Mortgage-backed securities (MBS)
RBA seeks more transparency in securitisation market
Reserve Bank of Australia assistant governor says new information requirements in the securitisation market will enable financial institutions and investors to better assess risk
ECB relaxes collateral eligibility rules
Broader range of lower quality assets now acceptable under ECB collateral rules; move should help Spanish banks after results of stress test reveal a potential €62 billion capital shortfall
RBA’s Debelle discusses eligibility criteria for new liquidity scheme
Reserve Bank of Australia assistant governor Guy Debelle says inclusion of self-securitised mortgage-backed securities as eligible collateral in committed liquidity facility will reduce systemic risks
Philly Fed paper on ratings agency failures in subprime market
Philadelphia Federal Reserve study says ratings agencies' AAA-rating of mortgage-backed securities helped spur the subprime mortgage crisis
New York Fed RMBS sales go smoothly
Auctions of AIG legacy portfolio delivering a solid result for the Fed
Bank’s Fisher optimistic on winding down crisis facilities
Bank of England executive director of markets Paul Fisher says recent progress in markets reinforced decision to end special liquidity scheme next year
Rejected Maiden Lane II offer baffles AIG
New York Federal Reserve declines AIG bid for Maiden Lane II assets; insurer says decision was unanticipated, expresses disappointment with Fed
Barclays shows interest in Maiden Lane II assets: reports
Reports that Barclays may consider an offer for residential mortgage-backed securities held in New York Federal Reserve’s Maiden Lane II portfolio could thwart AIG bid
US Treasury to offload $142 billion in agency MBS
US Treasury announces plans to wind down portfolio of agency securities bought from beleaguered Fannie Mae and Freddie Mac during crisis; move not expected to impact Fed policy
AIG makes $15.7 billion offer for Maiden Lane II
New York Fed receives formal offer for bailout vehicle containing AIG’s residential mortgage-backed securities portfolio; insurer in bid to reduce debt to Washington
Europe contributed to global savings glut: Fed paper
Federal Reserve study says European demand for US securities helped push US Treasury yields lower
Monetary policy effects on housing bubble: Bank paper
Bank of England study measures impact of monetary policy and capital inflows on housing activity
MBS purchase programme sent strong signal to mortgage market: Fed paper
Federal Reserve study says mortgage-backed security purchase programme had strong signalling effect on mortgage bond market
Fisher: Bank special liquidity scheme will not be extended
Bank of England executive director of markets Paul Fisher says government bond swap facility will expire in 2012
Non-government bond market recovery slow: Australia’s Debelle
Reserve Bank of Australia assistant governor Guy Debelle says spreads on non-government bonds remain high
Minneapolis Fed’s Kocherlakota on the FOMC’s outlook
President of Minneapolis Federal Reserve Narayana Kocherlakota says recovery will only be “moderate”
New York Fed details how it plans to implement latest policy move
New York Federal Reserve says it will hold levels of domestic securities at $2.054 trillion by buying long-term Treasuries; plans to steer away from scarce markets
FOMC pledges to maintain scale of asset purchases
Federal Reserve fails to announce additional quantitative easing but pledges to keep size of purchases at current levels; calls for more easing spurred by weak jobs data
Freddie Mac reports $6 billion loss in second quarter
Federal Home Loan Mortgage Corporation shows a $6 billion loss as strenuous conditions persist in US housing market; agency asks for extra $1.8 billion in Treasury assistance
Fannie Mae posts lowest loss since conservatorship
Fannie Mae reports a $1.2 billion loss, the lowest quarterly loss since its conservatorship
NY Fed to start second set of reverse repo tests
New York Federal Reserve will conduct further tests of reverse repurchase operations tool in preparation for eventual exit from monetary support; tests will involve agency MBS, unlike previous trial
Fed survey shows growing appetite for risk in OTC markets
Inaugural Federal Reserve survey on financing of over-the-counter derivatives shows growing demand in risky assets
Central banks’ holdings of US agency debt rise on dollar demand
Fed data show official-sector holdings of US agency securities rose for a 12th straight week; auction for seven-year US Treasury bills displayed growing demand for dollar denominated assets