Orrick - Structured Finance Group

Updated Basel III Monitoring Workbook Published

The Bank for International Settlements has published on its website an updated version of the Basel Committee on Banking Supervision’s Basel III monitoring workbook, accompanying instructions and a list of frequently asked…more

| Finance & Banking, International Law & Trade

Bank of America Settles RMBS Securities Claims for US$9.3 Billion

On March 26, Bank of America and the Federal Housing Finance Agency (FHFA), as conservator of Fannie Mae and Freddie Mac, announced a settlement of FHFA’s RMBS-related suits against the Bank. The Bank has agreed to pay…more

| Finance & Banking, Business Torts, Real Estate - Residential, Securities...

Repurchase Suits to Proceed Against DB Structured Products

On March 20, Judge Alison J. Nathan of the United States District Court for the Southern District of New York granted in part and denied in part DB Structured Products, Inc.’s, (DBSP) motions to dismiss four lawsuits brought by…more

| Civil Procedure, Finance & Banking, Business Torts, Real Estate -...

Rating Agency Developments - April 09, 2014

On March 25, Moody’s released its approach to rating RMBS using the MILAN framework. On March 25, Moody’s released its approach to assessing incremental risk posed by ability to repay rules in US RMBS…more

| Finance & Banking

Fed Issues a Report on Mobile Financial Services

On March 25, the Fed issued a report on the use of mobile phones to obtain financial services. Last year, 33 percent of all mobile phone users and 51 percent of smartphone users had used mobile banking. The most common mobile…more

| Communications & Media Law, Finance & Banking

ESMA Updates Q&A on EMIR Implementation

On March 20, ESMA published an updated version of its questions and answers document (Q&A) on the implementation of EMIR (the Regulation on over-the-counter (OTC) derivatives, central counterparties (CCPs) and trade repositories…more

| Finance & Banking, International Law & Trade, Securities Law

New York Appellate Court Denies Motion for Reargument of ACE Ruling

On March 20, the Appellate Division, First Department denied an RMBS trustee’s motion for reargument of or, alternatively, leave to appeal to the Court of Appeals (New York’s highest court) from the First Department’s December…more

| Civil Procedure, Finance & Banking, Business Torts, Real Estate -...

Rating Agency Developments - March 27, 2014

On March 19, S&P released its methodology for rating CDOs of project finance debt. On March 17, Fitch released its criteria for analyzing RMBS under the Ability-to-Repay and Qualified Mortgage rules…more

| Finance & Banking, International Law & Trade, Real Estate - Residential

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