| | Wilmington Trust Clarifies Role in Oriental Trading Company, Inc. Bankruptcy Case
Wilmington Trust said today that it is not providing credit to Oriental Trading Company, Inc., which filed for Chapter 11 protection on August 25, 2010. ...more
Wilmington Trust Company (8/26/2010)
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| | U.S. Securitization Report - August 2010
BMO Capital Markets -- Asset Securitization Group (8/23/2010)
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| | Card-Funding Balance Tips in Favor of ABS
A shift in funding expenses is prompting RBS to consider issuing U.S. credit-card bonds for the first time, while longtime players Bank of America and J.P. Morgan mull deals of their own. ...more
Asset-Backed Alert (8/13/2010)
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| | Dodd-Frank Wrinkle Reshapes Rating Process
Rating agencies are asking issuers and underwriters of asset-backed bonds to insure them against damages from investor lawsuits, with mixed results. ...more
Asset-Backed Alert (8/6/2010)
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| | Banks Eye Revival of Home-Loan Conduits
Several Wall Street banks are thinking about setting up units that would routinely take on mortgages from smaller financial institutions, with the intent of securitizing the credits down the line. ...more
Asset-Backed Alert (7/30/2010)
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| | Still in the Race: European ABS Picks Up Speed, But Might Get Derailed
Europe has ridden into the summer months in the same state of uncertainty that has set the course for the last 18 months. ...more
Asset Securitization Report--SourceMedia (7/30/2010)
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| | U.S. Securitization Report - July 2010
BMO Capital Markets -- Asset Securitization Group (7/26/2010)
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| | Rating-Agency Retreat to Lift Bond Values
The stage is set for the values of asset-backed bonds to rise, thanks to this week's government-induced shutdown of new-deal production. ...more
Asset-Backed Alert (7/23/2010)
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| | Sallie Weighs Spinoff Against Asset Sales
Sallie Mae, which has been looking into a sale of the residual interests in its past securitizations of government-guaranteed student loans, could spin off its banking arm instead. ...more
Asset-Backed Alert (7/16/2010)
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| | R&I Assigns A- Prelim: Sumitomo Life Fund Securitization
The preliminary rating is for the asset-backed securities (ABS) to be issued backed by 70.0 billion yen in kikin raised by Sumitomo Life Insurance Company (Sumisei). ...more
Rating and Investment Information, Inc. (7/12/2010)
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| | Dow Jones Credit Suisse Hedge Fund Index Posts Estimated Performance of -0.88% in June
Early estimates indicate the Dow Jones Credit Suisse Hedge Fund Index ("the Index") will experience negative performance in June, with a -0.88% decrease for the month (based on 77% of assets reporting). ...more
Credit Suisse (7/9/2010)
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| | S&P Is Monitoring Possible 12b-1 Reforms For Impact On Rated
Standard & Poor's Ratings Services is
monitoring regulatory discussions surrounding the guidelines that govern how mutual funds
charge 12b-1 fees to investors. ...more
Standard & Poor's (7/6/2010)
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| | BofA Merril Tops Public 1H Rankings
Bank of America Merrill Lynch managed to claim the top lead manager position with a market share of 17% and $4.4 billion in issuance. ...more
SourceMedia.com (7/1/2010)
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| | U.S. Structured Finance 2010 Midyear Outlook: Regulatory Issues May Temper The Market's Recovery
Standard & Poor's (6/29/2010)
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| | DBRS Releases April Canadian Securitization Market Overview Report
DBRS has today released the Canadian Securitization Market Overview report for the month ended April 30, 2010. The report provides an overview of the total Canadian securitization market, which includes asset-backed securities (ABS), commercial mortgage-b ...more
DBRS (6/28/2010)
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| | U.S. Securitization Report - June 2010
The latest news and transactions in the securitization market ...more
BMO Capital Markets -- Asset Securitization Group (6/24/2010)
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| | DBRS Assigns Final Ratings to Santander Drive Auto Receivables Trust 2010-A
DBRS (6/24/2010)
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| | DBRS Confirms the Ratings of Merrill Lynch Financial Assets Inc., Series 2004-Canada 12
DBRS (6/23/2010)
