What Risk Retention Means for CMBS, Autos, CLOs
Risky mortgage lending may have triggered the financial crisis, but final risk retention rules go much easier on mortgages than securitizations of other kinds of assets.
CDOs
Regulators Unveil Final Risk Retention Rule
U.S. regulators finalized a securities risk retention rule on Tuesday designed to set the stage for the future of the secondary mortgage market.
Four Key Questions about Risk Retention Rules
Regulators are finally ready to unveil a final risk retention rule, but whether the new regulation provides enough certainty to jumpstart the mortgage securitization market is an open question.
Regulators to Finalize Long-Awaited Risk Retention Rule
Regulators will unveil a long-awaited final rule next week that requires lenders to retain some of the risk for loans they securitize, a critical part of the Dodd-Frank Act that the agencies have struggled to implement.
Unsolicited Ratings Encouraged More in Theory than in Practice
Which opinion is more reliable: A well-informed one tainted by financial arrangements or one free of such conflicts but based on limited data and possibly colored by spite?
ABS East 2014: Jury’s Still Out on Price Dissemination
Some participants at the ABS East conference sponsored by Information Management Network are not convinced transparency will boost liquidity.
ABS East 2014: Liquidity is Good, for Now
Bonds backed by auto loans are widely viewed as the most liquid sector of the asset backed market, according to a survey at the ABS East Conference, sponsored by Information Management Network
ABS East 2014: Securitization Shrugs off Electronic Trading
Participants at the ABS East conference dont expect asset-backed securities or other kinds of structured finance to change hands online anytime soon.
Europe Pipeline Gets Portuguese 875 SME CLO
BANIF Banco Internacional do Funchal S.A plans to place 875 million ($1.12B) of securities backed by a pool of current accounts and term loans that BANIF granted to Portuguese self-employed and small and midsize enterprises (SMEs).
European Leveraged Loan Issuance at YTD Record: Dealogic
Issuance of European syndicated corporate leveraged loans stands at record $53.7 billion for the year to date, according to Dealogic.
SEC to Vote on More Loan-Level Disclosure
On Wednesday the Securitization and Exchange Commission will consider whether to adopt rules revising the disclosure, reporting and offering process for all things asset-backed.
Barclays Sees Spreads on European CLOs Tightening in 2H
European collateralized loan obligations underperformed other types of securitization in the region in the first half of 2014, but Barclays expects CLOs to catch up on some of the ground they lost.
ASR Update
In this week’s newscast, S&P warns on buyback risk in new RMBS; New York’s highest court will soon rule on whether investors can pursue breach claims on pre-crisis RMBS; and CLO participants expect issuance to top 2013 levels.
Babson CEO Finke: CLOs Often Unfairly Judged
At an IMN conference, Tom Finke laid into a recent article in Fortune likening CLOs to both CDOs and troublemaking legacy RMBS. His message is CLO pros have to be better self-advocates.
Euro Regulators to Heed Latest Call for More Securitization
Barclays analysts believe the regulators will find it hard to ignore a call last week by the European Central Bank (ECB) and Bank of England (BoE) to ease the rules governing securitization activity in Europe.
Memo to Regulators: Restricting CLOs Could Stifle Economy
Creating a one-size-fits-all approach to collateralized loan obligations does not harm Wall Street, it harms American businesses.
ASR News Update
In this week’s newscast: SolarCity preps 2nd securitization, Wells Fargo ups its CLO issuance forecast, & Lawton Camp Joins Kaye Scholer.
Inching Toward Finale on FATCA
The latest update to the Foreign Account Tax Compliance Act appears to grandfather most collateralized loan obligations issued before January 2013.
SFIG Seeks Extension of Comment Period on Reg AB
The Structured Finance Industry Group wants more time to evaluate proposed revisions to rules governing reporting and disclosure requirements for asset-backed securities.
ASR News Update
In this weeks newscast: the first securitization of clean energy bonds is on the way; CLO issuance is picking up; and Guggenheim hires a CLO pro.
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