Latest news
Latest news
This is the second RMBS deal from the PIF-backed issuer
Volkswagen also added a UK auto ABS to the primary
Invictus, Annaly, JP Morgan to print a billion dollars each next week
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The European Securities and Markets Authority’s new rating agency endorsement regime—a series of stringency tests to determine if credit ratings made outside the E.U. can be permitted into the region—will give some leeway to ratings that fall short of the E.U. standards. The move comes after industry professionals voiced fears that a wholesale block on non-E.U. ratings would trigger disruption to securitization markets.
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Lead managers Barclays Capital, JP Morgan, Morgan Stanley and Santander GBM gathered orders of £5.5bn equivalent for Santander UK’s Fosse 2011-1.
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A vote is scheduled for June 14 to resolve the dispute resulting from GSC Partners’ Chapter 11 bankruptcy protection filing and ensuing battle for control of $8 billion in collateralized loan obligations and related assets (TS, 11/5), according to court filings viewed by TS.
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Redwood Trust expects to issue two more private-label residential mortgage securitization deals this year, Martin Hughes, president and chief executive, told the Senate Banking, Housing & Urban Affairs Subcommittee on Securities in Washington today.
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The U.K. Financial Services Authority is taking its own view on how the E.U.’s financial markets reforms should be implemented, penning a fresh plan to allow “group” compliance on new rules slated to hit the global securitization industry.
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The Bank of England is expected to unveil a new approach to financial regulation that in effect would abandon the Financial Services Authority’s so-called “traffic light” system of oversight.
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U.K. banks that fail to meet their pledge to lend more could face additional taxes, David Cameron, the British prime minister, hinted at a parliamentary committee meeting.
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Moody’s Investors Service has downgraded $1.9 billion of Alt-A residential mortgage backed securities issued in 2004 by Bear Stearns ARM Trust.
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Janus Capital Group is looking to restart its investment in the securitization market, promoting John Kerschner to head of securitized products in its fixed-income investments group. He will work with Eric Bernum, structured finance trader.