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The securitization industry is preparing to strike back at a U.S. Court of Appeals ruling that allows the Federal Deposit Insurance Corp. (FDIC) to ignore a credit card ABS trust contract’s ipso facto clause, which would have triggered an early amortization of outstanding notes from defunct credit card issuer NextBank. The Bank of New York, […]
With spreads tightening and less money to be made, securitization professionals are increasingly looking to reduce costs. This environment has driven market players to look for structuring alternatives that help run programs as cheaply as possible. Offshore centers have responded to the call with clever structuring that provides some cost saving alternatives. Maples and Calder […]
Deutsche Bank Securities hired Hyung Myung Peak from RBS Greenwich Capital as a managing director and head of private-label CMO trading and Adam Yarnold from UBS as a director and head of ARM trading. Both new hires report to Managing Director Anilesh Ahuja, head of MBS trading at Deutsche Bank. Assured Guaranty Corp. has hired […]
Computershare Limitedannounced it has completed purchase of the assets of the internet-based data reporting service absreports.com from Jersey-based professional services firm Mourant Limited. Computershare intends to add new features and additional content to absreports.com and to broaden the appeal of the product to other structured finance markets.