CLOs

CRE bridge lending is white hot. What could possibly go wrong?

03/16/18

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.

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Reports of Libor’s demise have been greatly exaggerated

02/27/18

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.

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What rollback of risk retention could mean for CLO managers

02/12/18

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.

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Federal appeals court rules CLOs exempt from risk retention

02/09/18

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.

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Regulators raise threshold for syndicated loans

12/21/17

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.

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Wells Fargo woes go on; United seeks better card deal

10/23/17

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.

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‘Potential for mischief’ in Libor replacement for leveraged loans

08/23/17

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.

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Nonbanks seize on new source of funding for multifamily lending

08/02/17

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?

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OCC begins Volcker revamp; Bitcoin Cash flops in debut

08/02/17

The regulatory agency is expected to start asking for public feedback on changing the rule on proprietary trading by banks; bitcoin offshoot is worth about a tenth of the original.

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How risk retention created opportunity for bank spinoff Trinitas

07/11/17

The former Triumph Capital Advisors doubled its business by acquiring Doral Bank's CLO assets; Dodd-Frank’s “skin in the game” regs spurred its spinoff as a vehicle of the deep-pocketed Pine Brook.

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