CDOs/CLOs

While the Basel II process dragged on for years, international and domestic regulators appear intent on delivering a new set of capital and liquidity standards on time by yearend.

Defunct bond insurer Syncora Guarantee last week reported positive net income for the second quarter, reflecting the broad success of the major restructuring it initiated in July 2009 and completed in April.

The New York Supreme Court on Monday denied Credit Suisse’s motion to dismiss MBIA Insurance Corp.’s claims of mortgage-related fraud and breach of contract.

Cecile Houlot joined Morgan Stanley as managing director and head of its European securitization effort within the global structured solutions group.

Even as they begin dropping credit ratings as a supervisory source, regulators signaled Tuesday they are worried about abandoning their use altogether, suggesting that potential alternatives are not much of an improvement.

Insurance holding company Ambac Financial Group reported a net loss in the second quarter, despite big gains in the value of its insured derivatives, and warned that it may be unable to pay its debts in a year.

Regulators are poised next week to start moving away from reliance on the tarnished credit rating agencies in the supervisory process, but finding other options likely will be difficult.

An affiliate of Apollo Capital Management has chosen U.S. Bank as trustee, collateral administrator and custodian for its recent ALM Funding 2010-1 deal, according to a press release issued by U.S. Bank.

Assured Guaranty late Thursday posted second-quarter earnings that were the insurer’s best since its initial public offering in 2004.

U.S. Bank Corporate Trust Services hired Joseph Giordano as senior vice president and manager of its CDO business.