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...US asset-backed and mortgage-backed securitisation issuance has totalled $463bn in 2023, the lowest for this point in a year since 2016, according to Dealogic data....
...Some analysts warned the company’s participation could undermine data security within the bloc as well as the EU’s ambition to stay self-reliant in developing critical technological infrastructure....
...It had $120bn of investment securities — which include its $91bn mortgage-backed securities portfolio — at the end of 2022, far exceeding its $74bn total loans....
...with property lenders or lessors, and 3) corporate ringfencing or securitisation vehicles like special purpose entities, collateralised loan obligations and asset-backed securities....
...Wells Fargo has hired Derek Van Zandt from Citigroup to lead media and telecommunications banking, Bloomberg reported....
...He will join the panel on a two-year secondment from the bank beginning in May. Wells Fargo has named Doug Braunstein as a vice-chair....
...The JPMorgan banker-turned-exchange boss turning noodles into securities In modern capitalism, you can securitise all sorts of things — mortgages, the loans backing private equity buyouts, car loans, even...
...That was the reason for the plunge in mortgage-backed securities in 2007 and 2008, which then filtered through to concern about the health of the banking system....
...The US Department of Justice alleged that UBS defrauded investors when it sold 40 residential mortgage-backed securities deals between 2006 and 2007, which ultimately sustained substantial losses during...
...At the Sohn investment conference in London on Wednesday, Block said he is shorting Blackstone Mortgage Trust, a publicly traded real estate investment trust Blackstone took control of a decade ago as it...
...The move is the latest attempt by JPMorgan to beef up its legal wealth management business after two decades of trying to break the grip of Citi in New York, as well as that of Wells Fargo, which dominates...
...Blackstone Mortgage Trust and KKR Real Estate Finance Trust, two of the biggest mortgage real estate investment trusts, have halted loans to any new borrowers....
...security ladder....
...By contrast, JPMorgan Chase and Wells Fargo — the nation’s first and third-largest banks, respectively — each had about $40bn in unrealised bond market losses, while fourth-largest Citigroup’s paper losses...
...The US Securities and Exchange Commission approved new rules which will bring more of the Treasury market onto venues scrutinised by regulators, while limiting leverage in some corners of the market....
...Adding to investor concerns is the proportion of deposits that lenders invested in longer-dated securities like US Treasuries and mortgage-backed securities when interest rates were low....
...When Amar Bhidé joined the board of Baillie Gifford’s flagship Scottish Mortgage Investment Trust three years ago, an insider complimented the academic as a “world-class brain and a world-class bastard”...
...Critics rightly lambasted rating agencies for the flawed validation of mortgage-backed securities that triggered the financial crisis of 2008-9....
...In many cases, big commercial real estate lenders in San Francisco, which include JPMorgan, Deutsche Bank, Wells Fargo and Bank of America, syndicated the property debt via commercial mortgage-backed securities...
...“They have smaller debt stacks [compared to] the size of their overall capitalisation. They’re less levered,” says Maureen O’Connor, global head of Wells Fargo’s high-grade debt syndicate....
...The market just went off kilter from 2004 to 2007,” argues Fink. “It was just a lack of supervision and regulation, and bad behaviour… But the mortgage-backed security market is flourishing again now....
...Goldman Sachs’ credit strategists, for their part, say that the agency mortgage-backed securities market could incrementally benefit from the treatment of MBS under the new rules: The notice of proposed...
...to the collateralised mortgage obligations that precipitated the global financial crisis have also generated concerns....
...Polls suggest that the most important issues for voters are the economy and security — not surprisingly given high inflation and the war in Ukraine, Poland’s neighbour....
...Initially launched to help small savings banks and support mortgage markets, its mandate was expanded in the 1980s to cover mainstream commercial banks as well....
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