Earlier this week, Moody’s Investor Services downgraded the credit ratings of 10 regional banks and put 17 other banks under review or gave their rating a negative outlook. Notwithstanding the downgrades, most of the...more
The Senate unanimously passed a hotly anticipated third COVID-19-related stimulus bill last night, and the House is set to take up the measure today and vote tomorrow on the bill that would deliver $2 trillion in loans, tax...more
As promised, the Fed on Wednesday announced “one of the most significant rollbacks of bank rules” since the White House changed hands in the form of a draft proposal that would loosen capital and liquidity requirements for...more
A mix of corporate tax cuts and a strong economy helped propel US corporate profits to a 16.1% year-over-year gain, the best figure in 6 years...more
On May 23, 2018, Moody’s published an updated methodology for rating central clearing houses, replacing the one from September 11, 2017. ...more
European Commission Inception Impact Assessment on Legislative Proposal for EU Framework on Crowdfunding - On October 30, 2017, the European Commission published an inception impact assessment for a legislative proposal...more
Uber’s got more than a spot of bother on its hands in London after this morning’s announcement that the company’s largest market in Europe won’t renew the ride-hailing service’s license to operate in the city (citing “a lack...more
Weekly projects and energy updates in South Africa - Moody’s downgrades Eskom - Moody’s lowered Eskom’s credit rating to the second rung of junk status on Tuesday night....more
Financial Industry Developments - Federal Reserve Board Announces Finalized Rule Adjusting the Board's Maximum Civil Money Penalties - On January 18, 2017, the Federal Reserve Board announced that it was adjusting...more
After markets closed on Friday the 13th, the U.S. Department of Justice (“DOJ”) announced an $864 million settlement regarding Moody’s credit ratings of residential mortgage-backed securities (“RMBS”) and collateralized debt...more
In a report released November 23, Moody’s Investors Service announced that the implications of cyber threats could start taking a higher priority in its credit analysis. Moody’s said it views cyber threats as similar to other...more
The Bureau of Ocean Energy Management (“BOEM”) has backed away from its proposed rulemaking regarding financial assurance requirements for the Outer Continental Shelf (“OCS”). On August 19, 2014, BOEM published an Advance...more
On September 23, DBRS published the methodologies it will use to rate and monitor U.S. Property Assessed Clean Energy securitization. On September 22, Moody’s published its updated rating methodology for consumer loan-backed...more
On July 22, Moody’s republished its credit rating methodology report on EMEA CMBS transactions. On July 20, DBRS published updated Canadian surveillance methodology for CDOs of large corporate credit....more
On March 20, the Appellate Division, Fourth Department, of the Supreme Court of New York affirmed in part and reversed in part the lower court’s denial of Defendant Moody Investor Services, Inc.’s motions to dismiss two...more
No Intervention for Class of Homeowners in Suit Against HSBC - On August 25, 2014, Judge Denise Cote of the U.S. District Court for the Southern District of New York denied a motion brought by a class of putative...more
Moody’s published a piece the other week that analogized credit quality in the CRE capital markets to the boiling frog – that if you put a frog in cold water and slowly raise the temperature, it never jumps out until it,...more