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Schwab Pledged Asset Mortgage leverages eligible securities in a client's investment portfolio as an additional guarantee for a mortgage loan, rather than necessitating the sale of stock for a down payment.
The Chair of BDZ Holding's Board of Directors also made it clear that the bondholders had sent a letter two days ago, demanding an exhaustive list of BDZ's pledged assets with documents certifying the current status.
Importantly, we were able to mutually terminate a recently executed Security and Loan Agreement releasing all related and pledged assets, secured by this agreement.
The collateral limits the lenders' downside risk, and the fear of losing the pledged assets encourages borrowers to act prudently.
8220;With the growing complexity of the FHLB's credit and collateral policy it is becoming increasingly difficult for member banks to ensure pledged assets meet the Federal Home Loan Banks' standards in order to obtain maximum borrowing power,” said David Green, President and CEO of The StoneHill Group.
The firm, which sees Mr Dudley take over from embattled chief executive Tony Hayward, said it had also pledged assets, including interests in production from its major Thunder Horse and Mad Dog operations, to support a pounds 20bn compensation fund.
There is a possibility of the foreign creditors having the first claim over the pledged assets of the company, leaving the domestic banks in the lurch," she added.
Kuwait, 24 August: Kuwaiti local banks are facing no pressure from the Central Bank of Kuwait (CBK) to liquidate pledged assets, Kuwaiti Banking Association (KBA) Chairman Abdelmajid al-Shatti said here Monday.
Preparers often struggle with the level of detail to provide in note disclosures of pledged assets and other collateral arrangements.
Amiri co-founder Richard Ellis told Reuters that Gulf-based investors have pledged assets to the fund of funds but investments will be made when the market shows signs of improvement.