Securitization.Net

	Basel Committee Proposes Significant Reforms to Regulatory Capital Framework On December 17, 2009, the Basel Committee on Banking Supervision released for public comment a series of detailed and far-reaching proposals designed to strengthen the Basel II capital framework and improve the banking industry's ...more Mayer Brown LLP (1/13/2010)
	Rating Agency Reform - 2009 in Review It was a busy year for rating agency reform in 2009, with multiple rulemaking actions by the US Securities and Exchange Commission (the Commission) covering diverse topics. The table below briefly summarizes the action during the year with ...more Mayer Brown LLP (1/12/2010)

	GSEs Buy Time as Treasury UpsTheir Available Capital The Treasury's ninth-hour announcements on Dec. 24 changed the outlook for the government-sponsored enterprises in 2010. For the next year, the Federal Reserve-supported purchase program will continue business as usual. The changes mean that the ...more Asset Securitization Report--SourceMedia (2/1/2010)
	LatAm 2010: Better Days Ahead Latin American ABS and MBS held on last year thanks to domestic markets. As cross-border demand receded further, local investors remained a major force. This, in part, explains why activity from the region fared so much better than the emerging markets on ...more Asset Securitization Report--SourceMedia (2/1/2010)
	Annual ASF Gathering Energizes Dealmakers For the first time in years, the American Securitization Forum's annual conference holds promise as a dealmaking venue. The four-day "ASF 2010" event starts Jan. 31 at the Gaylord National Hotel just outside Washington. Industry professionals who plan to ...more Asset Backed Alert, Harrison Scott Publications Inc. (1/29/2010)
	Recovering Market Brings Bigger Paychecks Wall Street institutions are boosting the pay scale for securitization bankers, traders and sales professionals in the U.S. this year. Amid mounting evidence that the worst of the global financial crisis is over, investment banks recently began equipping ...more Asset Backed Alert, Harrison Scott Publications Inc. (1/22/2010)
	TALF Buyers Seeking Secondary-Market Exit Buysiders are betting that bonds eligible for financing under the Federal Reserve's Term Asset-Backed Securities Loan Facility will soon be worth no more than non-qualifying issues. In some ways, the prophecy has been self fulfilling. ...more Asset Backed Alert, Harrison Scott Publications Inc. (1/15/2010)
	ABS Market Players Speculate on Life After TALF With the safe harbor from the Federal Deposit Insurance Corp. (FDIC) and Term ABS Loan Facility (TALF) in place until March, there are near-term positive expectations for the ABS market going into the New Year, market sources said. "For the first quarter, ...more Asset Securitization Report--SourceMedia (1/4/2010)
	Brazilian CDO Draws Interest and Curiosity As of the holidays, a hefty CDO was in the Brazilian market and drawing substantial interest, sources said. Led by Credit Suisse and Banco Santander, the deal, called Credito Corporativo Brasil, has raised eyebrows as well, for reasons obvious to anyone ...more Asset Securitization Report--SourceMedia (1/4/2010)
	A Peek at the Future of the FDIC Securitization Safe Harbor On December 15, 2009, the Board of the Federal Deposit Insurance Corporation (FDIC) approved publication of an advanced notice of proposed rulemaking1 (ANPR) concerning the FDIC's rule (the Safe Harbor) relating to the treatment of securitizations ...more Mayer Brown LLP (12/21/2009)
	US Bank Regulators Provide Only Transitional Risk-Based Capital Relief for Securitization Accounting Changes On December 15, 2009, the Federal Deposit Insurance Corporation (FDIC) became the first of the US federal bank regulators to approve final rules responding to recent changes in US accounting standards for securitizations (see our June 22, 2009, ...more Mayer Brown LLP (12/16/2009)
	ABS Industry Makes Sense OF Loan Level Data Investment firms are also increasingly unwilling to trust the work of others. This is coupled with the need for more granular information down to the borrower level. These have driven market participants to build their own models using more detailed data ...more Asset Securitization Report--SourceMedia (12/7/2009)
	Gulf ABS Not a ClearLoser in Dubai Fallout The destabilizing news out of Dubai is inarguably a negative for issuers out of the region - what many investors effectively saw as implicit sovereign support has now vanished. But the impact for true asset-backeds in the United Arab Emirates and neighbor ...more Asset Securitization Report--SourceMedia (12/7/2009)
	Synthetic CLOs Staging Comeback in Europe A resurgence of synthetic collateralized loan obligations appears to be taking shape in Europe, as banks in the region seek regulatory capital relief. Working on behalf of clients, big underwriters including Deutsche Bank, RBS and Societe Generale have ...more Asset Backed Alert, Harrison Scott Publications Inc. (12/4/2009)
	EU Regulation No 1060/2009 on credit rating agencies Credit rating agencies play an important role in global securities and banking markets, as their credit ratings are used by investors, borrowers, issuers and governments as part of making informed investment and financing decisions. Credit institutions, ...more Committee of European Securities Regulators (11/17/2009)
	U.S. Structured Finance Newsletter Deed For Lease Program. On November 5, 2009, Fannie Mae introduced the Deed-for-Lease Program (D4L), a program designed to minimize family displacement, deterioration of neighborhoods caused by vandalism and theft to vacant homes, and the ...more DBRS (11/16/2009)
	Education Lenders to Pull Straight-A Loans Nelnet, Sallie Mae and Citigroup unit Student Loan Corp. are planning term securitizations of education loans they are currently financing through Straight-A Funding, the giant commercial-paper conduit run by the U.S. Department of Education. ...more Asset Backed Alert, Harrison Scott Publications Inc. (11/13/2009)
	ABCP Newsletter - Week Ending November 13, 2009 There were no scary surprises on this Friday the 13th (fun fact: this is the last of 3 "Friday the 13th" occurrences in 2009). The week was business as usual for the ABCP market, as we continued to see very good flows throughout the curve. ...more Credit Suisse (11/13/2009)
	FASB Statement No. 167, Amendments to FASB Interpretation No. 46(R) On 12 June 2009, the Financial Accounting Standards Board (FASB) issued Statement 167, which amends certain of the key provisions of FIN 46(R).2 Statement 167 responds to certain concerns about the application of FIN 46(R), such as the complexity involved ...more Ernst & Young LLP (11/13/2009)
	Crucial Transitional Relief Under the FDIC Securitization Safe Harbor On November 12, 2009, the Board of the FDIC approved an interim rule that provides some crucial transitional relief relating to recent changes in US accounting standards for securitizations (see our June 22, 2009, Client ...more Mayer Brown LLP (11/12/2009)
	FASB proposes to defer Statement 167 for asset management funds its project to address concerns with the application of Statement 1671 to reporting enterprises in the asset management industry. As written, Statement 167 may result in asset managers consolidating many hedge funds, private equity funds and other ...more Ernst & Young LLP (11/11/2009)
	SEC proposal: Credit ratings disclosure On 7 October 2009, the US Securities and Exchange Commission (SEC) published a proposal that would require additional disclosure in registration statements when credit ratings are used by issuers, underwriters or other offering participants. The proposed ...more Ernst & Young LLP (11/11/2009)