Securitization Insight

Securitization Insight Ep 34: Kirshner Litigation: Potential Impact on CLOs

Elliot Ganz, Head of Advocacy and Co-Head of Public Policy of the Loan Syndications and Trading Association (LSTA), joins host Patrick Dolan to discuss the appeal of Kirschner v. JPMorgan Chase Bank, N.A., a case that considered whether the origination and distribution of a syndicated bank loan is subject to state securities laws. We discuss the potential impact on loan syndication, trading activity and the CLO market if the Second Circuit reverses the lower court’s decision.

Listen and subscribe to the Securitization Insight podcast on Apple Podcasts, Spotify, or your preferred podcast app.

Kristi Leo, president of the Structured Finance Association, returns to speak with host Patrick Dolan about the new no-action letter regarding Rule 15c2-11, which extends the waiver-of-compliance period for 144A securitizations to two years. We discuss implications the no-action letter will have for securitizations and potential issues including the definition of “fixed income security”.

Eric Daucher, Head of Restructuring in our New York office, joins host Patrick Dolan to discuss the crypto exchange FTX bankruptcy filing. We discuss the potential fraud claims with respect to the transfer of assets out of FTX proper into an affiliated entity and the jurisdictional and creditor rights issues to be addressed in bankruptcy court.

Listen and subscribe to the Securitization Insight podcast on Apple Podcasts, Spotify, or your preferred podcast app.

David Do, Commissioner of the New York City Taxi & Limousine Commission (TLC), joins host Patrick Dolan to discuss the NYC Medallion Taxi Loan Restructuring Program. We discuss the reasons behind its creation as well as the eligibility criteria, terms and successes of the debt relief program to date.

Listen and subscribe to the Securitization Insight podcast on Apple Podcasts, Spotify, or your preferred podcast app.

Securitization Insight Ep 30: EU Securitization Regulation: Due Diligence and Transparency Requirements when Purchasing non-EU Securitizations

David Shearer, partner in our London office, joins host Patrick Dolan to discuss the European Commission’s (EC) report on EU securitization regulation. We discuss the various interpretations of Article 5(1)(e) and how they impact the due diligence and transparency requirements under Article 7 when purchasing non-EU securitizations.

Listen and subscribe to the Securitization Insight podcast on Apple Podcasts, Spotify, or your preferred podcast app.

Securitization Insight Ep 29: CFPB, Consumer Protection, and Securitization: Current Topics

Eamonn Moran, senior counsel in our Washington, DC office, joins host Patrick Dolan to discuss consumer protection and the Consumer Financial Protection Bureau’s (CFPB) recent priorities. We discuss Director Rohit Chopra’s new approach to regulatory oversight and enforcement, and the CFPB’s increased focus on issues of fair lending and racial equity, including credit discrimination and algorithmic bias.
We also cover the potential impact of the recent ruling that student loan trusts are subject to CFPB enforcement authority on consumer securitizations and other whole loan buyers, and what’s next for the CFPB and consumer protection under Director Chopra.

Listen and subscribe to the Securitization Insight podcast on Apple Podcasts, Spotify, or your preferred podcast app.

Celia Cohen, a partner in our New York office, joins host Patrick Dolan on Securitization Insight to speak about the current state of ESG regulation in the US. We discuss the three ESG components, why it’s crucial for companies to be compliant, and what issues they may face in complying with ESG regulations. We also touch on what ESG regulations may look like in the next five years.

Listen and subscribe to the Securitization Insight podcast on Apple Podcasts, Spotify, or your preferred podcast app.

Eric Reither, a partner in our Toronto office, joins host Patrick Dolan on Securitization Insight to discuss the recent developments in the covered bond market. We touch on the history of covered bonds, why banking regulators outside of the US are comfortable with this concept, and where we see the covered bond market in the next few years. We also discuss why Canadian bank covered bond issuance has become such a substantial part of worldwide issuance, and how the recent decline in residential property values in Canada has affected Canadian bank covered bonds.

Listen and subscribe to the Securitization Insight podcast on Apple Podcasts, Spotify, or your preferred podcast app.

Securitization Insight Ep 26: Recent Developments in the ABS Securitization Market

Brock Wolf, Managing Director and Head of ABS Banking at Truist Securities, returns to join host Patrick Dolan on Securitization Insight to discuss how the ABS capital markets have responded to this year’s market volatility. We discuss primary concerns for ABS investors today, including inflation and interest rate increases, and explore trends and opportunities in the ABS warehouse market and the equipment asset class.

Securitization Insight Ep 25: SEC’s Rule 15c2-11 and its Impact on Securitizations
Kristi Leo, President of the Structured Finance Association, returns to join host Patrick Dolan on Securitization Insight to discuss the requirements of the amended SEC Rule 15c2-11 and its impact on the fixed income market. We explore the issues for securitizations related to the Rule’s requirement of publicly available information for Rule 144A securities, and what it means for broker-dealers, legacy securitizations and market liquidity.

Listen and subscribe to the Securitization Insight podcast on Apple Podcasts, Spotify, or your preferred podcast app.