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.
The company has proven it's possible to obtain a credit rating for bonds backed by leases on rooftop panels -- but at a cost.
The Consumer Financial Protection Bureau finalized a rule Tuesday that allows it to supervise the largest nonbank student loan servicers in the country.
Barclays expects issuance of collateralized loan obligations in 2014 to be similar to this years total, in the range of $75 billion to $80 billion.
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.
Risk-retention rules could thin the ranks of CLO managers; the industry was hoping for a workaround, but what it got is pretty much unworkable.
The U.S. market for collateralized loan obligations would shrink by 75% if proposed risk-retention rules are implemented, according to the Loan Syndication and Trading Association.
Longstanding tensions within the American Securitization Forum (ASF) boiled over in March, when most of its board of directors resigned and formed a new trade group.
By tweaking one aspect of its methodology for rating securitizations, Moodys Investors Service has set the stage for more downgrades of deals issued out of peripheral Eurozone countries.