The Michigan Department of Treasury is planning to issue $415 million in asset-backed securities secured by tobacco funds. The mid-August transaction would raise a total of $527 million, and the state would dispense about $415 million of that to the School Aid Fund and the general fund, according to press reports. A portion of the funds will also help stave off a potential cashflow deficit, which state officials worried could occur this month.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
3h ago -
With a high proportion of fixed-rate, interest-only underlying loans, the notes have almost no amortization, and three CRE loans have standalone, investment-grade opinions.
7h ago -
The fixed-rate loans are divided into three sub-pools that relied on rating methods from the RMBS, CMBS and ABS sectors to assess their risks.
April 18 -
The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
April 18 -
The portfolio does not have any meaningful originations that have completed a full repayment cycle, making the company's performance data thin.
April 18 -
Formerly of Wells Fargo, she will coordinate several key units to create a structure for a sustained capital markets program that capitalizes on recent innovation and growth in home equity finance.
April 17