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Securitization People and Markets

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  • Credit Suisse is planning on closing its commercial mortgage-backed securities unit.
  • Fitch Ratings has followed Moody’s Investors Service and has downgraded Lloyds Banking Group and Royal Bank of Scotland.
  • ING Groep is considering entry into the European mortgage-backed securities market for the first time, according to Martin Nijboer, head of long-term funding at the Dutch bank.
  • European banks are setting their sights on Middle East sovereign wealth funds as one of their key buyers of assets they plan to unload in coming months.
  • UniCredit Bank Austria is said to be planning to launch a covered bond denominated in euros.
  • Credit Suisse is said to have announced Wednesday that the firm will cut about 50 staffers from its commercial mortgage-backed securities group.
  • European leveraged loan collateralized loan obligations are likely to come under increasing pressure in the fourth quarter, according to Fitch Ratings.
  • The Investment Company Institute has launched ICI Global, a new trade organization that will focus on regulatory, market and other issues for global investment funds.
  • UBS has suspended its entire Delta 1 trading team as it continues to investigate the unauthorized-trading scandal that resulted in a loss of $2.3 billion to the Swiss bank.