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The bond sale that may solve a US$566b problem

It's the first to comply with new rules regarding commercial mortgage-backed securities

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Published Mon, Aug 8, 2016 · 09:50 PM

    New York

    AN upcoming bond sale could determine whether Wall Street banks stay in the US$566 billion business of packaging commercial mortgages into securities.

    The nearly US$871 million issue, from Wells Fargo & Co, Bank of America Corp, and Morgan Stanley, would be the first to comply with new rules designed to make commercial mortgage- backed securities safer for investors. The deal is slated to be sold as soon as this week.

    Bank of America CorpMorgan StanleyBonds

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