Accounts – Sneer Fri, 17 Sep 2021 17:49:00 +0000 en-US hourly 1 Accounts – Sneer 32 32 KBRA assigns preliminary ratings to RRE 9 loan management DAC Fri, 17 Sep 2021 17:49:00 +0000

LONDON–(COMMERCIAL THREAD) – Kroll Bond Rating Agency UK Limited (KBRA) assigns preliminary ratings to five classes of notes issued by RRE 9 Loan Management DAC, a cash flow secured loan obligation (CLO) backed primarily by a diversified portfolio of loans to companies denominated in euros and bonds.

RRE 9 Loan Management DAC is managed by Redding Ridge Asset Management (UK) LLP (“RRAM UK” or the “Collateral Manager”). The CLO will have a reinvestment period of 4.5 years and a final legal term of 15 years. Ratings reflect initial levels of credit enhancement, coverage tests including face value and interest coverage tests, excess spread and a reinvestment over-collateralization test.

The guarantee of the RRE 9 loan management DAC will mainly consist of largely syndicated leveraged loans and bonds issued by debtor companies diversified in all sectors. The nominal amount of the target portfolio is 400.0 million euros with exposures to 167 debtors. Debtors in the portfolio have a K-WARF of 2460, which represents a weighted average portfolio valuation of approximately B.

RRAM UK is a UK subsidiary of Redding Ridge Asset Management LLC, an independent asset management company established and established by Apollo Global Credit Management, LLC (Apollo) in 2016 to manage CLOs. RRAM UK’s management arm currently manages over € 3.0 billion in assets across seven European CLOs.

Ratings for Class A-1 and Class A-2 Notes reflect the timely payment of interest and final payment of principal on the applicable stated maturity date, while the ratings for Class B, C and D Notes take into account the final payment of interest. and the principal before the applicable stated maturity date.

KBRA analyzed the transaction using Global structured credit rating methodology, the Global structured finance counterpart methodology and the Overall ESG rating methodology.

Click on here to view the report. To access the assessments and relevant documents, click on here.


Further information on key credit considerations, sensitivity analyzes that examine the factors that may affect these credit ratings and how they might lead to an upgrade or downgrade, and ESG factors (where they are a key factor in changing the credit rating or rating outlook) can be viewed in the full rating report mentioned above.

A description of all substantially significant sources that were used to prepare the credit rating and information about the method (s) (including significant models and sensitivity analyzes of the relevant key rating assumptions, if any) used to determine the credit rating are available in the information disclosure form (s) located here.

Information on the meaning of each rating category can be located here.

This credit rating is approved by Kroll Bond Rating Agency Europe Limited for use in the European Union. Information on the approval status of a credit rating is available on its rating page on

Further information relating to this rating measure is available in the information disclosure form (s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures can be found at

About KBRA France

Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the United States Securities and Exchange Commission as NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a credit rating agency with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a credit rating agency with the UK Financial Conduct Authority under the temporary registration regime. In addition, KBRA is appointed as the designated rating agency by the Ontario Securities Commission for issuers of asset-backed securities to file a simplified prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a credit rating provider. Kroll Bond Rating Agency UK is located at Augustine House, Austin Friars, London, EC2N 2HA, United Kingdom.

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Tatarstan to abstain from new budget loans – Fri, 17 Sep 2021 06:00:00 +0000

Tatarstan’s treasury has recovered from the shock of the coronavirus, having recouped losses of 40 billion rubles last year. The natural increase in tax revenue has been exceeded from 12 billion to 15 billion

Tatarstan’s treasury has recovered from the shock of the coronavirus, no longer requiring federal support. “There is no need for budget loans this year,” Deputy Finance Minister of the Republic of Tatarstan Alexei Shishkin said of the performance of debt obligations at a meeting of the budget commission of the State Council of the Republic of Tatarstan. growth in tax revenue, the Ministry of Finance of the Republic of Tatarstan is preparing to make a “post-coronavirus” adjustment to the 2021 budget. Already now, the increase in income amounted to 12-15 billion rubles. 2018-2019 are still a long way off, but the federal center has also been favorable by granting a 9-year loan deferral.

