Secondary Market/Investors
RBC: Fun and Games with CDO Losses
By PAUL JACKSON
November 13, 2007 7:50 AM CST
Looking at a press release put out this morning by Royal Bank of Canada, you’d think the news was the bank’s $325 million pretax gain on Visa’s recent IPO.
You’d be wrong, because the lead is buried at the bottom of the press statement:
RBC also expects to record a charge in its Capital Markets segment in the fourth quarter associated with the valuation of subprime collateralized debt obligations (CDOs) and subprime residential mortgage-backed securities (RMBS) of approximately $360 million pre-tax ($160 million after-tax and reflecting compensation adjustments).
Surprise!
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2009 Jul 09 -- 2009 Jul 10
USFN Legal Issues in Mortgage Servicing Seminar
Geared towards in-house counsel, designed to discuss current legal issues in the mortgage servicing industry and real estate finance. Closed event in Chicago, Ill.; for more information, visit www.usfn.org.
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RMBS: Assessing Value and Risk
This two-day course in Washington, DC will equip market participants with the knowledge and skills to evaluate prime, Alt-A and subprime RMBS portfolios in order to assess their value and understand inherent risks. For more information, visit www.fitchratings.com.
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