Fed green lights more capital relief trades
Five US banks authorised to issue repeat credit-linked notes backed by financial guarantees
The US Federal Reserve has given five regional banks permission to treat credit-linked notes (CLNs) that transfer default risk to investors through financial guarantees as synthetic securitisations for capital purposes.
The relief – which was granted in a series of letters sent to Ally Financial, Huntington Bancshares, Santander USA, Truist and US Bancorp between November of last year and the
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