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The leadership tussle at the Consumer Financial Protection Bureau (CFPB) threatens to muzzle the watchdog or even have it put down. Many in the securitization industry would welcome that, but this newspaper is not so keen to bid farewell to Main Street's best friend just yet. -
European member states could keep securitization and covered bond SPVs out of clearing and margin requirements, according to a draft European Market Infrastructure Regulation (EMIR) compromise published last week.
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The Consumer Financial Protection Bureau (CFPB) has ordered Citi to pay $6.5m for private student loan servicing “failures”, which includes a fine and a refund to affected borrowers.
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Ally Financial has tapped Morgan Stanley alumnus and Structured Finance Industry Group (SFIG) government relations co-chair Josh Wilsusen to lead its policy strategy outreach in Washington, DC.
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UK buy-to-let (BTL) mortgages are set to undergo a green revolution, with the introduction of regulations that could create a new energy efficient UK RMBS asset class, said DBRS.
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The European Commission has published a consultation on how European banks ought to recognise their non-performing loans (NPLs), weighing in on a bitter debate between the European Central Bank and certain members of the European Parliament — and coming down broadly on the ECB’s side.
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The European Parliament’s legal service has hit back against a proposal by the European Central Bank (ECB) to make banks provision non-performing loans (NPLs) more aggressively, as analysts grilled the management teams from Italy’s largest banks on how they could handle the problem.
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Unclogging the balance sheets of Europe’s banks has been a long and painful process, and one that has inhibited the region’s growth and recovery. But, as Bill Thornhill reports, the first securitization of non-performing loans without a government guarantee by a Portuguese bank this week is a crucial development for Europe’s heavily burdened banking sector.
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Estonia, Latvia and Lithuania have signed a memorandum of understanding (MoU) to develop their capital markets and will look to draw up legal frameworks to develop covered bond and securitization markets.