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| | DBRS Confirms Certain MAV Note Ratings, Places MAVI and MAVII A-1 Notes Under Review with Positive Implications
DBRS has today placed the Master Asset Vehicle I (MAVI) and Master Asset Vehicle II (MAVII and together with MAVI, the MAVs) Class A-1 Notes Under Review with Positive Implications. ...more
DBRS (6/22/2010)
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| | Agencies Mull Risk-Retention Alternatives
The FDIC, Federal Reserve, Office of the Comptroller of the Currency and SEC are discussing a measure that would allow structured-product issuers to avoid proposed risk-retention rules. ...more
Asset Backed Alert, Harrison Scott Publications Inc. (6/18/2010)
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| | FDIC Proposal Links Market Reform to the Securitization Safe Harbor
On May 11, 2010, the Board of the Federal Deposit Insurance Corporation (FDIC) released a notice of proposed rulemaking1 (NPR) concerning the FDIC's rule (the Rule) relating to the treatment of securitizations (and participations2) in receivership or ...more
Mayer Brown LLP (5/18/2010)
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| | Summary of the US SEC's ABS Rule Change Proposal
The US Securities and Exchange Commission (the Commission) has released an important and voluminous notice of proposed rulemaking1 (the NPR) relating to asset-backed securities (ABS). Comments on the NPR will be due 90 days after the NPR ...more
Mayer Brown LLP (4/21/2010)
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| | Santander Lining Up Subprime-Auto Deals
The U.S. consumer-lending unit of Madrid-based Banco Santander is preparing a securitization of subprime-auto loans - its first such deal since 2007. Santander Consumer USA is expected to bring the issue to market in the coming weeks. After that, the Fort ...more
Asset Backed Alert, Harrison Scott Publications Inc. (5/14/2010)
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| | IOSCO and CPSS Consult On Policy Guidance for Central Counterparties and Trade Repositories in the OTC Derivatives Market
( International Organization of Securities Commissions (IOSCO) )
The Committee on Payment and Settlement Systems (CPSS) and the Technical Committee of the International Organization of Securities Commissions (IOSCO) have today issued two consultative reports containing proposals aimed at ...more
(5/12/2010)
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| | FDIC Board Approves NPR Regarding Safe Harbor Protection for Securitizations
The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved a Notice of Proposed Rulemaking (NPR) to clarify the safe harbor protection in a conservatorship or receivership for financial assets transferred by an insured ...more
Federal Deposit Insurance Corporation (FDIC) (5/11/2010)
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| | Pimco Tries Hand as Mortgage-Bond Issuer
Pimco is building a team that would buy and securitize private-label mortgage portfolios. The group is forming under Dan Ivascyn, a portfolio manager who focuses on asset-backed securities at the Newport Beach, Calif., investment giant. The plan is to ...more
Asset Backed Alert, Harrison Scott Publications Inc. (5/7/2010)
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| | Regulatory Implementation of the Statement of Principles Regarding the Activities of Credit Rating Agencies, Report of the Technical Committee of IOSCO
( International Organization of Securities Commissions (IOSCO) )
The International Organization of Securities Commissions' Technical Committee has published for public comment this Consultation Report on Regulatory Implementation of the Statement of Principles Regarding the Activities of Credit Rating ...more
(5/7/2010)
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| | Uqbar's Radar of the Brazilian structured finance market, Edition No. 32
The Radar is a free service for the financial market offered by Uqbar. Here you will be able to follow on a bi-monthly basis indexes, announcements, rankings and events about the domestic Brazilian securitization market. ...more
Uqbar Educação & Informação Financeira Avançada Ltda. (5/5/2010)
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| | Asset-Backed Securities: Proposed Rules
We are proposing significant revisions to Regulation AB and other rules regarding the offering process, disclosure and reporting for asset-backed securities. Our proposals would revise filing deadlines for ABS offerings to provide investors with more ...more
U.S. Securities & Exchange Commission (5/3/2010)
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| | SEC Pushes Historic Transparency
Providing public deal-like disclosures on private placements? Issuers retaining a 5% stake in offerings issued from securities shelves? Requiring issuers to provide loan-level data regularly, even in the private market, and for asset classes where such ...more
