Auction rate securities (ars)
Basel 2.5 prompts flurry of asset sales and risk transfer deals
Original headline:
Source: Risk magazine
The last months of 2011 saw European banks preparing for the arrival of Basel 2.5 by trying to lighten their risk-weighted assets – but a delay in implementing the same rules in the US has created...
Published online only
Source: Operational Risk & Regulation
NEW YORK – UBS has been ordered to pay a settlement of $80.8 million to a mobile phone manufacturer to settle claims the Swiss bank was responsible for a loss of earnings. Kajeet, a firm that specialises...
Original headline:
Source: Risk magazine
Dodd-Frank rules take aim at brokers pushing muni rate swaps for bigger payday
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More Auction rate securities (ars) articles
Dealers in $128m ARS repurchase as legal actions continue
Published online only
Source: Risk magazine
Three securities firms are to repurchase $128 million in auction-rate securities (ARS) from aggrieved holders of the illiquid instrument and will pay $600,000 in fines in the latest in a spate of regulatory actions in response to the mis-selling of the...
UBS sued for alleged ARS fraud
Published online only
Source: Risk magazine
UBS executives sold $21 million of personal auction rate securities (ARSs) holdings just days before the market ground to a halt, while continuing to market the securities to unwitting consumers, a New York State lawsuit has alleged. Attorney-general...
US municipal market faces clean-up under new rules
Published online only
Source: Risk magazine
The municipal bond market in the US is still largely in a state of disarray, well over a year after the collapse of the auction rate securities (ARS) sector, though signs of recovery are visible in the fixed-rated debt market, congressmen have heard....
More ARS writedowns still to come
Published online only
Source: Risk magazine
At least 184 auction-rate securities (ARS) holders are continuing to mark their notes to par almost a year on from the implosion of the $330 billion market - meaning further writedowns are inevitable, a new report has concluded.
Misery for municipals
Published online only
Source: Risk magazine
A year on from the collapse of the auction rate securities market, short-term variable-rate financing in the US remains scarce. In 2009, municipal issuers face surging costs and low interest rates most can't access. By Peter Madigan
BoA and RBC agree ars settlements
Original headline:
Source: Operational Risk & Regulation
WASHINGTON, DC - Bank of America (BoA) and Royal Bank of Canada (RBC) are the latest banks to reach a settlement with the US Securities and Exchange Commission and New York Attorney-General's Office to buy back billions of dollars of auction-rate securities...
Regulatory relief fails to slow increase in ARS litigation
Original headline:
Source: Operational Risk & Regulation
NEW YORK - US regulators are continuing to crack down on firms in an attempt to clean up after the implosion of the auction rate security (ARS) market in February. The US Financial Industry Regulatory Authority in New York settled with a number of firms,...
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