Commercial banking

Credit ratings were cut on the highest number of commercial mortgage-backed securities in "recent memory" last week, according to strategists at Bank of America Corp.

The deal will issue two series of notes, which benefit from a reserve account with approximately $1.4 million, representing about 2.0% of the initial bond balance.

Simon Thompson is the author of "Green and Sustainable Finance: Principles & Practice," chair of the U.K.'s Sustainable Finance Education Charter and chief executive of the Chartered Banker Institute.

After the salvo of central bank decisions last week, traders are increasingly concerned that rising oil prices risk fanning inflation, which will make it difficult for policymakers to reduce rates anytime soon.

A combination of economic and environmental factors are sending property and flood coverage premiums soaring, which can make costs insurmountable for some.

Slated to close by September 29, the deal has total initial hard credit enhancement that amounts to 87.7% on the most senior class of notes.

Dave Etling is senior vice president and general manager of InComm Healthcare.

Kathy Davis, CPA, is a manager in the Tax Advisory Services Department of Anglin Reichmann Armstrong.

She has more than a decade of experience in public accounting, and her focus is retirement planning, estate and gift planning and preparation of complex tax returns. Contact her at kdavis@anglincpa.com.

Total hard credit enhancement of 37.45% shore up the class A notes, according to Moody's. In the rest of the deal the classes B, C and D notes benefit from total hard credit enhancement of 33.1%, 23.7% and 13.7%, respectively.

Since 2019, distressed loans have increased 77%, but it is just a small portion of the $691 billion currently outstanding.

Vara Kumar is the co-founder and head of R&D at Whatfix. Vara co-founded Whatfix with Khadim Batti in 2014 with the vision of empowering individuals and organizations to work symbiotically with technology to maximize their potential. Based in the US, Vara leads the company's strategy and vision for product development and adoptions, technology development, and innovation – helping accelerate successful integrations for partners and customers. He is passionate about building technology that users love.

The Federal Deposit Insurance Corp. Board's Vice Chair Travis Hill urged his fellow regulators Thursday to delay implementing new banking regulations until interest rates stabilize, saying rushed rules amid precarious economic conditions could impact consumer lending.

Underwriting league tables of asset-backed securities through September 21, 2023

Issuance volume of asset-backed securities for the year through September 21, 2023

Revenue from agricultural and construction equipment will secure the notes, which get a boost from a spread account and overcollateralization.

Thomas Horan is an associate at Seyfarth Shaw LLP where he advises and defends employers in numerous industries on a range of employment and labor law matters in class actions and individual-plaintiff actions.

Ada W. Dolph is a partner in Seyfarth Shaw LLP's Chicago office. She defends plan fiduciaries in ERISA class actions and has extensive experience defending against claims of unreasonable retirement plan fees.