Asset Securitization Report--SourceMedia (5/1/2010)
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| | ADB Q&A: ADB Talks ABS
Founded in 1966, the Asian Development Bank has a mandate to reduce the poverty of its developing member countries (DMCs) and improve the quality of life of their people. It currently has 67 members. Those eligible for assistance must be DMCs ...more
Asset Securitization Report--SourceMedia (5/1/2010)
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| | Banks Exploring Balance-Sheet Workaround
Royal Bank of Canada has implemented a tactic designed to keep the assets of its U.S. commercial-paper conduits off its balance sheet. Bank of America, Citigroup, J.P. Morgan and Wells Fargo are also considering the maneuver, which entails the sale ...more
Asset Backed Alert, Harrison Scott Publications Inc. (4/30/2010)
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| | Credit Market Report - Worst of the sovereign fears recede
FOMC comments, receding EU sovereign fears and continued strong earnings allowed the iTraxx to continue to retreat from their recent wides on Thursday. The FOMC on Wednesday kept its pledge to keep rates low for an extended period, while also ...more
Informa Global Markets - Bondwatch Morning Insight (Europe) (4/30/2010)
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| | Informa Global Markets - Bondwatch Morning Insight
Informa Global Markets - Bondwatch Morning Insight (Europe) (4/30/2010)
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| | Results of the Public Consultation on the Provision of ABS Loan-Level Information in the Eurosystem Collateral Framework
On 23 December 2009 the European Central Bank (ECB) launched a public consultation on loan-by-loan information requirements for asset-backed securities (ABSs) in the Eurosystem collateral framework. The public consultation included six questions ...more
European Central Bank (4/23/2010)
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| | U.S. Securitization Report
Investors are buying consumer-backed loans at a fast pace, giving hope to a market that continues to rise in its first month without government support. Despite high unemployment and a slow economic recovery, the deals are reassuring investors ...more
BMO Capital Markets -- Asset Securitization Group (4/20/2010)
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| | Year in Review 2010 - Brazilian Structured Finance
The year 2009 tested the Brazilian structured finance market's resilience. On the one side, there was the international scenario, with the United States of America at the financial storm's epicenter. On the other, the financial crisis' impact on the real ...more
Uqbar Educação & Informação Financeira Avançada Ltda. (4/13/2010)
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| | New Rules Reigniting Covered-Bond Efforts
Talk has surfaced yet again that U.S. banks are working to issue covered bonds. The latest indications are that deals could start flowing within the next six months, as Bank of America, Citigroup, J.P. Morgan, Wells Fargo and other institutions look for ...more
Asset Backed Alert, Harrison Scott Publications Inc. (4/9/2010)
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| | IOSCO Publishes Disclosure Principles for Public Offerings and Listings of Asset Backed Securities
( International Organization of Securities Commission (IOSCO) )
The Technical Committee of the International Organization of Securities Commission (IOSCO) has published a final report - Disclosure Principles for Public Offerings and Listings of Asset Backed Securities (ABS Disclosure Principles) - containing ...more
(4/8/2010)
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| | US SEC Proposes Massive ABS Rule Changes
The US Securities and Exchange Commission has released a massive rulemaking proposal relating to asset-backed securities (ABS). The broad categories of changes proposed include: Changes to the forms that may be used to register ABS for ...more
Mayer Brown LLP (4/8/2010)
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| | US SEC Adopts Amendments to Rule 2a-7 Affecting Money Market Funds
On January 27, 2010, the US Securities and Exchange Commission (SEC), by a 4-1 vote, adopted amendments to Rule 2a-7 under the Investment Company Act of 1940, as amended (the "1940 Act"). Rule 2a-7 (the "Rule") imposes quality, liquidity, and other ...more
Mayer Brown LLP (4/7/2010)
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| | U.S. Structured Finance Newsletter
Direct Student Loan Lender - The U.S. Government. On Tuesday, March 30, 2010, President Barack Obama signed into law, the Healthcare and Education Reconciliation of 2010, a law that includes provisions which significantly alter the student-loan ...more
DBRS (4/5/2010)
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