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The article discusses the Arthur Glick Truck Sales Inc. v. Stuphen East Corp. and Travelers Casualty and Surety Co. of America which deals with security interest. It says that the consignor's argument on the preclusion of buyers in ordinary course of business (BIOCOBs) status for the fire districts was rejected by the New York court. It states that the two fire districts were qualified as BIOCOB as ruled by the court in New York.

The article reports on the public sale of collateral held by the Central Hanover Bank & Trust Co. for an Insull Utility Investment loan in New York City in 1935. The collateral includes 12,300 shares of Commonwealth Edison capital stock, 27, 352 shares of Peoples Gas, Light & Coke Co. and no-par common of Public Service Co. of Northern Illinois. Central Hanover purchased all the stocks during the public bidding. The Insull loan was valued at 3 million U.S. dollars, while the stocks were acquired by Central Hanover for less than 2 million U.S. dollars.

Action by the New York Money Pool Committee in relaxing regulations controlling the lending of money upon the pledge of collateral securities marks the first step by New York bankers toward removing barriers against speculative loans. The new rules exclude from the limit of loans for which a broker can apply that proportion of his credits which are based upon the security of bonds and short-term notes, as distinguished from stocks. While it will not result in enlarging the supply of money available to support stock-market speculation, it will be of great assistance to the bond dealers and investment houses which are accustomed to see an active market for bonds in the closing days of the year.

The article discusses the comment the journal received on its analysis of a New York case involving ambiguous language in a financing statement's collateral description, citing the December 2014 issue which reported on the New York bankruptcy decision on the In re Sterling United, Inc. case. The question was focused on the court's assertion that the same standard applies to errors regarding collateral description as applies to errors in the debtor's name.

This article reports that Ed Blount, executive director of Astec Consulting in New York, sets out why controlling liquidity risk is so important, and the impact of different interest rate scenarios on cash reinvestment returns. Controlling liquidity risk is the most important consideration when a lender is considering changing its collateral policies. Some market participants in Europe remain extremely wary of taking cash collateral.Controlling liquidity risk is especially important when lending fixed income securities against cash, if it is to be reinvested in instruments that bear a non-diversifiable exposure to market risk.

The article talks about several factors to consider when purchasing house title insurance in New York. Topics discussed include the need for house buyers to make sure their properties are protected with title insurance, banks' requirement that their collateral is safeguarded when they loan money, and the identical rates of title insurance agents in New York. Also mentioned is the difference between insurance underwriters and agents.

The New York City Department of Transportation has extended the submission deadline for statements of qualifications to operate and maintain its parking meters [ABSTRACT FROM AUTHOR]

The article reports that the firm Lloyd & Co. has received approval from the New York Insurance Department to post reduced capital in New York. The firm will have to post reduced collateral on reinsurance contracts in the city. Further it mentions that the London market can now post 20 percent following its approval as a Secure-3 resinsurer.

The article reports that New York has approved reinsurer Alterra Bermuda Ltd. as eligible for reduced collateral status. Alterra Bermuda can now post collateral for 20% of casualty reinsurance or property loss reserves in the state than 100% which most non-U.S. reinsurers require. The State of Florida had previously approved Alterra Bermuda as an eligible reinsurer for reduced collateral status.

The article reports that Bermuda-based reinsurer Tokio Millennium Re has got its collateral limits reduced from 100% to 10% in New York state. The firm has also been allowed the same status in Florida. It informs that New York had earlier approved reinsurer Alterra as eligible for reduced collateral status.

The article focuses on the use of art in securing loans amidst a recession. It notes that works of art are being used as security loans while the art market withstands the financial crisis. It mentions that the Metropolitan Opera in New York has opted to offer two of its murals by Marc Chagall as collateral for an existing loan from JP Morgan Chase. It discusses factors to be considered in such lending which include the evidence of title, questions of authenticity and purpose of the loan.

The article discusses the decision of the Metropolitan Opera in New York City to collateralize two paintings found in its lobby including "The Triumph of Music" and "The Sources of Music," both painted by the artist Marc Chagall. Commentary is provided by Met spokesman Peter Clark on the financial nature of the collateralization.

The article reports that the ratings of 131 tranches in 17 alternative-A securitizations from various issuers have been downgraded by Moody's Investors Service Inc. in New York. The negative action is due to higher-than-expected rates of deliquency, foreclosure and real estate-owned in the underlying collateral relative to credit enhancement levels. There are 72 of the downgraded tranches remain on review for possible further downgrade and 42 other tranches are on review for possible downgrade.

The article reports on the increasing role of Federal Home Loan Bank System (FHLB) in the mortgage industry due to the crisis that the industry faces in New York. According to the author, because of the ability of the bank to call for an additional collateral, Alfred DelliBovi, chief executive officer of FHLB, believes that they are fitted to handle the issue of credit risk in the housing market. Other information related to FHLB are also mentioned.

Highlights the "CDO and Credit Derivatives" conference of the Information Management Network, held in New York City in March 2005. Problems in the collateralized debt obligations (CDO) market; Leverage loans and other CDO collateral being created; Move toward real estate collateral; Concern about the qualifications of certain collateral managers.

The article reports on the move of a group who represents the bondholders of Chemtura Corp., a Connecticut-based chemical company that filed for Chapter 11 on March 18, 2009, to file documents with a Manhattan, New York City court on April 28. The bondholders contend that the debtor-in-possession loan should include $133 million more in financing as collateral. The security interest was tried to be voided by the bondholders that was granted to them 90 days before the bankruptcy filing.

Reports that sponsors of 15 transportation projects in the United States have expressed interest in competing for $1.67 billion in federal credit assistance. Provisions of the 1998 Transportation Infrastructure Financing and Innovation Act; New York City's plan to pledge part of its tobacco settlement to back $500 million in loans.

The Bank of New York's AccessEdge collateral management system is live with internal clients, and will go live with external clients by the end of November 2003. The system is a real-time reporting system for collateral management. AccessEdge allows customers to view the tri-party transactions they have done and the collateral pledged to them in a fashion that is similar to a confirmation tool. The benefit of the system is that it allows firms to keep track of pledged collateral, and thus increase the efficiency with which dealers can fill transactions through the course of the day.

Reports on the proposal of the New York State Banking Department to reduce foreign banks' collateral from deposits and other third-party liabilities. Rationale behind the proposal; Collateral requirement set for well-capitalized banks; Number of foreign institutions regulated by the department; Expected impact of the proposal on the state banking industry.