Monthly Archives: February 2014
The Case for U.S. Covered Bonds
Updated: 5/18/2015 Two U.S. banks issued covered bonds in 2006 and 2007. No U.S. banks have issued covered bonds since, due in part to the complexity of issuing structure used by U.S. banks. Legislation to implement covered bonds in the … Continue reading
More on Canadian Housing Prices
More Views on Low RMBS Issuance
In a letter to the SEC dated February 14, 2014, FINRA stated that during the fourth quarter of 2013, the issuance of mortgaged-related securities declined 33 percent compared to the same period in 2012.
Fed Mortgage Role Expands
With rising rates, new mortgage loan productions has declined. WSJ reports that in November the FED bought 90% of eligible mortgage bond issuance, up from 2/3 earlier in the year, raising liquidity concerns. FNMA/FHLMC issuance fell 59% from a year … Continue reading
PIMCO CB Fund
PIMCO starts managed covered bond ETF fund; see article in Covered Bond Report