CMBS

The American Securitization Forum (ASF) released a statement saying that the Federal Deposit Insurance Corp.'s (FDIC) action today will seriously harm the federal government’s ability to exit the U.S. housing market and to reestablish a private label mortgage market.

The Federal Deposit Insurance Corp. (FDIC) is set Monday to begin a Herculean task: creating a resolution procedure for large, systemically important firms that improves on the bankruptcy process but still resembles it enough that it does not unsettle the marketplace.

The National Credit Union Administration (NCUA) said it took under conservatorship three more troubled corporate credit unions this afternoon as part of is effort to shed the corporate system of toxic assets.

JPMorgan Chase is in the market with its JPMorgan Chase Commercial Mortgage Securities Corp. Trust Series 2010-C2. The $1.1 billion deal is managed by JPMorgan Securities.

The Association for Financial Markets in Europe (AFME) appointed Simon Lewis as its chief executive. The new hire will assume his position on Oct. 1.

House Republicans blasted the proposed Basel III capital standards on Wednesday, arguing the plan would make the system more uncertain without making it substantially more safe.

Treasury Secretary Tim Geithner on Wednesday said the U.S. would implement proposed international capital rules aimed at helping financial institutions withstand future crises by 2012.

Standard & Poor's has launched Understanding Ratings, a new information and education resource for investors found on the Web site www.understandingratings.com.

Defaults on commercial real estate loans are beginning to play a larger role in the failure of FDIC-insured institutions than construction loans, according to Trepp.

As technical director of the Financial Accounting Standards Board (FASB), Russell Golden is the person to whom financial institutions have been addressing their comment letters on a controversial proposal that would expand the use of fair value accounting.