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Proposed 10% limit on interest would strip out most of securitizations' excess spread
Implementation necessary after wide-ranging changes last year
It is not enough to just undo some of the European Commission’s more controversial proposals
Despite a tepid response in a 2024 consultation, there are signs EU authorities are laying the groundwork
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The Federal Reserve this week revised its Term Asset Backed Securities Loan Facility (TALF) to include a broader pool of leveraged loans eligible as collateral, a move that will clear the backup in warehouses but likely will not do much to reinvigorate the market. -
As the June West Texas Intermediate crude oil futures contract’s expiry nears, the US Commodity and Futures Trading Commission has warned trading venues, clearinghouses and futures commission merchants that negative commodities futures prices could return.
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New ABS contracts are being written to exclude pandemics from the scope of ‘force majeure’ clauses, inserted to allow servicers to step away from their commitments if events outside of their control – such as the outbreak of Covid-19 – stop them from servicing portfolios.
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China has taken a long-awaited step towards opening its real estate investment trust (Reit) market, publishing rules for a pilot programme. The regulators are understandably starting small, but the guidelines don’t do enough for companies that need to list Reits the most.
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The Federal Reserve on Tuesday announced new details for its Term Asset Backed Lending Facility (TALF) and Paycheck Protection Program (PPP) and is planning monthly updates for the duration of each program to identify borrowers, amounts borrowed and interest charged for loans backed by eligible ABS assets.
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The Bank of International Settlements has indicated that regulators may need to review central counterparty clearing house margin policies after the coronavirus crisis.