Compensating for financial failure in the pandemic

The Ministry of Finance of the Republic of Tatarstan is preparing to make a “post-coronavirus” adjustment to the budget of the Republic of Tatarstan due to the planned revenue exceeding of 12-15 billion rubles, the deputy minister said. Aleksey Shishkin mentioned. Reporting on the progress of budget execution for 8 months of this year, he said the revenue collection situation has stabilized and the treasury has recovered from the shock of 2020.

According to him, since the beginning of the year, the consolidated budget has collected 149.3 billion rubles, or 55% of the plan, and the Republican budget – 125.5 billion rubles, or 54.6% of the plan. With a large overspending of income tax payments, more than 53 billion rubles were collected, or 71% of the annual plan. Targeted funds of 21 billion rubles have been received from the federal budget. In general, the Treasury received 40 billion rubles more than the previous year. That’s what the Republican budget lost in 2020, when income tax collection “sank” significantly.

“The pace is good and compared to last year, when we were forced to take out loans from the federal budget, it is significantly different. There is no such need this year, “said the speaker.” The year before has been a failure and 2019 has been more stable, “said Aleksey Shishkin.

The Ministry of Finance of Tatarstan is preparing to make a “post-coronavirus” adjustment to the budget of the Republic of Tatarstan in connection with the exceeding of the planned revenue of 12 to 15 billion rubles, said Deputy Minister Aleksey Shishkin ( to the right)

For 8 months of this year, 209.3 billion rubles were collected in the consolidated budget, 176.4 billion rubles were collected in the Republican budget.

“Timely funding of all planned expenditures is underway,” said Deputy Minister of Finance of the Republic of Tatarstan.

The Ministry of Finance of the Republic of Tatarstan expects an even more significant increase in taxes by the end of the year. “Apparently, by the results of nine months, it will be possible to submit a proposal to the State Council to increase the budget,” noted the speaker.

“In 9 months, the picture will improve further and by the end of the year, revenues will increase. In all likelihood, we will bring clarification to your attention, ”Shishkin said.

Recall that the budget revenue of the Republic of Tatarstan was approved in the amount of 274.6 billion rubles, expenditure – 281.7 billion rubles, the deficit – 7 billion rubles.

Ministry of Finance of Tatarstan signed an agreement on the restructuring of the budget loan of 2.1 billion rubles. Photo:

Another 9 years postponement

The federal center was favorable by granting a 9-year loan deferral. The Ministry of Finance of the Republic of Tatarstan signed an agreement on the restructuring of a budget loan of 2.1 billion rubles, taken to cover the budget deficit at the end of 2020.

According to Aleksey Shishkin, in June Tatarstan, along with other regions, participated in the restructuring of budget loans of subjects of the Russian Federation.

“We also participated in a 2.1 billion ruble loan, which was issued in December 2020. Initially, the repayment period was for July 1 of this year,” he said. “But as a result of the restructuring, the repayment period has been extended by 9 years – until 2029.

According to its terms, the republic is obliged to pay 5% of the amount of debt in the period from 2021 to 2024, and from 2025 to 2029 – 16% of the amount of debt. As a result, the Treasury will be able to save around 2 billion rubles, Shishkin said. Instead of 2.1 billion rubles, Tatarstan will only return 120 million rubles.

“The trend is not bad, payments are more and more postponed, and therefore we are talking about the fact that the funds released will be used for investments,” commented the head of the budget committee of the Council of State of the Republic of Tatarstan, Leonid Yakounine.

“The trend is not bad, the payments are still postponed”, commented Leonid Yakunin

Members of the committee recommended to adopt the draft law of the Republic of Tatarstan “On the approval of additional agreements to the agreements on the provision of budgetary loans to the budget of the Republic of Tatarstan from the federal budget” . On September 23, it will be submitted to the autumn session of parliament.

