CDOs

New capital requirements under the Basel III framework would have cost banks roughly $770 billion had they been fully implemented at the end of last year, according to a 32-page study released Thursday by the Basel Committee on Banking Supervision.

Bank of America Merrill Lynch is preparing a $402 million CLO to be managed by Ares Management, according to Bloomberg.

Moody's Investors Service has assigned a provisional rating to two classes of Notes issued under the €520 million ($692 million) small- and medium-sized enterprise (SME)CDO dubbed FTPYME TDA CAM 9, FTA.

SL Green Realty Corp. and Gramercy Capital Corp. agreed that SL Green will purchase investments from Gramercy for a $390.8 million aggregate price, including the assumption of $265.6 million in debt.

ABS market players have certainly learned their lesson from the problems that led to the financial crisis.

The Securities and Exchange Commission (SEC) put on hold one change that could have shuttered the ABS market starting in early January. But a long line of proposals marching into 2011 will keep ABS compliance departments busy and, in some cases, may fundamentally alter the market.

Standard Chartered Bank has completed its sixth CLO under its START CLO program called START VI CLO, according to a release from the firm.

Primus Guaranty completed the sale of its third-party asset management subsidiary CypressTree Investment Management to Commercial Industrial Finance Corp. (CIFC). Terms of the transaction were not disclosed.

The Bank of England issued a market notice indicating that it plans to move ahead with new disclosure requirements, according to a Reuters report.

Law firm Nixon Peabody has named veteran partner Craig Mills as head of its global finance practice, which it plans to expand, the firm said today.

Issuance in the CLO market picked up in the days leading up to the Thanksgiving holiday, with Guggenheim Investment Management, Apollo Global Management, GSO/Blackstone Debt Funds Management and Lyon Capital Management pricing CLOs totaling $1.7 billion.

Specialized asset management firm Dock Street Capital Management (DSCM) has opened an office in Hong Kong.

The Securities and Exchange Commission (SEC) is reportedly investigating a complex $1 billion investment deal Citigroup arranged leading up to the financial crisis.

Defunct bond insurer Syncora Guarantee reported positive net income for the first three quarters of the year, but said near-term insolvency is still a concern if its insured portfolio tumbles.

Morningside Park CLO is in the market with a $400 million arbitrage cash flow transaction that will be managed by GSO / Blackstone Debt Funds Management.

Ambac Financial Group hurried into bankruptcy protection this week because it was worried the Internal Revenue Service (IRS) might gut the entire company — including its sacrosanct bond insurance subsidiary, according to court documents.

The Financial Industry Regulatory Authority (FINRA) said it fined Goldman Sachs $650,000 for failing to disclose that two of its registered representatives had received Wells Notices, which indicate that investigations of operating practices are under way.

Ambac Financial Group announced late Monday it filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York.

At a press conference following the European Central Bank's (ECB) rate decision last week, its President Jean-Claude Trichet said that the ECB is looking to create disincentives for banks who refinance exclusively through the bank.

Markit has created the first electronic link between agent banks and lenders so that they can have real-time sharing of comprehensive agent data on syndicated loans.