In 2024, limited liability companies and certain other entities will have to begin reporting beneficial ownership information to the Financial Crimes Enforcement Network. ABS issuers will generally be covered by the requirements but CLO issuers will not.
Federal Reserve examiners didn’t do enough to prevent the failure of Silicon Valley Bank, according to the Fed’s IG. Now, the Fed is working to address interest rate risk tied to bank holdings of MBS and ABS.
Members of the National Association of Insurance Commissioners defended NAIC’s plan to allow state insurance commissioners to overrule the ratings assigned to MBS and ABS held by insurance companies.
The federal government’s new income-driven repayment plan, introduced after the Supreme Court decision, should drive prepayments higher to the benefit of seasoned deals, rating services said.
SEC staff are considering revisions to a proposed rule that would prohibit conflicts of interest in the securitization market. But the agency reportedly won’t budge on some portions of the rule.
Credit risk-retention requirements don’t apply to notes issued in connection to a structured PDP well financing, according to Vinson & Elkins attorneys.
After playing defense in 2022, investors appear to be willing to deploy capital even as the MBS and ABS markets face numerous headwinds. Attendance at this week’s SFVegas conference hit a record level.
S&P Global Ratings said that the advantages of decentralized finance securitizations, including increased transaction speeds and greater transparency, are counterbalanced by several risks in the sector. Many of the risks are inherent to the use of a blockchain, like difficulty correcting errors in registered information.
Attorneys and structured finance trade groups are combing through the SEC’s proposed rule on conflicts of interest in ABS transactions. Some are concerned the rule might prevent actions to support liquidity or hedging.
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