Finance

The Loan Syndications and Trading Association is asking regulator to recognize a category of higher quality leveraged loans that would not be subject to proposed risk retention rules.

The Education Finance Council (EFC) said today that non-profit student loan organization should be exempt from the 5 percent credit risk retentions rules.

In the third quarter, seven of the 15 top-performing “legacy” CLOs rated by Moody's Investor Service were managed by Credit Suisse Asset Management.

An increase in demand for private student loans will have a positive impact on private student loans asset backed securities, according to Deutsche Bank.

Governor Andrew M. Cuomo yesterday announced appointees to the Long Island Power Authority utility debt securitization board.

CarMax Auto Owner Trust 2013-4 was upsized to $1 billion from $800 million and priced within guidance.

Moody’s Investors Service said that it has raised its credit enhancement requirement for CMBS ratings as deals are increasingly structured with exposure to credit risks.

If the “irrational restriction of credit” in today’s market continues, the effect on the economy could be greater than the losses seen during the crisis, says Lewis Ranieri.

RBS Securities and Wells Fargo plan to issue a $796.9 million CMBS conduit deal dubbed WFRBS 2013-C17.

Fitch Ratings said today that it would “likely cap its ratings at the ‘A’ level” REO-to-rental securitizations.

There’s a string of auto-related securitizations coming to market right now. Apart from the deals due to close this week — from the likes of Ally, Honda, Nissan & Ford BMW and Porsche have just motored into the pipeline.

CarMax is expected to price its $800 million auto loan securitization deal dubbed CarMax Auto Owner Trust 2013-4 by mid-week, according to a pricing document.

Adding a 30% downpayment requirement to the qualified residential mortgage rule would only increase the cost of credit for borrowers seeking private loans, the MBA says in a comment letter.

RBS Securities is lead underwriter on the deal dubbed Sierra Timeshare 2013-3. Fitch Ratings has assigned preliminary ratings of ‘A’ to the transaction’s class A notes and ‘BBB’ ratings to the class B notes.

Appalachian Power Co. in West Virginia filed a registration statement with the US Securities Exchange Commission to issue a $382 million utility tariff rate relief bond.

For the first time in five years the annualized charge-off rate for non-securitized receivables has exceed that of securitized receivables, according to Moody’s Investors Service.

Deutsche Bank and Cantor Fitzgerald priced $1.2 billion of bonds collateralized by 63 commercial mortgage loans.

Chase Bank plans to issue a new $500 million credit card receivables securitization from Chase Issuance Trust, according to a deal prospectus filed with the US Securities and Exchange Commission.

Higher residual values can amplify the losses to ABS transactions if used vehicle prices were to decline sharply, according to a Moody’s Investor Service report.