Your daily dose of financial news

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Law360 profiles the increasingly strong CMBS market (which fell from $225 billion in 2007 to less than $3 billion just 2 years later but is now climbing towards $100 billion) and the emergence of “floating-rate CMBS loans,” which have interest rates that move with Libor and are generally shorter term (often 2-5 years).   The general sense is that these products and the fierce competition for business is making it a borrowers’ market at the moment – Law360

The rise in nonbank mortgage servicing and post-2008-revealed problems within the servicing industry has prompted a panel of state banking regulators to propose standards for overseeing nonbank servicing firms that it argues would “allow for more consistent applications of consumer protection standards and improve risk management and market discipline in the sector” – Law360

The Dealbook has a few more details on Ruth Porat’s move to Google, who is, ahem, making the move worth her while – NYTimes

SDNY Judge Katherine Forrest yesterday denied defendants’ effort to dismiss antitrust claims in an MDL centered on alleged aluminium price fixing.  The suit, now on its 3rd amended complaint, involves JPMorgan, Goldman Sachs and others on the defense and plaintiffs that include Agfa Corp and Eastman Kodak – Law360 and Bloomberg

The WSJ notes that Japan’s recent zero inflation report means that the Bank of Japan missed its forecast from 2 years ago but warns against finding fault with Abenomics – WSJ

UBS has agreed to resolve claims brought by Capital Ventures International over more than $109 million in risky RMBS sales underwritten by UBS.  The case has been kicking around since 2011 and was moving rapidly to trial – Law360

Have no fear—the dramatic drop in oil prices in recent months have not kept oil producers from making bank.  It’s just that now they’re doing it by cashing out of hedges.  There’s a helpful graphic here to help explain the process – WSJ

That said, not everyone’s finding a silver lining – WSJ

Courage, anglophiles, for while there’s but one more season of the Dowager’s zingers and Edith’s misfortune left to enjoy, the UK is never short on drama, as long as you know where to look for it – Bloomberg

There’s class, and then there’s former UNC coach Dean Smith.  What a guy – Huffington Post

 

Have a great weekend,

 

MDR

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