Latest news
Latest news
Japanese bank poaches Barclays structured credit sales director
'The lessons of the financial crisis should not be forgotten,' spokesperson warns
The point of 'Simple, Transparent and Standardised' is that these deals are safe
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Sens. Jack Reed (D-R.I.) and Chuck Grassley (R-Iowa) are introducing legislation that would give the U.S. Securities and Exchange Commission authority to impose bigger penalties on violators of securities laws.
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The four largest U.S. banks have been able to reduce their tax liabilities and bypass stringent regulations by creating more than 10,000 subsidiaries globally over the past 22 years, according to the Federal Reserve Bank of New York.
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Alliance Data reported that its World Financial Network Credit Card Master Note Trust has issued $700 million in two series of public, fixed-rate term asset-backed securities.
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BNY Mellon has appointed Wim Hautekiet to succeed Paul Bodart as ceo of the Bank of New York Mellon, its European banking entity. Hautekiet has been deputy general counsel for BNY Mellon for Europe, the Middle East and Africa.
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Honda’s last asset-backed securitization, Honda Auto Receivables Owner Trust 2012-3, traded at the lowest spreads in five years, a sign that market conditions have made auto-based ABS still issuer-friendly.
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Delinquencies of loans in U.S. collateralized debt obligations declined for the second consecutive month falling from 13% in May to 12.3% last month, according to Fitch Ratings.
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Donald Mullen, who left as head of Goldman Sachs’ credit and mortgage business within its securities unit in January, is planning to launch Fundamental REO Access, a new fund that will purchase foreclosed homes with an eye toward renting them out.
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Morgan Stanley is planning to reduce the size of its fixed-income business, with structured credit and investment-grade securitization possibly affected, according to Ruth Porat, the bank’s cfo.
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Mortgage originations were up 37% to $205.8 billion in the second quarter from a year earlier at the nation’s four largest lenders, Wells Fargo, JPMorgan Chase, Bank of America and Citigroup.