Ally Bank gets the green light from regulators to fund more subprime auto loans with deposits; and CommonBond hires leveraged finance veteran Morgan Edwards as CFO.
More From Asset Securitization Report
FDIC’s Hill aims to cut regulation, halt climate efforts
In a speech outlining his priorities for the FDIC, Vice Chair Travis Hill stressed the need for a more flexible regulatory approach, addressing capital requirements, digital assets, climate policy, and bank oversight, while emphasizing transparency and timely action.
Great bank asset sale is a boon for bond market: credit weekly
The latest round of global capital rules, known as Basel III endgame, is expected to make a whole slew of loans more expensive for banks to hang onto, so the lenders are bundling more auto loans, and other kinds of debt into asset-backed securities.
Is Ally’s leap into subprime credit cards worth the risk?
Investors are reacting skeptically to the auto lender's deal to acquire CardWorks for $2.65 billion.
Most BDCs will need time to boost lending capacity
At least 25 business development companies have obtained board approval to increase leverage in line with a new regulatory limit, but most are subject to a one-year cooling-off period, according to DBRS.
SEC makes it easier for middle market lenders to tap securitization market
A conflict between risk retention rules and prohibitions against self-dealing were limiting options for some lenders to hold skin in the game; a no-action letter issued to Golub Capital creates a "clear path" to compliance.
