CMBS

At one of the panels at the Global ABS 2011 conference being held in Brussels this week, participants discussed the new data disclosure requirements from the European Central Bank (ECB).

There remains value in certain European ABS sectors despite their risk profile, said panelists at the Association for Financial Markets in Europe’s (AFME) and the Information Management Network’s Global ABS 2011 conference being held in Brussels this week.

The CRE Finance Council today announce the appointment of Jack M. Cohen as President of CREFC.

The epic destruction wrought by the Japanese earthquake and tsunami last March should not have a direct effect on the credit quality of Japanese REITs (J-REITs), Standard & Poor’s said in a report.

Recent Fitch Ratings’ “unsolicited assessment” of the DECO 2011-CSPK CMBS deal is an example of the harsh penalties sponsors face for ‘rating shopping’, Royal Bank of Scotland (RBS) analysts said in a recent report.

U.K. care home operator Southern Cross is in the middle of a financial restructuring that could affect several U.K. CMBS structures, according to a Barclays Capital report.

General Growth Properties (GGP) issued a press release yesterday announcing the refinancing of five shopping malls, totaling $743 million in new mortgages. The deal also provided a cash-out of $180 million that allowed a total of $563 million in existing mortgages to be refinanced.

The U.S. delinquency rate for commercial real estate loans in CMBS experienced its biggest decrease in two years, falling by 5 basis points to 9.60% in May, according to figures reported by Trepp LLC.

The Basel Committee on Banking Supervision finalized its review of the Basel III standard for capital treatment for counterparty credit risk in bilateral trades and plans to modify the risk weighting of credit valuation adjustment (CVA), which is the risk of loss caused by changes in the credit spread of a counterparty due to changes in its credit quality.

Morgan Stanley and Bank of America have begun marketing a $1.2 billion CMBS deal.