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  • The level of bad loans held by Spanish banks rose to 8.37%, or EUR148 billion ($188 billion) in March, the highest level since September 1994, according to the Bank of Spain.
  • Spain’s Finance Ministry is said to be planning to require the nation’s banks to swap preferred shares for ordinary shares or convertible bonds and will set the swap-ratio criteria.
  • The underlying properties in the troubled £188 million ($297.4 million) Alburn Real Estate Capital 6 U.K. commercial mortgage securitization look set to be sold off.
  • Deutsche Bank and Cantor Fitzgerald are said to be preparing to sell $824 million in commercial mortgage-backed securities in the coming days.
  • Fitch Ratings has downgraded 35 bonds in 24 U.S. commercial mortgage-backed securities from C and CC to D, indicating it expects the bonds to default. Principal write-downs prompted the downgrades, says Fitch.
  • Deutsche Bank and Cantor Fitzgerald are said to be preparing to sell $824 million in commercial mortgage-backed securities in the coming days.
  • Fitch Ratings has downgraded 35 bonds in 24 U.S. commercial mortgage-backed securities from C and CC to D, indicating it expects the bonds to default. Principal write-downs prompted the downgrades, says Fitch.
  • Santander U.K.’s prime residential mortgage securities deal Fosse 2012-1 has publicly sold two slices of AA-rated bonds, the first U.K. RMBS to do so since the crisis, signaling that issuers are now willing to meet buyside demand for paper further down the capital curve.
  • The Federal Reserve Bank of New York has put off a $1.67 billion sale of collateralized debt obligation holdings from its Maiden Lane III portfolio that was scheduled for today.