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

Industry News

U.S. Airports Travel Trends Stabilize Amid Pandemic, Fitch Says

A recent Fitch Ratings report finds that most U.S. airports are reaching pre-pandemic passenger trends despite COVID-19 variants earlier this year. Since its last report, Fitch has revised its rating outlook for nearly all domestic airports from negative to stable. Increased debt issuances are also signaling a return to normality with many airports already coming to market in 2022.

Industry News

Fed Chair Powell Discusses Game Plan for Combatting Rise in Inflation

On May 17, Federal Reserve Chair Jerome Powell in a Wall Street Journal interview stated he is committed to taking interest rates as high as necessary to get inflation headed in the direction of the central bank's 2% target. This comes after earlier this month, the Fed raised benchmark borrowing rates by half a percentage point, the second increase of 2022 as inflation reached around a 40-year high. Fed officials continue to stress that the rise in inflation is only temporary.

Industry News

EU Lawmakers Introduce Stricter Rules for Regulating Green Bond Market

On May 17, the EU Parliament’s Economic and Monetary Affairs Committee announced a series of proposals establishing new rigorous rules for the EU Commission’s regulation of the green bond market. The proposal aims to improve transparency and monitoring of the green bond market in an effort to reduce greenwashing.

Industry News

Chair Gensler Testifies Before Congress on Additional SEC Funding

On May 18, Securities and Exchange Commission (SEC) Chair Gary Gensler testified before the House Appropriations Subcommittee on Financial Services. The hearing concentrated on budget and funding following the SEC’s request for a substantial budget increase for fiscal year 2023.

Industry News

Federal Reserve Financial Stability Report Warns of Worsening Liquidity

In its semi-annual report, published May 5, the Federal Reserve took a cautionary tone in describing the dramatic changes since its last report in November 2021, citing human and economic hardship due to the Russian invasion of Ukraine, the spread of the COVID Omicron variant and inflation that has been higher and longer than anticipated as elements of the vulnerabilities of the U.S. financial system.

Industry News

Secretary Yellen Testifies before Congress for FSOC Annual Report

On Tuesday May 10 and Thursday, May 12, Treasury Secretary Janet Yellen testified before the Senate Banking Committee and House Financial Services Committee respectively, as part of the Financial Stability Oversight Council’s annual report to Congress. The scope of the hearings were broad, covering climate risk, cybersecurity, energy, LIBOR, Russian sanctions, and other topics that fall under FSOC’s broad purview.

Industry News

Julia Gordon Confirmed as FHA Commissioner

After a long and contentious confirmation process, which began in June 2021, the Senate confirmed Julia Gordon as Commissioner of the Federal Housing Administration (FHA) on May 11.

Industry News

Senate Confirms Jay Powell, Lisa Cook and Philip Jefferson to Federal Reserve Board

On May 12, the Senate confirmed Jay Powell to his second term as Chair of the Federal Reserve by a vote of 80-19. Earlier in the week, economist and Michigan State University professor Lisa Cook was confirmed to serve on the Federal Reserve’s Board of Governors after a vote of 51-50 with Vice President Kamala Harris casting the deciding vote, and Philip Jefferson was confirmed on a 91-7 vote.

Industry News

SEC Extends Comment Period on the Proposed Climate Risk Disclosure Rule, Reopens Comment Period on Two Other Rule Proposals

Following advocacy efforts by SFA and others, the SEC is providing additional time for the public to comment on recent rule proposals. Three SEC rule proposals—Regulation ATS proposed in November, amendments to the Investment Advisers Act for private fund advisers proposed in February, and most recently corporate disclosures of climate-change risks—were each originally opened to only a 30-day response period.

Industry News

S&P Responds to Industry Criticism of New Ratings Criteria

After receiving feedback from SFA and the industry, S&P Global confirmed on May 9 that it will delay any immediate changes to its criteria for rating insurance and reinsurance companies which includes rating inputs of bonds and loans, reinsurance counterparties and deposits with credit institutions.

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