CDOs/CLOs

Three years after the onset of the financial crisis, securitization market players are now focusing more on finding different restructuring options for ABS deals, according to the Henderson Global Investors' structured products team.

Fitch Ratings said today that it has made changes to its global rating methodology for CDOs backed by trust preferred securities (TruPS).

Fitch Ratings stated that defaults on U.S. bank TruPS CDOs eclipsed the 14% mark on 11 new bank defaults.

While the call for the creation of a catastrophic insurance fund for MBS has been gaining ground in recent weeks, two leading Federal Reserve Board economists are poised to push the concept one step further, suggesting a backstop for all ABS.

In 2Q10, CLO obligor concentration risk decreased slightly in outstanding Standard & Poor's-rated U.S. cash flow deals, the agency said in a recent report.

Mayer Brown appointed Dominic Griffiths as the new head of the banking and finance group in London.

The Royal Bank of Scotland has reportedly sold a €1.4 billion ($1.8 billion) portfolio of leveraged loans to Intermediate Capital Group.

Moody's Investors Service reiterated Monday that the possible bankruptcy of Ambac Financial Group is unlikely to affect policyholders of its bond insurer subsidiary.

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.