CDOs/CLOs

Treasury Secretary Tim Geithner on Wednesday said the U.S. would implement proposed international capital rules aimed at helping financial institutions withstand future crises by 2012.

Federal Deposit Insurance Corp. (FDIC) Chairman Sheila Bair said Wednesday that the Basel Committee on Banking Supervision's new capital plan should have been tougher.

Markit will be providing liquidity metrics and composite liquidity scores for European ABS and leveraged loans that are covered by its pricing services, according to a release from the firm.

Although the Basel Committee on Banking Supervision provided clarity on new international capital standards this weekend, the panel left some crucial questions unanswered, including how it plans to calculate certain requirements for the most systemically risky institutions.

Citigroup has arranged a $600 million CLO that will be managed by Guggenheim Investment Management, according to sources.

The U.K. Financial Services Authority (FSA) will apply banking book risk weights to securitization trading positions following the position adopted under the capital requirements directive (CRD 3) passed by the European Parliament at the end of July.

Federal Deposit Insurance Corp. (FDIC) Chairman Sheila Bair said Tuesday the agency would soon publish an interim rule on its new resolution authority over systemically important banking companies and certain nonbanks.

Fitch Ratings stated that as of July 20 defaults on U.S. bank Trust Preferred Security (TruPS) CDOs eclipsed the 14% mark on 11 new bank defaults.

The securitization market just can't seem to get a break. From tougher regulations to a battered economy, our industry seems at times to be facing an all-out assault.

While it's clear that tighter rules for securitization are on their way, varying approaches to the issue by different agencies are making bankers and issuers uneasy.