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A majority of the commercial real estate CLO's collateral has pari-passu participations, including 18 that have a related obligation for an unfunded future advance.
October 11
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These firms are seeing an uptick in demand for niche capital relief trades, according to David Snyderman, Managing Partner and Global Head of Alternative Credit and Fixed Income at alternative investment manager Magnetar Capital.
October 11
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Federal Reserve Gov. Michelle Bowman shared some of her more pointed skepticisms about potential capital changes in a speech Wednesday, saying enhanced requirements could increase systemic risk.
October 11
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The notes benefit from several credit boosters. At closing credit enhancement to the class A notes will be 21.70% of the initial pool balance, plus the pre-funding amount, and could build to 24.30% or greater.
October 11
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The current Treasury yield curve is leading homeowners to pay mortgage rates at least 120 basis points more than they should, equal to an extra $245 a month on a $300,000 loan, their letter said.
October 10
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The Federal Deposit Insurance Corp. issued a proposal requiring larger banks to implement a three-line-of-defense risk management model and increased board independence in response to observed weaknesses in corporate governance during past financial crises and recent bank failures.
October 10
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The bank recently hired Nikunj Gupta as head of credit structuring in order to strengthen its existing team. Gupta had previously headed up the European CLO primary business at Deutsche Bank.
October 10 -
The deal has a 35% cap of potential substitution and repurchase ratio, which is considered high. This runs the risk of a court recharacterizing the loan sales to depositors as a form of financing.
October 10
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The Federal Reserve's top regulator cited the financial crisis of 2008 repeatedly in a speech about the merits of new risk-capital standards — proposals that have drawn unprecedented fire from banking trade groups and members of Congress.
October 9
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Fitch notes that initial hard credit enhancement on classes A, B, C and D are 12.00%, 9.50%, 7.25% and 5.25%, respectively.
October 6
