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The Financial Accounting Standards Board has amended earlier statements, Nos. 133 and 140, with a recently issued one, No. 155, that addresses the accounting treatment for hybrid financial instruments that contain derivatives.
February 27 -
Fewer subprime borrowers rolled into new loans during the first month of this year compared with December, despite lower interest rates offered by mortgage companies, according to a Friedman Billings Ramsey & Co. report released last week.
February 27 -
The average subprime mortgage rate was 7.73% last week, representing a nine basis point drop from the average in January but still higher than levels seen last summer, according to JPMorgan Securities Inc.
February 27 -
General Motors Corp. took another ratings hit last week when Moody's Investors Service lowered its corporate rating by one notch to B2 with a negative outlook.
February 27 -
Innovation within the U.S. tobacco settlement bond sector led Fitch Ratings last week to revise a portion of its rating criteria.
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The uncertainty surrounding the future performance of subprime interest-only loans is getting a lot of attention from analysts lately, with mostly upbeat news for investors.
February 27 -
Year to date as of 02/23 Term (days) 02/17 02/20 02/21 02/22 02/23 1-week
February 27 -
Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Citigroup 2,936.6 1 45.8 4 JP Morgan 1,349.4 2 21.0 2 Wachovia Corp 939.0 3 14.6 2 Royal Bank of Scotland Group 781.9 4 12.2 1 Goldman Sachs & Co 411.2 5 6.4 1 Industry Total 6,418.2 - 100.0 5 Source: Thomson Financial
February 27 -
Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Credit Suisse 3,107.4 1 30.3 4 Morgan Stanley 1,979.5 2 19.3 8 Banc of America Securities LLC 1,153.4 3 11.2 3 Deutsche Bank AG 1,000.0 4 9.7 2 Merrill Lynch & Co Inc 991.5 5 9.7 3 Citigroup 820.5 6 8.0 1 UBS 800.0 7 7.8 1 Bear Stearns & Co Inc 327.2 8 3.2 1 JP Morgan 92.0 9 0.9 2 Industry Total 10,271.5 - 100.0 25 Source: Thomson Financial
February 27 -
Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Banc of America Securities LLC 1,948.3 1 30.5 2 Citigroup 1,850.0 2 28.9 2 Deutsche Bank AG 1,250.0 3 19.5 3 JP Morgan 849.9 4 13.3 4 Morgan Stanley 250.0 5 3.9 1 Wachovia Corp 249.9 6 3.9 1 Industry Total 6,398.2 - 100.0 9 Source: Thomson Financial
February 27
