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The Dodd-Frank Act's Section 939A prompts banking regulators to remove any "reference to, or requirements of reliance on, credit ratings" in their regulations and capital requirements. The uncertainty of how regulators will interpret those words has the ABS industry bubbling and proposals emerging.
March 1 -
Borrower behavior changes over time and investors and lenders should constantly adjust the way they utilize the different credit score values to accurately predict loan performance, according to officials from FICO and VantageScore.
March 1 -
Tomorrow the European Central Bank (ECB) is set to extend its minimum two-rating requirement for all existing ABS to remain repo eligible at the central bank’s window. This effectively ends the grandfathering period that started a year ago.
February 28 -
Dechert hired Lawrence Berkovich as counsel in its finance and real estate (FRE) group. He was most recently special counsel at Cadwalader, Wickersham & Taft.
February 23 -
Highland Capital Management is the latest U.S. firm to sell its European CLO assets, according to Bloomberg.
February 22 -
A Resource Capital Corp. subsidiary will purchase 100% of the ownership interests in Churchill Pacific Asset Management (CPAM) from Churchill Financial Holdings for $22.5 million, the New York-based real estate investment trust said today in a statement.
February 15 -
European structured finance products continue to absorb elevated credit risks very well from a performance standpoint, according to Unicredit analysts.
February 14 - Europe
A new rule in Europe—Article 122a of the Capital Requirements Directive, which calls for originators, sponsors or original lenders in an arbitrage CLO to retain at least 5% of the vehicle’s equity on their balance sheet—has European loan market participants worried about the future of these funds, and places a kink in a market that, after two years of inactivity, is just starting up again.
February 9 -
The Federal Deposit Insurance Corp. (FDIC) Friday named Michael Krimminger, a close aide to Chairman Sheila Bair, as the agency's new general counsel.
February 4 -
Intex Solutions introduced INTEXcalc, a new end-user application offering transparency, ease of use, and speed in analyzing structured finance securities.
February 3
