| | Government Aid Keeps Supply on Even Keel
Worldwide securitization activity is set to build ever so slightly in the next six months with continued central-bank support, as annual issuance volume heads toward its lowest point since 2002. Issuers around the world leaned heavily on government- ...more
Asset Backed Alert, Harrison Scott Publications Inc. (7/3/2009)
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| | FSA chairman tells bankers radical changes in regulation essential
Lord Turner, chairman of the Financial Services Authority, said today that excellent supervision is a necessary but not sufficient condition for financial stability, warning that unless rules are changed radically, future crises will not be avoided. ...more
Financial Services Authority (FSA) (6/30/2009)
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| | FINRA Takes Sweeping Action to Protect Muni Bond Investors
( Financial Industry Regulatory Authority (FINRA) )
The Financial Industry Regulatory Authority announced today that it has launched a comprehensive initiative to survey retail sales practices in the municipal securities market, promote investor protection in that market and give retail investors online to ...more
(6/30/2009)
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| | Transparency is the New Gold Standard, US Wealth Managers Must Redefine Role to Regain Trust in Current Environment
Private banks and wealth managers have seen their profits plummet in the wake of unprecedented financial turmoil, investment scandals and the decline in world wealth, according to a new report published by PricewaterhouseCoopers LLP. Damage has been done ...more
RiskCenter.com (6/30/2009)
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| | IOSCO Consults on Disclosure Requirements for Public Offerings of ABS
( International Organization of Securities Commissions )
The International Organization of Securities Commissions' Technical Committee has published a consultation paper on Disclosure Principles for Public Offerings and Listings of Asset-Backed Securities (ABS Disclosure Principles). ...more
(6/29/2009)
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| | @Regulatory : News Bulletins : Banking
On May 22, 2009, President Obama signed the Credit Card Accountability, Responsibility & Disclosure Act ("CARD Act or the Act"). This legislation implements significant changes relative to consumer protection when obtaining and/or using credit ...more
Deloitte & Touche LLP (6/29/2009)
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| | U.S. Structured Finance Newsletter
Financial Regulatory Reform Could Pose a Threat to Securitization. On June 17, 2009, the Obama administration released a proposal for reform of the financial system.1 Its key aims are to promote robust supervision and regulation of financial firms, ...more
DBRS (6/29/2009)
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| | Lloyds to Clear Out Massive Bond Inventory
Lloyds Banking is unwinding one of the world's largest portfolios of asset- and mortgage-backed bonds. The holdings, with an estimated face value of $105 billion, represent the combined businesses of a buyside platform that the London bank ...more
Asset Backed Alert, Harrison Scott Publications Inc. (6/26/2009)
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| | ABCP Newsletter - Week Ending June 26, 2009
To start the week, the ABCP market experienced some quarter-end pressures, which is just another step towards normalizing. The Fed Funds rate continued to trade at the higher end of the target and with 1 month LIBOR at 31 bps, most investors saw no ...more
Credit Suisse (6/26/2009)
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| | IASB Update: June 2009. Board Decisions on International Financial Reporting Standards
IASB Update is published as a convenience for the Board's constituents. All conclusions reported are tentative and may be changed or modified at future Board meetings.
Decisions become final only after completion of a formal ballot to issue a ...more
International Accounting Standards Board (IASB) (6/26/2009)
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| | UK short selling disclosure regime extended
The Financial Services Authority has today extended, without a time limit, the current disclosure regime for significant net short positions in the stocks of UK financial sector companies due to expire on 30 June. ...more
Financial Services Authority (FSA) (6/26/2009)
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| | Federal Reserve announces extensions of and modifications to a number of its liquidity programs
The Federal Reserve on Thursday announced extensions of and modifications to a number of its liquidity programs. Conditions in financial markets have improved in recent months, but market functioning in many areas remains impaired and seems ...more
Board of Governors of the Federal Reserve System (6/25/2009)
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| | IOSCO publishes principles for hedge funds regulation
( International Organization of Securities Commissions )
The International Organization of Securities Commissions' (IOSCO) Technical Committee has today published Hedge Funds Oversight: Final Report which contains six high level principles that will enable securities regulators to address, in a collective and ...more
(6/22/2009)
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| | Off-Balance Sheet Accounting Changes: SFAS 166 and SFAS 167
On June 12, 2009, the Financial Accounting Standards Board published two new accounting standards (Statement of Financial Accounting Standard [SFAS] 166 and SFAS 167) that determine whether securitizations and other transfers of financial ...more
Fitch Ratings (6/22/2009)
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| | The US Financial and Economic Crisis: Where Does It Stand and Where Do We Go From Here?
( Initiative on Business and Public Policy at Brookings )
The U.S. appears to be reaching a turning point for both the real economy and for the
financial crisis which triggered this severe recession. This is good news indeed coming
after many months of vile news, but we must keep firmly in mind the extreme ...more
(6/22/2009)
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| | No More Free Rides for Buy-Side Players
Wall Street dealers appear to be ending a practice in which they have routinely assigned values to clients' holdings of asset- and mortgage-backed bonds free of charge. Most top underwriters in the business have recently told buysiders that they plan to ...more
Asset Backed Alert, Harrison Scott Publications Inc. (6/19/2009)
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| | IOSCO publishes principles for the effective regulation of short selling
( International Organization of Securities Commissions )
The International Organization of Securities Commissions' (IOSCO) Technical Committee has published a final report entitled Regulation of Short Selling which contains high level principles for the effective regulation of short selling. The principles were ...more
(6/19/2009)
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| | IFRS Insights: Achieving a global standard
While many in the financial reporting community recognize the importance and benefits of achieving a single set of high-quality global accounting standards, there is much debate about how to arrive at that ultimate goal. Continuing with efforts to ...more
Deloitte & Touche LLP (6/19/2009)
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| | Uqbar's Radar of the Brazilian structured finance market, Edition No. 11
The Radar is a free service for the financial market offered by Uqbar. Here you will be able to follow on a bi-monthly basis indexes, announcements, rankings and events about the domestic Brazilian securitization market. ...more
Uqbar Educação & Informação Financeira Avançada Ltda. (6/19/2009)
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| | ISDA Announces Market Practice Changes for European and Emerging Markets CDS
The International Swaps and Derivatives Association, Inc. (ISDA) today announced market practice changes to the trading convention for credit default swaps (CDS) as an additional step towards achieving increased standardization, transparency and ...more
International Swaps and Derivatives Association, Inc. (6/19/2009)
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