Asset-Backed Securities

News & Analysis as of

Rating Agency Developments

On June 13, Moody’s announced that its private student loan default rate index will continue to decline. On June 13, Fitch announced that it has taken various conforming rating actions on enhanced municipal bonds and...more

Orrick's Financial Industry Week in Review

ESMA Reports on Information that Competent Authorities Should Provide to it Under the AIFMD - The European Securities and Markets Authority (ESMA), has published a final report of technical advice for the European...more

SEC Extends Re-Opened Comment Periods for Asset-Backed Securities Proposals Until April 28

The SEC extended until April 28, 2014 the comment periods previously re-opened on its rule proposals regarding asset-backed securities described in the releases entitled “Asset-Backed Securities” (the “2010 Release”) and...more

SEC Re-Opens Comment Periods for Asset-Backed Securities Rule Proposals

The SEC re-opened the comment periods on its rule proposals regarding asset-backed securities described in the releases entitled “Asset-Backed Securities” (the “2010 Release”) and “Re-Proposal of Shelf Eligibility Conditions...more

SEC Re-Opens Comment Period for Asset-Backed Securities Rules

An update to Regulation AB (“Reg AB II”) was originally proposed by the U.S. Securities and Exchange Commission (the “SEC”) on April 7, 2010,1 with an initial comment period open until August 2, 2010 (the “Proposal”) to...more

The Final Volcker Rule: Impact on Securitizations

On December 10, 2013, five U.S. financial regulators (the Agencies) adopted a final rule implementing the Volcker Rule (the Final Rule). The text of the Final Rule and its accompanying lengthy preamble (collectively, the...more

New Jersey AG Files RMBS Suit

On December 18, New Jersey’s Acting Attorney General John Hoffman announced a lawsuit against a mortgage securitizer and related firms for allegedly violating state securities law by making fraudulent misrepresentations and...more

Covered Funds Aspects of the Volcker Rule – Frequently Asked Questions

The Federal Reserve Board, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Securities and Exchange Commission (the "SEC") issued a final rule, and the Commodity Futures...more

The Volcker Rule: A First Look at Key Changes

On December 10, 2013, five U.S. financial regulators (the Agencies) adopted a final rule implementing the Volcker Rule. The text of the final rule and its accompanying preamble are available here. The Volcker Rule was created...more

SEC Settles with Adviser Over Discretionary Valuation Practices and Lack of Cross Trade Procedures

The SEC settled public administrative proceedings against a registered investment adviser (the “Adviser”) over (i) its exercise of discretion in valuing securities held by a privately offered fund the Advised managed (the...more

Bankruptcy remoteness – a remote prospect?

Lawyers and investment bankers involved in setting up structured products such as asset backed commercial paper, CDOs, CMBS and CLOs often strive to achieve “bankruptcy remoteness” for the vehicle issuing the product...more

Qualifying Loans Will Reduce or Eliminate Risk Retention Obligations of Issuers Under Reproposed Credit Risk Retention Rules

The general risk retention requirements mandated under section 15G of the Securities and Exchange Act of 1934 (added by section 941 of the Dodd-Frank Act) will be applicable to all issuers of asset-backed securities (ABS)...more

Reproposed Credit Risk Retention Rules May Affect Structures of Sales of Receivables to ABCP Conduits

The general risk retention requirements will be applicable to all issuers of asset-backed securities (ABS) once the reproposed rules published by federal regulators on Aug. 28, 2013, become final and effective. (See our...more

Reproposed Credit Risk Retention Rules Will Affect All Issuers of Asset-Backed Securities

Issuers of asset-backed securities (ABS) need to understand the reproposed rules regarding the credit risk retention requirements of Section 15G of the Securities and Exchange Act, which, when final, will apply to all public...more

U.S. Regulators Respond to Public Comments and Restructure Proposed Rule for Credit Risk Retention

One of the important unfinished aspects of the Dodd-Frank Act (“Act”) is the requirement for Federal agencies (“Regulators”) to issue regulations implementing Section 941 of the Act which generally requires that a securitizer...more

Sharia compliant financing of commercial real estate

In This Issue: - Sharia compliant financing of commercial real estate - Introduction - Real estate as an asset class - Sharia compliance issues that particularly affect commercial real estate...more

Agencies Re-Propose Rule Implementing Risk Retention Requirements of Dodd-Frank Act

On August 28, 2013, the FDIC, OCC, FRB, SEC, Federal Housing Finance Agency, and Department of Housing and Urban Development (collectively, the “Agencies”) issued a second Notice of Proposed Rulemaking (the “revised...more

Financial Litigation Insights - Winter 2013 Vol. 5 No. 1

In This Issue: - It All Falls Down: As banks continue to settle Libor-rigging charges with regulators, institutional investors consider pursuing individual actions - The Next Wave of Asset-Backed Securities...more

18 Results
|
View per page
Page: of 1