Gov. Andrew Cuomo’s 2022 budget proposal includes language that formalizes the inevitable shift from LIBOR to SOFR for most financial institutions.

ABS issuance rebounded from COVID-related market disruption in the third quarter but lost momentum in the fourth quarter to end 2020 down 11% from the previous year. (Includes two data charts.)

Issuance of container ABS surged in the third quarter of 2020 only to deflate in the fourth quarter. KBRA has a positive outlook for the sector despite the ongoing coronavirus.

For years, industry analysts raised concerns about the quality of CLOs, warning of poor performance. While issues from the coronavirus prompted some problems, AAA-rated tranches of CLOs have held strong.

The property assessed clean energy ABS issued by Renovate America are “largely insulated” from the company’s financial troubles given its limited involvement in the deals post-issuance, according to KBRA.

In December, the capital markets remained receptive to all that nonbanks and REITs had to offer. But will it continue?

The MBS market can expect a push from increased availability of mortgages and improvements to ABS performance.

Issuance of rated non-agency MBS and ABS rose significantly during the third quarter, although both markets continued to lag behind 2019 on year-to-date volume. (Includes two data charts.)

Speakers at this year’s ABS East conference — held online — focused on how the coronavirus impacted assets and the outlook for 2021.

The use of LIBOR as an index is slated to end in just under 13 months but the benchmark administrator has other ideas. One issue: legacy contracts.