Read the latest articles and press releases about securitization and structured finance.

Press Releases

Structured Finance Association Expands Policy Team with Two Additional Experts

SFA welcomes David Dwyer as General Counsel for Policy and Regulatory Affairs and Frank Tallerico as ABS Policy Director.

Industry News

FDIC Acknowledges Oversight Shortcomings Towards First Republic Bank

In a report issued by the FDIC on September 8, the agency acknowledged that measures could have been implemented by bank regulators to mitigate deposit runs at First Republic Bank. The report emphasizes that the FDIC could have further scrutinized interest rate and liquidity risk exposures, that could have reduced the bank’s vulnerability to the contagion effects witnessed in March 2023.

Industry News

CFPB Director Chopra Warns of Potential Disruption Tied to Supreme Count Case

n a speech on September 11, CPFB Director Rohit Chopra addressed the CFPB v. Community Financial Services Association of America case, which deals with the constitutionality of the agency’s funding structure. In his remarks, Chopra argued that an adverse ruling could be destabilizing and call into question a decade of CFPB rulemakings, most specifically around housing finance regulations.

Industry News

Senate Banking Committee Holds Hearing with SEC Chair Gary Gensler

The Senate Committee on Banking, Housing and Urban Affairs held a hearing on September 12, with SEC Chairman Gary Gensler, titled “Oversight to the U.S. Securities and Exchange Commission”. Democrats praised Gensler for his oversight and banking enforcements, and questioned Gensler as to the timeline of the SEC’s climate disclosure proposal.

Industry News

HFSC Holds Hearing on Basel III Capital Proposal

On September 14, the House Financial Services Committee (HFSC) held a Subcommittee hearing on Financial Institutions entitled, “Implementing Basel III: What’s the Fed’s Endgame?” The hearing focused on the recent proposed rulemaking from prudential regulators that would increase the capital requirements for banking institutions.

Industry News

FHFA Announces Public Engagement Process for Updated Credit Score Requirements

On September 11, the FHFA announced next steps in the adoption of new credit score requirements by Fannie Mae and Freddie Mac. The FHFA is forming stakeholder forums and listening sessions to solicit additional public engagement during the transition.

SFA News

Michael Bright Featured in American Banker Discussing the SEC’s Proposed Rule Prohibiting Conflicts of Interest in Securitizations

On September 12, SFA CEO Michael Bright was featured in an OpEd published by American Banker, discussing the SEC’s proposed rule, aimed at prohibiting conflicts of interest in securitizations. Bright emphasizes the unintended consequences the rule could have on financial markets, if it were adopted as written.

Commercial Real Estate Poses Risk to Small and Regional Banks

According to the Wall Street Journal, U.S. banks doubled their commercial real estate (CRE) lending between 2015 and 2022, with many loans originated by small and medium-sized banks. According to WSJ analysis, bank’s total exposure to CRE—including indirect exposure such as bank lending to CRE financial companies, investments in CMBS, and foreclosed CRE properties owned by banks—is approximately $3.6 trillion.

Industry News

Basel Capital Proposal Jeopardizes Bank-Related Legislation on the Hill

Political pundits anticipate difficulties in advancing banking related legislation amid the recent Basel III endgame proposal which is expected to increase the capital requirements for the largest institutions. Both chambers have returned from recess to face a potential shift in focus on several banking issues — ranging from credit card interchange fees to cannabis banking.

Industry News

Senate Confirms Fed Nominees

This week the U.S. Senate overwhelmingly expressed support by a vote of 88-10 to confirm Philip Jefferson as the Federal Reserve Board’s next Vice Chair. He succeeds Lael Brainard, who departed the Fed earlier this year to become the Director of the National Economic Council.

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