Crusade for benchmark private label RMBS too ambitious, say bankers

By Ryan Bolger
12 Nov 2014

Michael Stegman, counsellor to the US Treasury secretary, this week continued his push for a benchmark transaction that could resurrect the private label securities (PLS) market but some market participants say his pitch is a little too ambitious.

The Treasury is been discussing how deals could be structured in talks with issuers, institutional investors and service providers, and hopes to have a term sheet finalised for a benchmark deal by the end of the year, Stegman said during a conference hosted by the Structured Finance Industry ...

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