Alexander Radisich

Associate

Los Angeles


Read full biography at www.orrick.com

Alex Radisich, an associate in Orrick's Los Angeles office, is a member of the firm's Structured Finance and Banking and Finance Groups. 

During law school, Alex served as a judicial extern to the Honorable Judge Harry Pregerson of the United States Court of Appeals for the Ninth Circuit, and as a law clerk on the Senate Judiciary Committee for Senator Dianne Feinstein.

Posts by: Alexander Radisich

Rating Agency Developments

 

On January 3, DBRS published a global rating methodology for Rating Life and P&C Insurance Companies and Insurance Organizations. Release.

On January 2, DBRS published its Master U.S. ABS Surveillance Methodology. Release.

On January 2, DBRS published its methodology for Structured Finance Flow-Through Ratings. Release.

On December 31, DBRS published its methodology regarding Legal Criteria for U.S. Structured Finance. Release.

On December 14, S&P issued a report entitled: RMBS: Reimbursement Curves for Servicer Advance Securitizations Backed by U.S. Residential Mortgage Loan Advance Receivables. Release.

On December 14, Fitch issued a report entitled: Fitch Updates U.S. State Housing Finance Agencies: Pooled Multifamily Housing Bonds Rating Criteria. Release.

On December 13, DBRS issued a report entitled: Operational Risk Assessment for U.S. ABS Originators. Release.

On December 13, Fitch issued a report entitled: Fitch Updates U.S. RMBS Seasoned and Re-Performing Loan Criteria. Release.

Rating Agency Developments

 

On October 10, DBRS published a rating methodology regarding Derivative Criteria for European Structured Finance Transactions. Release.

On October 9, Moody’s published a rating methodology for the Paper and Forest Products Industry. Release.

On October 9, S&P published a table of contents for its Structured Finance Global Ratings Criteria. Release.

On October 8, Fitch published its rating criteria for U.S. RMBSRelease.

On October 8, Fitch published its rating criteria for U.S. Covered BondsRelease.

On October 5, Fitch published its rating criteria for European RMBS. Release.

On October 5, DBRS published an Operational Risk Assessment for European Structured Finance Servicers. Release.

On October 5, DBRS published an Operational Risk Assessment for European Structured Finance OriginatorsRelease.

Rating Agency Developments

 

On June 19, 2018, Fitch published its rating criteria for U.S. Federal Family Education Loan Program Student Loan ABS. Release.

On June 19, 2018, Fitch published its rating criteria for EMEA CMBS. Release.

On June 19, 2018, Moody’s published a rating methodology for Debtor-in-Possession Lending. Release.

On June 18, 2018, Fitch published its rating criteria for U.S. RMBS. Release.

On June 15, 2018, Fitch published its rating criteria for Distressed Debt Exchanges. Release.

On June 15, 2018, Moody’s published a cross-sector rating methodology on General Principles of Liquidity Risk Assessment. Release.

Federal Reserve Board Approves Rule to Limit Risk Concentration Among Systemically Important Financial Firms

 

On June 14, 2018, the Federal Reserve Board (the “Board“) approved a rule to limit the concentration of risk between global systemically important bank holding companies (“GISB“) and their counterparties. Under the rule, a GISB would be limited to a credit exposure of no more than fifteen (15) percent of such GISB’s tier 1 capital to another systemically important financial firm, and a bank holding company with over $250 billion in total consolidated assets would be limited to a credit exposure of no more than twenty-five (25) percent of its tier 1 capital to a counterparty. Release.

Rating Agency Developments

 

On April 25, 2018 Moody’s published a rating methodology for Generic Project Finance. Release.

On April 24, 2018 S&P published a table of contents for S&P’s Global Ratings Structured Finance Criteria. Release.

On April 23, 2018 Moody’s published a report on The Performance of Moody’s Structured Finance Ratings – 2018Q1. Release.

On April 23, 2018 DBRS published a rating methodology for Canadian Covered Bonds. Release.

On April 20, 2018 DBRS published a rating methodology for Operational Risk Assessments for Canadian Structured Finance. Release.

On April 20, 2018 Fitch published its rating criteria for U.S. RMBS Seasoned, Re-Performing and Non-Performing Loans. Release.

