CDOs

The leveraged loan market experienced a lackluster year in 2011, with returns down and bids float in both the U.S. and Europe, according to Markit.

Federal regulators are seeking comment on a proposal that aims to lessen banks' reliance on credit ratings by proposing three methods for assessing risk on firms' trading books.

Investors behind three CDOs – Cedarwoods CRE CDO III, Concord Real Estate CDO 2006-1 and Resource Real Estate Funding CDO 2006-1 – filed a lawsuit this week to block a junior lender from exercising the fair value purchase option on the $150 million defaulted loan secured by JW Marriott Las Vegas Resort & Spa securitized in CSMC 2007-TFLA, according to a New York court filing.

Mickael Le Gargasson, Societe Generale’s director of acquisition and leveraged finance for the Asia Pacific region has left the firm, according to reports.

The American Securitization Forum (ASF) will have California Congressman Ed Royce and Arizona Congressman David Schweikert as keynote speakers at its ASF 2012.

UBS has hired Mike Weir, a veteran of Citadel Securities, as a loan trader.

Financial analysts are unfazed by Moody's Investors Service's downgrade of MBIA and National Public Finance Guarantee Corp. (NPFG).

JPMorgan named a new head of its leveraged finance group in North America, the bank confirmed.

Apollo Global Management said today it agreed to acquire Stone Tower Capital, an investment firm that manages 12 CLOs, for an undisclosed sum.

KeyBanc Capital Markets has hired Steve Rielly from UBS to oversee loan trading, ASR sister publication Leveraged Finance News has confirmed.

Moody's Investors Service has assigned provisional ratings to three series of notes issued by BBVA EMPRESAS 6.

Morgan Stanley and MBIA have settled a series of lawsuits.

The European Central Bank (ECB) has relaxed its collateral requirements for repo eligibility in a move that encourages new ABS activity.

The MF Global collapse provides an important lesson concerning the effectiveness of the principal or proprietary banking model.

Federal regulators took another step Wednesday toward lessening banks' reliance on credit ratings by proposing three methods for assessing risk on firms' trading books.

JPMorgan has raised a $304.9 million CLO for Prudential Investment Management, according to people familiar with the situation.

Morgan Stanley has raised a $353.8 million CLO for New York Life Investment Management, according to a presale report from Standard & Poor’s.

DBRS has created the position of chief credit officer, Canadian structured finance and appointed Jerry Marriott to this role as of Dec. 1.

Analysts anticipate little fallout from Standard & Poor's downgrade of Assured Guaranty.

As the European sovereign crisis and uncertainty in the U.S. housing market play havoc with the prices of securitizable assets, appraising risk seems as easy for investors as threading a needle while riding a rollercoaster.