Total US household debt jumped to a record US$13.29trn in the second quarter, marking the 16th quarter in a row with an increase, the Federal Reserve Bank of New York said on Tuesday.
The long saga surrounding the future of 666 Fifth Avenue in New York City has drawn to a close, but not without more than a hundred million dollars in bonds used to finance the trophy building taking a loss.
The bulk of money borrowed to finance the purchase of 666 Fifth Avenue in New York City has finally been repaid following a tumultuous decade that included a near default and major debt restructuring.
New Zealand’s structured finance market is showing signs of growth ahead of a potential rule change designed to make local securitisations more attractive to the country’s major banks.
The Australian tranches of the upsized A$1bn-equivalent dual-currency Resimac Bastille Trust Series 2018‐1 non-conforming RMBS priced last Friday with the US dollar Class A1 notes set to price on August 13.
Downgrades to the B-piece portion of post-crisis commercial property bonds are on the rise this year, driving up the risks of losses to the very investors who took up these bonds for a yield pick-up.