Commercial banking

Investors are set to start the week scrambling to decide if President Joe Biden's decision to end his reelection campaign and endorse Vice President Kamala Harris increases or decreases Donald Trump's chances of regaining power. 

Patrick McCoy is the Director of Finance at the Metropolitan Transportation Authority (MTA) in New York where he manages the Authority's debt portfolio (currently $35 billion) and directs the issuance of over $2 billion in tax-exempt municipal bonds annually under the Authority's multi credit borrowing structure. The MTA is an active issuer of debt obligations to finance the bond funded portion of MTA's Capital Program. Pat has previously served as the Executive Director of the New York City Municipal Water Finance Authority, a public benefit corporation of the City of New York that provides capital financing for the City's water and sewer system. Pat was Executive Director of New York Water from January 2007 through August 2008.Previous positions include:Deputy Director of Finance for the MTA, 2002 through 2004, and Director of Finance, 2004 — 2007.Manager of Investor Relations for the NewPower Company, a publicly traded retail energy provider headquartered in Purchase, New York. Mr. McCoy was involved in NewPower's initial public offering and listing on the New York Stock Exchange. 2001 — 2001.Manager of Investor Relations for the New York City Municipal Water Finance Authority, the Transitional Finance Authority (TFA) and TSASC, Inc. (Tobacco Securitization), 1994 — 2000. Pat created the first investor relations program for the Authority.Senior Budget Analyst, Office of Management and Budget, Community Development Unit. 1991 — 1994.Pat currently serves on the Board of Directors of the Westchester County Health Care Corporation and on the Executive Board of the Government Finance Officer'sAssociation of the United States and Canada (GFOA).Pat holds a M.S. Degree in Urban Policy Analysis and Management from the New School University in New York, and a B.A. from St. Ambrose University in Davenport, Iowa.

Leslie M. Norwood is Managing Director and Associate General Counsel of the Securities Industry and Financial Markets Association. She has served the Association or its predecessor organizations for over 10 years. As the Co-Head of the Municipal Securities Division, Ms. Norwood is responsible for the legal, regulatory and market practice initiatives of the Association relating to all municipal securities products.Prior to joining the Association, Ms. Norwood was an Associate in the Corporate and Securities department at Greenberg Traurig. She also spent 6 years as an Associate in the Public Finance department of Sidley Austin LLP (formerly known as Brown & Wood LLP) where she represented bond issuers, borrowers and underwriters in fixed and variable rate transactions; general obligation, subject to appropriation and revenue bond (public power, education, health care and cultural institutions) transactions; and transactions with credit enhancement. Ms. Norwood received a B.A. from the University of California, Berkeley and her J.D. from Boston University School of Law. She is a member of the New York, New Jersey and California Bars.

The energy company has asked banks to arrange calls with investors on Monday to discuss the offering. That makes it a candidate to sell debt as soon as Tuesday.

Alec Connon is the coalition director of Stop the Money Pipeline.

Hugh Frater was one of four appointed to the Bipartisan Policy Center board, along with former Philadelphia Mayor Michael Nutter, a co-chair of its Housing Council.

Yields on the notes are expected to range from 6.0% on the A-rated tranche to 11.4% on the BB- tranche, maturing in July 2024.

Amy Gallagher is managing director at UHY Consulting, She leads UHY's Resources Solutions Group in the Southeast and has over two decades of experience in recruitment consulting.

RTLs are generally short-term, interest-only bridge loans extended to real-estate investors, while the ABS deals provide investors with a premium and less prepayment risk.

The guidance is largely unchanged from what the agencies proposed last year. It directs institutions to craft policies that consider a wide array of potential shortcomings.

With the Federal Reserve poised to cut rates as soon as September, investors poured $245 billion overall into active and index mutual funds and exchange-traded funds in the first half of the year, according to Morningstar Direct.

Issuance volume of asset-backed securities for the year through July 18, 2024

Underwriting league tables of asset-backed securities through July 18, 2024

Reijo Pold is the Estonian-born, London-based founder of Value Space, a technology company that uses satellites to conduct assessments for commercial properties and infrastructure.

Royalty revenues account for virtually all the program's incoming securitized collections, at 95.5%, with fees on initial contracts and other income accounting for 4.5%.

Conventional trucks with sleeper compartments make up the largest exposure to the collateral, with a 24.3% slice of the pool, and virtually all of the 3,549 underlying contracts are backed by personal guarantees.

Steve Sonnenberg is the CEO and Co-Founder of Awardco, the fastest-growing rewards and recognition company in the world. Steve is passionate about improving the workplace and is excited by what the future holds for the rewards and recognition industry.

For at least the fifth consecutive quarter, the Providence, Rhode Island, company increased its allowance for credit losses on general office loans, which continue to be a problem area for banks.

Leandro DalleMule is general manager at Planck, acquired by Applied Systems. He brings 30 years of experience in business management to the team. Prior, he spent six years as AIG's chief data officer. He also was the senior director of big data analytics for Citibank and head of marketing analytics for BlackRock and held leadership roles in Deloitte's advanced analytics practice.