On April 19, 2018 DBRS published a rating methodology for Canadian Public Hospitals. Release.

Rating Agency Developments

On February 28, 2018, Moody’s published a list of Outdated Credit Rating Methodologies. Release.

On February 28, 2018, DBRS published an updated analysis criteria for Commercial Real Estate Property. Release.

On February 28, 2018, Fitch published an addendum to its rating criteria for Norway Residential Mortgages. Release.

On February 28, 2018, Fitch published its rating criteria for Renewable Energy Projects. Release.

On February 27, 2018, Moody’s published a rating methodology for Tender Option Bonds and Related Instruments. Release.

On February 26, 2018, Fitch published its rating criteria for Public-Sector, Revenue-Supported Debt. Release.

On February 23, 2018, Fitch published its rating criteria for Airports. Release.

On February 23, 2018, Fitch published its rating criteria for Ports. Release.

On February 23, 2018, Fitch published its rating criteria for SME Balance Sheet Securitizations. Release.

On February 23, 2018, Fitch published its rating criteria for CLOs and Corporate CDOs. Release.

On February 22, 2018, Fitch published its rating criteria for U.S. Public Finance Structured Finance Transactions. Release.

On February 22, 2018, Fitch published its rating criteria for U.S. Public Finance Letter of Credit-Supported Bonds and Commercial Paper. Release.

On February 22, 2018, Fitch published its rating criteria for Toll Roads, Bridges and Tunnels. Release.

On February 22, 2018, S&P published an updated rating criteria for RMBS: U.S. Residential Mortgage Operational Assessment Ranking Criteria. Release.

On February 22, 2018, S&P published an updated rating criteria for RMBS: Methodology and Assumptions for Rating U.S. RMBS Issues 2009 and Later. Release.

On February 22, 2018, S&P published an updated rating criteria for RMBS: Assumptions Supplement for Methodology and Assumptions for Rating U.S. RMBS Issues 2009 and Later. Release.

SEC Extends Compliance Deadline for Certain Aspects of Liquidity Risk Management Programs Under the Investment Company Act

On February 22, 2018, the Securities and Exchange Commission (“SEC“) announced that it is adopting an interim final rule that provides a six-month extension for compliance with certain requirements of Rule 22e-4 regarding a fund’s liquidity risk management program, including the portfolio classification, highly liquid investment minimum, and board approval requirements, as well as related reporting requirements under Part D of Form N-LIQUID and liquidity disclosures on Form N-PORT under the Investment Company Act of 1940.  The interim final rule extends the compliance deadline for small entities from June 1, 2019 to December 1, 2019 and for larger entities from December 1, 2018, to June 1, 2019.  The SEC also issued guidance to assist (i) funds that will not classify their full portfolio prior to the revised compliance date and (ii) In-Kind ETFs in identifying illiquid investments for purposes of complying with the 15% illiquid investment limit under Rule 22e-4. Release.

OCC Amends Rules Governing Annual Stress Testing Under Dodd-Frank

On February 23, 2018, the Office of the Comptroller of the Currency (“OCC“) announced a final rule that revised the OCC’s annual stress test regulation.  Under the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act“), the Board of Governors of the Federal Reserve System (the “Board“) is required to conduct annual stress tests of holding companies with $50 billion or more in assets.  The OCC’s final rule (i) extends the range of possible “as-of” dates used in the global market shock component of the annual stress test to conform to changes made by the Board and (ii) provides additional time for bank holding companies that cross the $50-billion-in-assets threshold in the fourth quarter of a calendar year to prepare for the stress testing requirements.  Under the final rule, a bank holding company that crosses the $50 billion threshold in the fourth quarter of a calendar year will not be subject to the stress testing requirements until the third year after it crosses such threshold. Release.

CFTC Approves Amendments to Rules on Intermediary Registration and Review of Adverse Actions

On January 9, 2018, the U.S. Commodity Futures Trading Commission (the “CFTC“) approved final rules that update Parts 3 and 9 to integrate existing advisory guidance, incorporate swap execution facilities (“SEFs“) and update provisions currently applicable to designated contract markets (“DCMs“). Part 3 governs registration of intermediaries and Part 9 relates to CFTC review of exchange disciplinary, access denial, or other adverse actions. Press Release. Rules.