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Norton Rose Fulbright and Katten have added to their legal teams
Asset manager wants to offer more products to institutional investors
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Ford Motor Credit has offered $1.5 billion of five-year asset-backed securities with what has been called an unusual structure: It will convert to senior unsecured credit if two of the three major credit rating agencies raise its rating to investment grade.
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Proposed regulations for commercial mortgage-backed securities could result in “a dramatic curtailment of CMBS activity,” according to Morgan Stanley analysts.
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Michael Liodra, the former global head of structured product collateralized debt obligations at JPMorgan Chase, may face legal action over collateralized debt obligations he sold in 2007.
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The Federal Reserve closed the discount window to banks on the verge of collapse, according to analysis of Fed documents.
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Transparency in covered bond collateral pools should be bolstered, with more detailed and higher quality information made available to potential investors, according to officials at the International Capital Market Association in London.
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Banks globally have made significant progress in upgrading risk oversight since the crisis but are lagging in reforming pay practices, according to the Institute for International Finance.
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The U.K.’s Council of Mortgage Lenders said new regulatory initiatives dealing with mortgages from the Financial Services Authority, the European Union and the Financial Stability Board are creating conflict and confusion. “
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National Australia Bank is said to be in talks with NBNK Investments and BBVA among others to team up with it to buy the more than 600 branches of Lloyds banking Group up for sale.
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Germany’s NordLB has followed the example of rivals Deutsche Bank and Commerzbank to boost its capital base ahead of scheduled stress tests.