Latest news
Latest news
Despite a tepid response in a 2024 consultation, there are signs EU authorities are laying the groundwork
European and high yield chiefs to take the reins
Kevin Duignan to retire after 33 years, mainly in structured finance
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Container lessor Textainer Group has completed its $400 million fixed-rate asset-backed notes.
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Stefano Loreti, a senior asset-backed securities portfolio manager at Cairn Capital, has reportedly left the firm.
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Erste Abwicklungsanstalt, the bad bank set up to sell off WestLB’s assets, reduced the lender’s credit portfolio by 56% and its toxic-securities exposure by 43% in 2011.
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UniCredit Bank Austria is planning to launch a EUR500 million ($656.6 million), seven-year covered bond.
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WestLB is planning on moving the assets of Westimmo, its real estate finance affiliate, to Erste Abwicklungsanstalt, its bad bank, after the German lender was unable to sell the firm.
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The Federal Reserve has issued a consent cease and desist order and assessed a $6 million civil money penalty against the Bank of New York Mellon related to allegations that the bank breached “certain representations and warranties” made to Federal Reserve of Boston in connection with its participation in the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility.
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Bank of America is said to be considering another bulk sale of foreclosed home to shrink its inventory of distressed assets, it second in the past several months.
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Nearly all bankers (96%) say stress testing has not addressed all important risks to the banking system, according to a survey by software firm Sybase.
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Some 33 trade groups that include the American Bankers Association, the American Securitization Forum and the Mortgage Bankers Association have joined forces to ask Richard Codray, the director of the Consumer Financial Protection Bureau, to adopt a broad definition of “qualified mortgage” and to set clear qualified-mortgage standards as part of regulations due later this year.