ABS

The Treasury Department plans to announce details within the next two weeks on the creation of a public-private partnership for purchases of toxic assets, Treasury Secretary Timothy Geithner said Wednesday.

A stir of activity in a petrified landscape, Banco Internacional del Peru (Interbank) plans to close a two-tranche structured deal for up to $150 million by the beginning of April.

While Spanish banks have launched a stream of guaranteed issues, Dresdner Kleinwort analysts said, those hoping for this to signal a sufficient buying interest in Spanish names, which would potentially also help the Cedulas (covered bond) market stage a revival, are likely to be disappointed.

The finalized details of the U.K. government's Homeowner Mortgage Support Scheme (HMSS) remove some of the uncertainty around RMBS deals, Fitch Ratings analysts said.

House Democrats have agreed to a compromise on pending bankruptcy/cramdown-related legislation that gives preference to interest rate reductions over reducing the loan amount.

Over one-third of outstanding U.S. prime and Alt-A credit RMBS may have bankruptcy carveouts, Fitch Ratings found as part of its review of the cramdown legislation's potential effects on current RMBS transactions.

Cantor Fizgerald, a private partnership, may be one of the smallest of the Federal Reserve’s primary dealer firms, but it certainly has big plans.

The Market Composite Index, an overall measure of mortgage applications, decreased 12.6% on a seasonally adjusted basis to 649.7 from 743.5 for the week ended Feb. 27, according to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey.

President Obama's administration announced new U.S. Department of the Treasury guidelines to allow servicers to start modifications of eligible mortgages under the administration's Homeowner Affordability and Stability Plan.

NewOak Capital has partnered with Fundamental Credit Capital Partners (FCCP) by naming its founder Candice Workman Nonas a managing director at NewOak Capital.

In the two weeks since announcing its restructuring, MBIA said its public finance company has already received five requests to provide bond insurance in both the primary and secondary market.

Securities Litigation and Consulting Group (SLCG) hired Joseph Prendergast as principal in its Virginia office.

GMAC Financial Services today announced that Jeffrey Brown has been appointed to the position of corporate treasurer.

Moody's Investors Service reported that the U.K. credit card charge-off index is exhibiting a marginally increasing trend while the delinquency index generally rose in the past year.

The Australian Securitization Forum (ASF) appointed lawyer Stuart Fuller as its new chairman.

The Bank of New York Mellon completed its acquisition of JPMorgan Trust Bank in Japan.

Fitch Ratings awarded Oakwood Global Finance a European residential master servicer rating and special servicer rating.

As part of the U.S. government's Financial Stability Plan, the Department of the Treasury and the Federal Reserve Board just announced additional terms that would clarify the application of the Term Asset-Backed Securities Loan Facility (TALF).

Cantor Fitzgerald & Co. promoted Shawn Matthews to the position of CEO. He had served as head of its capital markets group. He will be responsible for Cantor’s debt capital markets, investment banking and equity capital markets businesses.

Critics of the Obama administration's loan modification proposal say that it would not adequately address consumers' nonmortgage debt loads or the second liens on their homes, and that many borrowers would end up defaulting again.