Sure, big banks have sizeable unrealized losses from MBS classified as held-to-maturity. But as long as the banks don’t sell the MBS, the losses remain unrealized.
The hedge advisor’s automation of the assignment-of-trade process allows lenders to save on bid-ask spreads and increases efficiencies for correspondent investors.
Ginnie officials meet with government and private finance entities in Taiwan and South Korea; Chase hopes to use securitization to reduce capital requirements; Fitch downgrades PacWest’s credit-risk transfer deal; KBRA gives all clear on bank exposure in non-agency MBS.
Silicon Valley Bank failed after complications involving funding provided to the bank by the Federal Home Loan Bank system and the Federal Reserve. MBS holdings also played a role in the bank’s failure.
The MBS held by two failed banks will soon hit the market; specified pool trades hit record level in March; Fannie increases disclosures on multifamily MBS; LIBOR to live on in synthetic form.
Mutual funds, foreign investors and insurance companies boosted their MBS holdings during the fourth quarter as banks and the Federal Reserve pulled back. (Includes three data charts.)
On any given day, a buyer can be found for two of the most liquid assets out there: Treasuries and MBS. But that doesn’t mean they can be sold at a profit. If anything, the bank liquidity crisis reminded us: Don’t put all your assets in one held-to-maturity basket. (Includes data chart.)
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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