The policy move will allow small institutions participating in the Paycheck Protection Program to pledge business loans as collateral to obtain advances.
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Ratings agencies are projecting slightly increased bond losses for American Honda Finance Co.’s next billion-dollar auto-loan securitization.
May 15
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Unlike other asset-backed issuers in the auto or mortgage sector, SoFi was able to market SoFi Professional Loan Program 2020-C Trust without additional investor protections above what it offered in deals closed before the COVID-19 outbreak.
May 14
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The agency's announcement came one day after the agency said it would provide borrowers struggling to stay current with an additional payment deferral option.
May 14
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But market observers remain unsure whether changes to the $100 billion Term Asset-Backed Securities Loan Facility program will boost CLO investor demand or new-deal issuance, given key restrictions that remain in place.
May 13
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Eligible borrowers can add the forborne payments to the end of their loan term.
May 13
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The head of the U.S. central bank said its emergency credit programs were not designed to prop businesses up over the long term.
May 13
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The central bank will disclose information on a monthly basis about its Term Asset-Backed Securities Loan Facility and its Paycheck Protection Program Liquidity Facility.
May 12
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Fitch Ratings on Tuesday sharply downgraded all of Hertz Global Holdings’ outstanding asset-backed bonds, amid growing doubts that the rental car company can pay off the notes in the event of a COVID-19 pandemic-driven bankruptcy.
May 12
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Rick Thornberry is looking to the lessons from the Great Recession and applying them to current conditions.
May 12
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The agency is being methodical in its rollout of the Main Street Lending Program in hopes of avoiding missteps that followed the launch of other coronavirus relief efforts. But observers say delaying aid brings its own risks.
May 11
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Banks could end up holding many low-rate Paycheck Protection Program loans on their books for two years, and dealing with irate borrowers who failed to meet federal requirements for forgiveness.
May 11
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An indefinite closure of New York retail businesses during the COVID-19 pandemic added credit pressure on revenue bonds issued for the state’s largest mall.
May 11
