Posts by: Alison Epperson

Rating Agency Developments

 

On February 22, Fitch released the following report: What Investors Want to Know: ESG Relevance Scores (Marking the Intersection of Credit Risk and ESG Risks). Report.

On February 22, DBRS released the following methodology: Master European Residential Mortgage-Backed Securities Rating Methodology and Jurisdictional Addenda. Methodology.

On February 22, Moody’s released the following methodology: US RMBS Surveillance Methodology. Methodology.

On February 22, Moody’s released the following methodology: Moody’s Approach to Rating Securitizations Backed by Non-Performing and RE-Performing Loans. Methodology.

On February 21, Moody’s released the following methodology: Moody’s Approach to Rating Transaction Backed by Portfolios of Hedge Fund Investments. Methodology.

On February 21, KBRA published a report entitled: Structured Finance: Subprime Auto Loan ABS: Does Seasoning Matter? Report.

On February 21, DBRS released the following methodology: Rating Pooled Aircraft Lease Securitizations. Methodology.

FDIC-Insured Institutions Report Net Income of $59.1 Billion in Fourth Quarter 2018

 

Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $59.1 billion in the fourth quarter of 2018, up $33.8 billion (133.4 percent) from a year ago. The improvement in net income was led by higher net operating revenue and lower income tax expenses. Financial results for the fourth quarter of 2018 are included in the FDIC’s latest Quarterly Banking Profile released February 21. Release.

FHA Expands Pilot Program to Accelerate Financing of Low-Income Housing Tax Credit Projects

 

On February 21, U.S. Housing and Urban Development (HUD) Secretary Ben Carson announced a significant expansion of a Federal Housing Administration (FHA) pilot program that streamlines FHA mortgage insurance applications for affordable housing developments that have equity from the sale of Low-Income Housing Tax Credit (LIHTC) Program, the nation’s primary source of affordable housing production. Release.

SEC Modifies Timing for Filing of Non-Public Form N-PORT Data

 

On February 27, the Securities Exchange Commission (SEC) modified the submission deadlines for registered investment companies filing non-public monthly reports on Form N-PORT. Form N-PORT is a new form for reporting both public and non-public fund portfolio holdings to the Commission in a structured data format. As a result of today’s changes, rather than filing non-public monthly reports with the Commission within 30 days after each month-end, funds will be required to maintain the relevant information in their records and file all three monthly reports with the Commission no later than 60 days after the end of each fiscal quarter. Release.

Bureau Announces System for Prepaid Issuers to Submit Account Agreements

 

On February 27, the Consumer Financial Protection Bureau (Bureau) announced a streamlined electronic submission system for prepaid account issuers to submit their account agreements to the Bureau. Prepaid issuers can register for the system now before the April 1 effective date of the Bureau’s prepaid rule. Release.

Consumers Slightly Less Optimistic about Personal Finances and the Economy

 

On February 11, the Federal Reserve Bank of New York’s Center for Microeconomic Data released the January 2019 Survey of Consumer Expectations, which shows that while short- and medium- term inflation expectations were unchanged, households were generally less optimistic about the economy and about future changes in their financial situation. Release.