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News could lead bank funding to dry up, after strong run of demand in private market
L&G's head of portfolio management on everything equity release after debut deal
The private equity giant previously did RMBS deals from its BINOM shelf.
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U.S. banks have eased their lending standards for commercial loans as they experienced stronger demand in the first quarter, according to the Federal Reserve’s quarterly survey of senior loan officers.
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Real estate investment trust Western Asset Management has announced plans to raise $160 million in an initial public offering and to use the proceeds to investment in mortgage-backed securities from Fannie Mae and Freddie Mac.
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Skipton Building Society officials say the major benefit of its securitization program is that it can issue higher-rated securities than in the covered bond market, as the firm prepares to price its sophomore trade, Darrowby No. 2.
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Allied Irish Bank (UK) has entered the ABS market with Tenterden, a securitisation of UK mortgages. The collateral is comparable with other UK RMBS issuing institutions, including building societies, but the notes will still need to offer a pick-up over the likes of building societies to stand a chance of success.
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Dutch lender Aegon Levensverzekering N.V. has priced Saecure 11, the first residential mortgage-backed securitization from the Netherlands to be sold in dollars, with market officials now predicting the deal will blow open the doors for more Dutch issuers to tap U.S. investor appetite.
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The Basel Committee on Banking Supervision is considering easing capital and liquidity regulations imposed on European Union banks if their competitors in other regions manage to circumvent the measures.
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Credit default swap spreads on Spain’s biggest banks, led by BBVA and Banco Santander, widened sharply after Standard & Poor’s downgraded the nation’s credit rating for the second time this year.
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Standard & Poor’s says Spain’s growing debt troubles may force banks to ask for state aid, though the government has expressed reluctance to give it. “
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The European Central Bank is said to be working with a group of eurozone countries on a plan that would allow banks to recapitalize with the help of their respective nation’s bailout funds without first going through the government, but the European Union has already said it has no plans to change its current policy barring that.