dominic Elliott

The Japanese bank earned some 88 mln euros in fees from a repo with Monte dei Paschi in 2009, prosecutors allege. Repo deals are usually cheap. If the figure is true, this deal cost a high 3 pct – more in line with a risky underwritten rights issue. Nomura needs to unravel the puzzle.

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