Latest news
Latest news
Key points of contention include the investor sanctions regime and the definition of 'resilience'
Magnetar and Chorus Capital lose experienced pros
Vida Bank is also building up its funding team
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Yorkshire Building Society, a U.K.-based thrift, is set to launch its first foray into the residential mortgage-backed market with a new deal called Brass No. 1.
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Investec, the South African bank, says it saw its costs related to bad Irish debt nearly double to £97 million ($157.4 million) in 2010.
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The European Securities and Markets Authority’s new rating agency endorsement regime—a series of stringency tests to determine if credit ratings made outside the E.U. can be permitted into the region—will give some leeway to ratings that fall short of the E.U. standards. The move comes after industry professionals voiced fears that a wholesale block on non-E.U. ratings would trigger disruption to securitization markets.
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Redwood Trust expects to issue two more private-label residential mortgage securitization deals this year, Martin Hughes, president and chief executive, told the Senate Banking, Housing & Urban Affairs Subcommittee on Securities in Washington today.
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Barclays Capital has hired Jonathan Wu from JPMorgan as a v.p. in the securitized products origination group.
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The U.K. Financial Services Authority is taking its own view on how the E.U.’s financial markets reforms should be implemented, penning a fresh plan to allow “group” compliance on new rules slated to hit the global securitization industry.
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The Bank of England is expected to unveil a new approach to financial regulation that in effect would abandon the Financial Services Authority’s so-called “traffic light” system of oversight.
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U.K. banks that fail to meet their pledge to lend more could face additional taxes, David Cameron, the British prime minister, hinted at a parliamentary committee meeting.
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Lloyds Banking Group has named BNY Mellon Corporate Trust as trustee agent for its standalone U.K. residential mortgage-backed security.