commercial real estate loans

Rating Agency Developments

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On December 16, 2015, Fitch released updated Criteria Assumptions for UK Residential Mortgages. Press release.

On December 16, 2015, Fitch released updated EMEA RMBS Rating Criteria, which had no impact on existing ratings. Press release.

On December 15, 2015, S&P issued Structured Finance Temporary Interest Shortfall Methodology, effective immediately (except where notification or registration is required). Report.

On December 15, 2015, DBRS released a report entitled Global Methodology for Rating Banks and Banking Organisations. Report.

On December 15, 2015, DBRS released a report entitled DBRS Criteria: Support Assessments for Banks and Banking Organisations. Report.

On December 15, 2015, DBRS released a report entitled Master European Structured Finance Surveillance Methodology. Report.

On December 15, 2015, DBRS released a report entitled Operational Risk Assessment for European Structured Finance Originators. Report.

On December 14, 2015, Moody’s published its Global Approach to Rating Collateralized Loan Obligations. Report.

On December 10, 2015, Fitch released updated Criteria for Analysis of Commercial Real Estate Loans Securing Covered Bonds. Press release.

Rating Agency Developments

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On October 1, DBRS released its methodologies for rating companies in oil and gas and oilfield services. Oil and Gas. Oilfield Services.

On September 30, Moody’s released its methodology for rating companies in the consumer durables industry. Report.

On September 30, Fitch proposed a new methodology for estimating losses for US RMBS transactions. Comments should be submitted by October 31. Report.

On September 30, DBRS released its methodology for analyzing legal criteria in European structured finance transactions. Report.

On September 29, Moody’s released its methodology for rating bond programs issued by housing finance agencies and secured by multifamily loans. Report.

On September 29, Fitch proposed a new methodology for rating commercial real estate loans securing covered bonds. Comments should be submitted by October 27. Report.

Note: Free registration is required for rating agency releases and reports.

OCC Stress Testing Guidance and CRE Stress Test Tool

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On October 18, the OCC provided guidance to national banks and federal savings associations with assets of $10 billion or less on using stress testing to assess risk in their loan portfolios.  The guidance indicates that stress tests do not need to involve sophisticated analysis or third-party consultative support.  The OCC is also making available a new portfolio level stress tool for income producing commercial real estate loans.  OCC Release.