Posts by: Editorial Team

Rating Agency Developments

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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.

Capital: Notice of Proposed Rulemaking

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On December 17, three entities – the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency – “published a notice of proposed rulemaking [] to provide an updated framework for measuring derivative counterparty credit exposure.” Release.

SEC Adopts Final Rules for Disclosure of Hedging Policies

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On December 18, “[t]he Securities and Exchange Commission (“SEC”) [] approved final rules to require companies to disclose in proxy or information statements for the election of directors any practices or policies regarding the ability of employees or directors to engage in certain hedging transactions with respect to company equity securities.” Release.

SEC Adopts Rule of Practice 194

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On December 19, the Securities and Exchange Commission (“SEC”) published its adoption of Rule of Practice 194, which, generally speaking, “creates a transparent, efficient, and comprehensive process for a registered security-based swap dealer or major security-based swap participant, collectively known as SBS Entities, to apply to the Commission for relief from the statutory disqualification prohibition found in Exchange Act Section 15F(b)(6).” Release.