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U.S. dealers see more private-label mortgage security demand: Fed survey

WASHINGTON (Reuters) - Big Wall Street firms have seen demand for private-label mortgage-backed securities pick up over the last few months, according to a survey released by the Federal Reserve on Thursday. The data suggests private capital could be flowing more freely into the U.S. housing market, which has been largely propped up with capital from government-run companies since the 2007-09 recession.

S. Korea's ABS issuance hits record high in 2013

SEOUL, Jan. 22 (Yonhap) -- The issuance of asset-backed securities (ABS) in South Korea hit a record high in 2013 in a bid to secure more funds amid a rise in corporate bond yields, the financial watchdog said Wednesday. ABS issuance rose to an all-time high of 51.3 trillion won (US$48 billion) last year, up 7.8 percent from the previous year, according to the Financial Supervisory Service (FSS). Asset-backed securities are derived from underlying assets such as car loans, home equity loans, credit card receivables and student loans.

Albanian gov't debt to businesses totals 246 mln U.S. dollars

TIRANA, Dec. 4 (Xinhua) -- The Albanian government debt to businesses for unpaid public works until August 31 is estimated at 24.6 billion leks(246 million U.S. dollars), Finance Minister Shkelqim Cani said at a news conference on Wednesday. "My aim, not the government's pledge, is to clear the debt in a single tranche, not in several tranches, aiming at stimulating the economy," Cani said.

Dutch state profits from ING deal on risky US mortgages

The Dutch state said Friday it will end an arrangement to help the country's largest bank ING with risky US-based mortgage securities and earn a profit of around 400 million euros ($540 mn). The Dutch state launched the programme in 2009 to prop up the then-floundering bank by taking over four-fifths of its portfolio of Alt-A mortgage securities in the United States.

Tighter rules, cooling market drives down CMHC insurance activity

OTTAWA - Stricter lending rules continues to slow underwriting activity at the CMHC and taxpayers' exposure to a housing crash, the federal agency's second-quarter report shows. Canada Mortgage and Housing Corp. said Thursday the number of insured mortgages rose slightly in the second quarter compared to the same period last year — largely due to temporary factors — but added that overall, activity has slowed sharply from last year.

Italy unlocks first tranche of private-sector debt repayments

Italy has unlocked 15.7 billion euros ($20.1 billion) in state debt arrears to private companies as part of the first of two 20-billion-euro tranches, the finance ministry said Monday. Unblocking the funds was a key demand of the employers' federation Confindustria to help the many companies struggling through Italy's longest recession in 20 years. Italy in March announced it would pay back the first tranche in the second half of 2013 and the other in 2014.

ABS issuance up 35.5 pct in H1

SEOUL, July 18 (Yonhap) -- The issuance of asset-backed securities (ABSs) in South Korea soared 35.5 percent in the first half of this year, as the state-run mortgage agency jacked up its sale of the financial instrument, the financial regulator said Thursday. Mortgage agencies and local financial and non-financial companies floated a total of 26.8 trillion won (US$23.9 billion) worth of ABSs in the January-June period, compared with 19.8 trillion won a year earlier, according to the Financial Supervisory Service (FSS).

Shuanghui's $4 billion loan raises $5 billion so far

By Jacqueline Poh and Sandra Tsui LONDON (Reuters) - The $4 billion loan backing Chinese pork producer Shuanghui International's $4.7 billion bid for U.S. meat processor Smithfield Foods <SFD.N> has raised $5 billion from banks so far and could rise to $9 billion, banking sources said on Friday.

Lacker: Fed should get out of MBS, avoid overstimulating housing

RICHMOND, Virginia (Reuters) - A recovery in the housing market means the Federal Reserve should think about how to reduce its holdings of mortgage-backed securities over time in order to avoid creating another bubble in real estate, a top central banker said on Friday.

Looser bank buffer rules no panacea for Europe woes

* Basel agreement seen giving banks more capacity to lend * But weak economy weighs on credit demand * Uncertain outlook also means banks nervous about lending * Rules changes may have bigger impact in U.S. than Europe By Paul Carrel and Marc Jones
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