New regulations for credit rating agencies that took effect this week are expected to make mortgage and other asset-backed securities more transparent by requiring broader disclosure of certain due diligence reports.
It's an integral factor in Fitch Ratings' continued stable outlook for the securitization market in 2015.
New York's top banking regulator Benjamin Lawsky, who used his leverage to stiffen penalties against some of the world's largest financial institutions, will probably step down next year to take a job in the private sector.
Which opinion is more reliable: A well-informed one tainted by financial arrangements or one free of such conflicts but based on limited data and possibly colored by spite?
While "no one's furious," the rule is cumbersome enough that it's likely to steer issuers away from the public market and into private deals that are not registered with the Securities and Exchange Commission.
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.
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.
Firm: 3i Debt Management
To avoid either running afoul of the FDIC or potentially ceding market share, the bank has to get some of the loans that it makes off its books, either via whole loan sales or securitizationCurrent Issue