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Volkswagen also added a UK auto ABS to the primary
Invictus, Annaly, JP Morgan to print a billion dollars each next week
UK lender has placed €1.5bn of Dutch prime RMBS paper this year, doubling its annual issuance
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Planned regulatory changes in the U.S. could make it tougher for European issuers to sell securitizations to U.S.-based investors, according to Kenneth Kohler, partner at Morrison & Foerster.
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Fitch said on Wednesday that proposed UK ringfencing rules would push banks to rely more on secured funding — and that senior unsecured would comprise a permanently lowered proportion of bank funding.
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Some investors stayed away from the newest residential mortgage-backed securitization from Redwood Trust, the $368 million Sequoia Mortgage Trust 2011-2, because it carried credit ratings from just one agency, Fitch Ratings.
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The expected news of U.S. Federal Reserve’s so-called Operation Twist has strategists at the Royal Bank of Scotland urging clients to buy longer-dated agency pass-throughs and collateralized mortgage obligations, a move Jeana Curro’s team said could be smart even if the Fed’s third round of economic stimulus fails to materialize.
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The Independent Community Bankers of America has called for a moratorium on mergers and acquisitions involving financial institutions $100 billion or more in assets.
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The Obama administration again is considering imposing a fee on the nation’s largest banks to pay for losses from the government’s Troubled Asset Relief Program.
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Investors in residential mortgage-backed securities will not feel the impact of rising foreclosures until 2013, predicts DBRS.
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Redwood Trust is said to have raised the interest rate on the senior class of its $375 million residential mortgage-backed securities deal from 3.6% to 3.9%.
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Senior bondholders in the legacy Stichting Holland Homes Oranje I and II Dutch residential mortgage-backed securitization are said to have green-lighted plans to restructure the transactions in order to stave off a ratings downgrade.