Investments

The Federal Reserve Board governor said adopting policies on climate change are not necessary and risk hurting the central bank's credibility.

The Cleveland-based bank says it will submit to a racial equity audit conducted by an outside law firm, as Citigroup and Wells Fargo have previously done. The bank's decision follows a request that regulators investigate Key's mortgage lending practices for alleged redlining.

Trading of the company's securities was immediately suspended for failure to meet minimum shareholder equity levels, a move it agreed with.

Sluggish sales, high mortgage rates and the exit of iBuyers all contributed to the larger share of properties going for less than original purchase value last month.

Despite dearth of new loans, retail investors' exit from loan funds provides CLOs with new-issue supply.

The decrease in long-term interest rates this year has helped banks' bond portfolios recover a bit. Some of them may consider restructuring their securities portfolios in the short run, and longer-term changes are also possible as the fallout from last month's crisis continues.

In total, around 98,000 loans with a principal balance of $31.8 billion are in the cover pools for the two new insurance-based transactions.

Return on investment fell to 26.9%, the smallest since 2008, according to a new report from Attom.

Excess returns on the bonds, which compares mortgage backed security performance to Treasuries, are -0.94% for March, on track for the worst relative performance since September.

The government-sponsored enterprises will likely have their mainstay bonds exempted from the potential securitization-related rule, but their credit-risk transfers could be subject to it, some experts say.