Issuance is expected to pick up in September; when there is in excess of $10 billion of deals on the calendar.
The requirements do not apply to student loans, equipment loans or leases, or covered bonds; privately offered securities are also excluded.
Barclays analysts estimate that $620 million of securitized commercial mortgages are exposed to Sundays 6.0 magnitude Napa Valley, California earthquake.
The revisions would require asset-backed issuers to provide enhanced disclosures including information for certain asset classes about each asset in the underlying pool in a standardized, tagged format and revise the shelf offering process and eligibility criteria for asset-backed securities.
At closing on Aug. 15, a total of $309 million of investment grade bonds were sold to third parties at an initial weighted average coupon of LIBOR plus 145 basis points.
Regulation AB governs registration, reporting and disclosure requirements for all things asset-backed. The Securities and Exchange Commission appears to be ready to update it significantly, but, nearly four years after changes were originally proposed, its not clear exactly what the Commission will do.
The proposal would introduce dissemination of trade prices for securities ranging from highly liquid credit card and auto ABS to smaller and more esoteric deals in asset classes such as time shares, to commercial mortgage-backed securities (CMBS) and highly structured CDOs and collateralized loan obligations.
As July came to a close, it was clear to everyone at ASR that the structured finance market was not about to take a vacation.
DFG Taps Goldman Vet, Barclays Bulks Up on CMBS, Ares Adds Jeffrey Kramer and the ASF Retains Mike Williams as Policy Adviser
Could higher yields end up deepening the investor base for asset-backeds?
Vice President of Regulatory Compliance
Firm: Clayton Holdings
In the news: How Ability-to-Repay Rules Could Reshape RMBS Market
As more and more Chinese gain the financial access to buy a car with a loan, lenders will look increasingly to securitization to keep origination going.Current Issue