DTCC Allies with Industry Groups to Solve Nagging Structured Securities’ Payment Processing Problems
June 16, 2006
The Depository Trust & Clearing Corp. is working with securities industry groups to make processing of principal and interest payments for collateralized mortgage obligations and asset-backed securities more efficient, accurate and timely. With the rapid growth of the structured securities markets, including CMOs and ABS, late and inaccurate notifications of payment rates have grown as well and continue to be major concerns despite corrective efforts in the last two years, according to a white…