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Securitization People and Markets

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  • Systemically important financial institutions may get a break in the borrowing rate they pay in the wholesale money market sector and the yield they need to offer investors under regulations imposed by the Basel Committee on Banking Supervision, according to Morgan Stanley analysts.
  • Moody’s Investors Service has revised its global methodology for rating cash-flow collateralized loan obligations.
  • Morgan Keegan and its Morgan Asset Management unit have agreed to pay $200 million to settle charges brought by the U.S. Securities and Exchange Commission that two staffers engaged in false valuation of subprime mortgage-backed securities.
  • Pine River Capital Management has launched its Pine River Mortgage REIT Index.
  • Crédit Agricole Corporate and Investment Bank has hired Jaime Frontera as managing director in the firm’s New York-based loans syndication group, focusing on the Latin American market.
  • KGS-Alpha Capital Markets is expanding into esoteric securitizations with a team from Aladdin Capital Holdings.
  • Investors in European asset-backed securities deals are facing a busy next few weeks as issuers press investors to vote on changes needed to bring existing transactions up to speed with revised Standard & Poor’s counterparty criteria.
  • Colin Walsh is leaving as managing director of mortgages at Lloyds Banking Group to become chairman of the U.K.’s Council of Mortgage Lenders.
  • Colin Walsh is leaving as managing director of mortgages at Lloyds Banking Group to become chairman of the U.K.’s Council of Mortgage Lenders.