Archive for the ‘Securitization’ Category
CMBS investors have thin(ner) skins in the game
Friday, November 20th, 2009ECB to Tighten ABS Requirements
Friday, November 20th, 2009The European Central Bank on Friday announced its first active step to unwind the extraordinary stimulus measures it has used to support the financial sector since the global crisis last year.
The bank said it will tighten the standards by which it accepts certain asset-backed securities as collateral for its refinancing tenders.
Read the whole story @ WSJ
Bank resumes sales of mortgage debt
Friday, November 20th, 2009Bank of America Corp. plans to sell $460 million of securities backed by commercial real estate without relying on a US program to aid lending, three days after the first sale of the debt in more than a year.
Backed by mortgages on office and industrial properties in Florida, the bonds are split into four portions, the largest of which is $350 million of top-rated debt, according to people familiar with the matter. Fortress Investment Group LLC is the sponsor on the transaction.
Read the whole story @ The Boston Globe
FDIC May Tie Underwriter, Rater Pay to Asset-Backed Performance
Thursday, November 19th, 2009The Federal Deposit Insurance Corp. may force underwriters and raters of asset-backed securities created by banks to be compensated based on the bonds’ performance, an agency official said.
Such a requirement may be part of new rules for bank securitizations that the FDIC staff proposes at an agency board meeting next month, Michael Krimminger, special adviser for policy to FDIC Chairman Sheila Bair, said today in a telephone interview.
Read the whole story @ Bloomberg
Aladdin Capital buys Solent CDO business
Wednesday, November 18th, 2009Aladdin Capital, a U.S.-headquartered boutique investment bank, has bought the structured credit business of European specialist credit management firm Solent Capital, the bank said on Tuesday.
The acquisition includes nine synthetic collateralised debt obligations (CDO) managed by Solent Capital, which was one of the largest synthetic CDO credit businesses in Europe
Read the whole story @ Reuters