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Securitization People and Markets

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  • Nomura Holdings is said to be raising a $500 million collateralized loan obligation, which will be managed by Invesco.
  • Fannie Mae has expanded the imminent-default standard used under the Department of Treasury’s Home Affordable Modification Program to include non-HAMP modification evaluations for borrowers who are either current or in default but fewer than 60 days delinquent.
  • Michel Barnier, the European Union’s commissioner for internal markets, denied media reports that banks would be allowed to count more of the capital in their insurance units to meet requirements adopted by the Basel Committee on Banking Supervision under a draft law under consideration.
  • The Bank of England may be reduced to merely enforcing European Union regulations, according to top banking officials.
  • The U.K. Institute for Public Policy Research says the Financial Services Authority mortgage reform does not go far enough to regulate the market.
  • Germany’s HSBC Trinkhaus is said to be looking to acquire the structured finance and corporate customers business of WestLB, the German lender.
  • Macfarlanes, the U.K. law firm, has hired Rachel Kelly as a structured-finance and debt-capital markets partner, effective next month.
  • Holliday Fenoglio Fowler has named Andrew Seng as managing director in the mortgage-banker’s debt-replacement group.
  • Allied Irish Banks is selling €700 million book ($986.6 million) of its €7.6 billion ($10.71 billion) U.S. commercial mortgages to The Blackstone Group and Wells Fargo.