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Banking Sector Asset-Backed Securities

A&O Shearman

EBA Publishes New Q&A in Relation to the Securitisation Regulation

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The European Banking Authority (EBA) published single rulebook Q&A relating to the Securitisation Regulation. The answers to the questions were given by the European Commission. The Q&A cover...more

Sheppard Mullin Richter & Hampton LLP

SEC’s Proposed Conflicts of Interest Rule May Impede Hedging

Critics are warning that the SEC’s recently proposed rule (the “Proposed Rule”) prohibiting conflicts of interest in asset-backed securities (ABS) transactions may impede the ability of financial institutions, broker-dealers...more

Goodwin

Financial Services Weekly News Roundup - February 2023

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Federal Reserve Issues Policy Statement on Section 9(13) of the Federal Reserve Act - On January 27, the Federal Reserve issued a policy statement interpreting section 9(13) of the Federal Reserve Act, which authorizes...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

CFTC Comparability Determination on EU Margin Requirements and a Common Approach on Trading Venues - On October 13, 2017, the U.S. Commodity Futures Trading Commission ("CFTC") announced determinations by the CFTC and the...more

Jones Day

Volcker Rule Reform Begins

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The Situation: The Volcker Rule's complexity has created uncertainty and compliance burdens that adversely affect market liquidity, risk hedging, and other economically important activities. The Opportunities: Bank...more

Orrick, Herrington & Sutcliffe LLP

GACS Approvato Il Disegno Di Legge Di Conversione Del Decreto Sulla Garanzia Statale Sulla Cartolarizzazione Delle Sofferenze

On 10 February 2016, decree no. 18/2016 (the "Decree") was passed which, following the agreement reached with the EU late last month, sets out the details of the Italian government guarantee scheme for senior tranches of...more

Orrick, Herrington & Sutcliffe LLP

GACS: Approved The Conversion Law Of The Relevant Decree

On 10 February 2016, decree no. 18/2016 (the "Decree") was passed which, following the agreement reached with the EU late last month, sets out the details of the Italian government guarantee scheme for senior tranches of...more

Orrick, Herrington & Sutcliffe LLP

Decree passed introducing Government Guarantee scheme for Italian securitisations of Non-Performing Loans

On 10 February 2016, decree no. 18/2016 (the "Decree") was passed which, following the agreement reached with the EU late last month, sets out the details of the Italian government guarantee scheme for senior tranches of...more

Orrick, Herrington & Sutcliffe LLP

Italian Finance Ministry Announces Government Guarantees to NPLS

Last Tuesday after months of negotiations, Italy finally reached an agreement with the EU regarding a solution to the Italian banks' non-performing loans problem with a scheme that has been confirmed does not constitute State...more

Morgan Lewis

FINRA Releases Revised 4210 Margin Rule Proposal

Morgan Lewis on

The reproposed amendments to Rule 4210 attempt to address commenters’ concerns that the original proposed rule would impact business activity in the TBA market....more

Carlton Fields

Florida Appellate Court Adopts Test to Distinguish Direct Shareholder Actions From Derivative Actions

Carlton Fields on

Addressing what it acknowledged was a “murky question” under Florida law, Florida’s Fourth District Court of Appeal recently outlined the test for determining when shareholders may maintain a direct action against a...more

Orrick - Finance 20/20

Rating Agency Developments

On July 28, DBRS published methodology for conducting operational risk assessments for U.S. asset-backed securities originators. On July 28, 2015, DBRS published methodology for conducting operational risk assessments for...more

Goodwin

Financial Services Weekly News Roundup - December 2014 #5

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Editor’s Note: Spotlight on the Credit Risk Retention Rule: The OCC, Federal Reserve Board, FDIC, SEC, FHFA and HUD announced the adoption of a joint final rule (the Rule) to implement the credit risk retention...more

Morrison & Foerster LLP

New Law Limits the Swaps Pushout Requirement to Apply Only to Certain ABS Swaps

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On December 16, 2014, President Barack Obama limited the scope of swaps and security-based swaps subject to the Dodd-Frank Wall Street Reform and Consumer Protection Act’s (“Dodd-Frank Act’s”) pushout requirement to certain...more

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