Consumers slashed their debt and became less reliant on credit to make ends meet in the years following the financial crisis, but that trend is over, according a report released Tuesday by the Federal Reserve Bank of New York.
If the ECB wants to provide more capital relief to Eurozone banks through its securitization-buying scheme than they would get by holding on to their assets, it will have to snap up mezzanine tranches as well, according to Fitch.
NAVSL 2014-8 began marketing last week and was upsized by $258 million on investor demand; the 6.3- year senior bond priced at a spread of 60 basis points over one-month Libor.
The one-year, fixed-rate and floating-rate senior bonds priced at a spread of 40 basis points over the EDSF and 40 basis points over one-month Libor, respectively; that's 8 basis points wider than equivalent tranches of the issuer's September transaction.
The single tranche of series 2014-8 Class A notes have a scheduled principal payment date of November 2016 and a legal final maturity of November 2018. They will pay a floating rate of interest pegged to one-month Libor.
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 swelling trillion-dollar student loan market is missing key data and regulations necessary to head off another financial crisis, according to Rohit Chopra, the Consumer Financial Protection Bureaus top official in charge of dealing with student loans.
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.
Overall issuance growth will moderate in 2014, Fitch Ratings' managing director for asset backed securities says in the firm's outlook.
Direct exposure to either J.C. Penney or Sears is typically highest in seasoned deals where there are only a small number of loans remaining, and one is secured by a retail property.
Vice President of Regulatory Compliance
Firm: Clayton Holdings
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Investors in catastrophe bonds are broadening their exposure by taking on multiple perils and increasing the time period during which claims can be included in coverage. Often they are doing so without any additional compensation.Current Issue