A federal appeals court overturned part of the 2010 law’s risk retention rule earlier this year. The legal battle highlights mistakes to be avoided during the next reform fight.
Nonbanks are originating more commercial mortgages on fixer-uppers in response to a sharp drop in the cost of funding in the securitization market. These deals are said to be "vastly different" than other CRE instruments that sustained big losses in the crisis — so far.
Timothy Bowler, president of the ICE Benchmark Administration, which has been responsible for calculating the index since mid-2013, argues that there is a strong case for keeping it going.
There could be a pause in new issuance as CLO managers wait to see if the government will appeal; longer term, the pace will pick up as the playing field is leveled for smaller managers.
A three-judge panel for the D.C. Circuit Court of Appeals has sided with the LSTA in its lawsuit seeking to reverse rules requiring CLO managers to hold "skin in the game" under Dodd-Frank.
Banking regulatory agencies Thursday announced that they would raise the aggregate loan commitment threshold for syndicated loans to be included in the Shared National Credit program from $20 million to $100 million.
Bank fires four forex traders, while the OCC slams its auto lending practices; United wants to renegotiate its co-branded credit card agreement with JPM.
It’s not clear whether syndicated credit agreements require 100% investor consent before adopting a new benchmark. The industry trade group suggests giving new loans the flexibility to change indexes without unanimous approval, but investor advocates are balking.
So-called transitional lending has traditionally been kept on balance sheet; but it’s become attractive to bundle the loans for transactions called (take a deep breath) commercial real estate collateralized loan obligations. Can investors stomach the features these deals sported before the crisis?
