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Q&A with Tara Castillo on impact of new SEC disclosure rules on securitization market
  • Alston & Bird LLP
  • USA
  • September 5 2014

On August 27, the Securities and Exchange Commission expanded disclosure requirements for publicly issued asset-backed securities as mandated by the


National Credit Union Administration revises and extends term of Temporary Corporate Credit Union Liquidity Guarantee Program
  • Alston & Bird LLP
  • USA
  • May 28 2009

Today, the National Credit Union Administration (NCUA) announced certain revisions to and the extension of its Temporary Corporate Credit Union Liquidity Guarantee Program (TCCULGP), which was adopted last October


U.S. Senate Banking Committee holds hearing entitled “Lessons of the New Deal”
  • Alston & Bird LLP
  • USA
  • April 8 2009

Last week, the U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing entitled “Lessons of the New Deal” in which witnesses reflected and commented on key economic parallels between the Great Depression and the New Deal and the present economic crisis


Federal Reserve expands TALF to include commercial mortgage-backed and insurance premium finance loan securities
  • Alston & Bird LLP
  • USA
  • May 1 2009

Today, the Federal Reserve Board (Federal Reserve) announced the expansion of the Term Asset-Backed Securities Loan Facility (TALF) to include securities backed by insurance premium finance loans and commercial mortgage-backed securities (CMBS


SEC proposes rules regarding third-party due diligence reports and certifications for asset-backed securities
  • Alston & Bird LLP
  • USA
  • June 1 2011

As part of its continuing efforts to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”), on May 18, 2011, the U.S. Securities and Exchange Commission (the “Commission”) unanimously approved for public comment proposed rules that would require nationally recognized statistical rating organizations (NRSROs), issuers and underwriters to make public the findings and conclusions of any due diligence reports prepared by a third-party service provider in an asset-backed securities transaction


Federal Reserve to sponsor national neighborhood stabilization summit
  • Alston & Bird LLP
  • USA
  • August 26 2010

Today, the Federal Reserve announced that it will sponsor a national summit to “discuss methods and resources for encouraging neighborhood stabilization in the aftermath of the U.S. home mortgage foreclosure crisis.”


CFTC issues advisory clarifying the extent to which US investors may trade in foreign security futures products
  • Alston & Bird LLP
  • USA
  • June 10 2010

On June 8, 2010, the Commodity Futures Trading Commission's (CFTC) Division of Clearing and Intermediary Oversight (DCIO) issued an advisory (the "CFTC Advisory" or "Advisory") clarifying the extent to which certain sophisticated customers located in the United States may trade in foreign security futures products (FSFPs


East West Bank, Pasadena, California, assumes all of the deposits of Washington First International Bank
  • Alston & Bird LLP
  • USA
  • June 12 2010

On Friday, the Washington Department of Financial Institutions closed Washington First International Bank, headquartered in Seattle, Washington, and appointed the FDIC as receiver


Financial Crisis Inquiry Commission continues hearings on shadow banking system
  • Alston & Bird LLP
  • USA
  • May 7 2010

Yesterday, the Financial Crisis Inquiry Commission (FCIC) held the second of a two-day hearing entitled "The Shadow Banking System."


FASB votes to adopt substantial changes to fair value accounting
  • Alston & Bird LLP
  • USA
  • April 3 2009

Yesterday, the Financial Accounting Standards Board (FASB) voted to adopt changes to its fair value accounting standard FAS 157 in response to over 600 "comment letters received on FSP FAS 157-e, Determining Whether a Market Is Not Active and a Transaction Is Not Distressed