The consultation process has been successful in delivering improvements to the initial concept for a new
mortgage bond standard to support financial intermediation, liquidity management and funding in New Zealands markets.
But with interest rates at current lows, even the worst of the
mortgage bonds underlying the CDOs are now much more attractive investments -- just one reason that nearly every major Wall Street bank entered the auction.
The two banks are said to be planning for a USD1.4bn commercial
mortgage bond sale.
The strong growth ha the European
mortgage bond markets in the last few years has been accompanied by massive changes in the rules governing the issue of those bonds.
It is therefore not appropriate to the development of
mortgage bonds as a source of funding these mortgages and banks have turned towards securitisation instead.
The bank is to stop forint-denominated
mortgage bond purchases because of low issuances on the primary market.
There are currently discussions focused on clarifying existing Spanish legislation with reference to the privilege of the holder of the
mortgage bond in the event of bankruptcy.
The Executive Board of the Magyar Nemzeti Bank has approved the notices on the terms and conditions of the
mortgage bond purchase programme and the MIRS tenders.
This follows a review of domestic and international
mortgage bond collateral standards.
Banks worldwide were forced to take hefty bad debt losses as they wrote down the values of their US
mortgage bond portfolios.
Summary: The New York attorney general has launched a probe into the
mortgage bond rating practices of major ratings firms as a factor in the 2008 financial crisis, a person close to the investigation said.
The narrowing spread in the
mortgage bond market reflects increased demand by banks and insurers seeking investment alternatives to utility debt, which account for 20 percent of outstanding corporate bonds in Japan.
