On May 30, 2018, DBRS published a report entitled: Updated Operational Risk Assessment for U.S. ABS Servicers Methodology. Release.
On May 25, 2018, Fitch published a report entitled: U.S. Timeshare Loan ABS Rating Criteria. Release.
Posts by: Thomas Caruso
Rating Agency Developments
On April 6, DBRS published its methodology for rating U.S. Film Rights Securitizations. Release.
On April 6, Moody’s updated its methodology for rating Environmental Services and Waste Management Companies. Release.
On April 6, Moody’s updated its methodology for rating European Social Housing Providers. Release.
Rating Agency Developments
On April 3, DBRS updated its North American CMBS Multi-borrower Rating Methodology. Release.
On April 3, Fitch issued rating criteria for RMBS Lenders’ Mortgage Insurance. Release.
On April 3, Moody’s updated its rating methodology for the Mining Industry. Release.
On April 3, Moody’s updated its rating methodology for the Passenger Airline Industry. Release.
On March 28, 2018, Moody’s issued a statement that its US retail REITs generally will not be affected by Toys R Us’ plans to liquidate all its US Stores. Release.
Federal Banking Agencies Issue Final Rule to Exempt Commercial Real Estate Transactions of $500,000 or Less from Appraisal Requirements:
On April 2, 2018, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a final rule that increases the threshold for commercial real estate transactions requiring an appraisal from $250,000 to $500,000. Press Release. Rule.
SEC Adopts Statement and Interpretive Guidance on Public Company Cybersecurity Disclosures
On February 20, the SEC approved a statement and interpretive guidance to assist public companies in preparing disclosure about cybersecurity risks and incidents. The guidance provides the SEC’s views about public companies’ disclosure obligations under existing law with respect to matters involving cybersecurity risk and incidents. Press release. Guidance.
Rating Agency Developments
On February 21, S&P updated its base-case lease rate assumptions used in analysis of container lease-backed asset-backed securities transactions. Release.
On February 19, DBRS updated its European CMBS rating and surveillance methodology. Release.
On February 15, Fitch updated its EMEA CMBS and CRE loan rating criteria. Release.
Rating Agency Developments
Rating Agency Developments
Agencies Seek Comment on Proposed Amendments to Swap Margin Rule
On February 5, five federal agencies (the Farm Credit Administration, FDIC, Federal Housing Finance Agency, Federal Reserve and Office of the Comptroller of the Currency) proposed to amend swap margin requirements to conform with recent rule changes that impose new restrictions on certain qualified financial contracts of systemically important banking organizations. Under the proposed amendments, legacy swaps entered into before the applicable compliance date would not become subject to the margin requirements if they are amended solely to comply with the requirements of the qualified financial contract rules. Press Release. Proposed Rule.