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WASHINGTON - Almost as soon as the news broke that some of the largest U.S. banks had agreed to create a fund to relieve problems in the commercial paper market, proponents of the Basel II capital accords began arguing that the situation would have looked significantly different had the new standards already been in place.
October 29 -
No surprise here: ABS East Conference delegates are concerned that the weakness in the subprime mortgage market is expanding to affect the overall market for securitized assets, according to an Information Management Network survey.
October 29 -
As of press time, remittance data was out for 19 of the 80 ABX reference deals and not surprisingly October brings more headaches to the mortgage market. For all four indices, the average size of the monthly increase continued to grow, Deutsche Bank analysts said in a report.
October 29 -
Utility companies once turned to the securitization industry to recover what it called stranded costs - actually stranded profits - as they surrendered monopolies in their respective markets through mandatory deregulation.
October 29 -
The securitization market completed about $9.8 billion in transactions during the last two weeks, according to data from UBS. Although that amount is a fraction of what is normally issued in any given two-week period, traders and issuers appear to be getting used to it.
October 22 -
New issuance in the U.S. CDO market remains dormant amid continued ratings instability. But the center of gravity seems to be moving east for CDOs as an increasing number of transactions are popping up overseas, particularly synthetic structures.
October 22 -
The Brooklyn U.S. attorney has started an investigation into the collapse of the two Bear Stearns hedge funds - its High Grade Structured Credit Strategies Master Fund and its High Grade Structured Credit Strategies Enhanced Leverage Master Fund - that had subprime exposure, sources familiar with the matter said.
October 22 -
About a month ago, amid the turmoil that caused about $80 billion in securities to evaporate from the structured investment vehicle (SIV) market, Moody's Investor's Service suggested that bank sponsorship might make the difference between normal operations and the wind down of much of that market.
October 22 -
Production volume in the securitization market was low last week, as market participants came off of the third quarter's end and a holiday weekend. Still, distressed-debt funds and choosy investors kicked up enough dust to let the market know they would be choosy about the kinds of debt they buy, at least for the time being.
October 15 -
Independent data and trade processing firm Markit launched the first tranched LCDX last Wednesday, with market players forecasting that a new crop of investors would take an interest in the product and create liquid trading conditions.
October 15
