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Securitization People and Markets

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  • Denmark’s Nykredit, Europe’s largest issuers of covered bonds, says it will look to foreign investors to double ownership of the securities as a result of regulations by the Basel Committee on Banking Supervision limiting the use of the instruments toward meeting its liquidity requirements.
  • SEB Enskilda Corporate Finance has announced the establishment of a new real estate advisory, which will begin operations in September.
  • The U.K.’s Office of Fair Trading has warned subprime lender Swift to improve its lending and collections practices or risk losing its credit licenses.
  • The U.K.’s Council of Mortgage Lenders has appointed Paul Smee to succeed Michael Coogan as director general, effective Aug. 1.
  • UBS has given its real estate team a boost with the hiring of Galen Lee as managing director in Singapore and promoting Fergus Horrobin and Henry Wong.
  • Systemically important financial institutions may get a break in the borrowing rate they pay in the wholesale money market sector and the yield they need to offer investors under regulations imposed by the Basel Committee on Banking Supervision, according to Morgan Stanley analysts.
  • Moody’s Investors Service has revised its global methodology for rating cash-flow collateralized loan obligations.
  • Morgan Keegan and its Morgan Asset Management unit have agreed to pay $200 million to settle charges brought by the U.S. Securities and Exchange Commission that two staffers engaged in false valuation of subprime mortgage-backed securities.
  • Pine River Capital Management has launched its Pine River Mortgage REIT Index.