Currently, the public debt of the Republic of Tatarstan is 85 billion rubles for budgetary loans and 11 billion rubles for public guarantees.

Luiza Ignatyeva. Photo:

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Federal loans available for those affected by the July floods Thu, 16 Sep 2021 20:12:28 +0000

SAND LAKE, NY (NEWS10) – Help is on the way for businesses and residents who were affected by flooding in Rensselaer County in July.

“This is the first time I’ve experienced it and I don’t want to experience it again,” said Ronnie Daniel, an employee of a Sand Lake company.

The Small Business Administration (SBA) grants low-interest loans after Governor Hochul asked the office for a declaration of physical disaster.

“It’s hard to be able to finance a disaster on your own. So hopefully SBA disaster loans are the recovery answer for many businesses, homeowners and tenants, ”said Kathy Cook, public affairs specialist.

Despite the name, Cook said landlords and tenants can also request money, but time is running out to send in requests. The deadline is November 8.

“The biggest problem is the reluctance to apply. Most people are reluctant to take out a disaster recovery loan, ”Cook said.

“You wouldn’t think you have to worry about tropical storms here at Averill Park, but hopefully it’s the worst we’ll ever see,” said business owner James Lilly.

Lilly said the impact to his business was small, but that he is worried about damage from future flooding which is just another unpredictable issue that restaurants in the area will have to worry about.

“Not only are we dealing with personnel issues, but COVID is destroying the supply chain for us here in restaurants. So now they have that on top of everything they have to deal with too, ”Lilly said.

There is an in-person location where applicants can meet with an SBA representative in the town of Sand Lake. They meet with applicants until September 24 at 8428 NY Route 66, Averill Park 12018.

A representative can also be reached at 800-659-2955.

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Maximum student loan values ​​increased Wed, 15 Sep 2021 02:07:27 +0000

Chinese students in financial difficulty may apply for more interest-free loans as the government has increased loan limits for undergraduate and postgraduate students, according to a new notice.

Undergraduates can apply for a maximum of 12,000 yuan ($ 1,860) in loans per person each year, according to the notice, which was recently released by the Ministries of Finance and Education, the People’s Bank of China and the China Banking and Insurance Regulatory Commission. .

The new limit is an increase of 4,000 yuan. Postgraduate students can apply for up to 16,000 yuan each year, up from 12,000 yuan, according to the notice.

The loans are expected to be used primarily to cover tuition and housing, and any extra money can be used for day-to-day expenses, the notice says, adding that the new policy has been in effect since the start of the fall semester. .

Students do not need to pay principal or interest while they are still in college and can request a five-year trial period after graduation, during which they do not pay than interest, said Deputy Finance Minister Ou Wenhan.

The maximum term of a loan is 22 years, Ou said during a press briefing organized by the Information Office of the Council of State Affairs on Tuesday.

“No student should drop out of school due to financial hardship and allow all students to change their destinies and achieve their dreams through education affects millions of homes, national development and the future of the nation Chinese, ”he said.

Student loans are part of China’s financial aid program to help students. Other aids include scholarships, grants and tuition waivers, he said.

The various forms of student financial aid totaled 124 billion yuan last year, benefiting 36.7 million students, he added.

Huang Jiayu, an official with the Ministry of Finance, said that the increases in loan limits will not put too much pressure on students to repay the loans and the ratio of non-performing loans will not increase much because the Most of the students who apply for loans don’t choose. the maximum amount.

As the personal credit system and people’s awareness of the importance of credit improves, students are more active in repaying their loans, he said.

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How Regulation Could Change Payday Loan Interest In 2021 Fri, 10 Sep 2021 23:59:00 +0000

What could change in the online payday loan policy in the United States in 2021

When you need credit, it’s easy to fall victim to bad loans. Applying for online payday loans is one of the easiest solutions you can take when you need a quick buck. It is an option available even to people with bad credit, so it seems attractive to the majority of borrowers. However, there are risks that you should understand and try to protect yourself, including predatory interest rates that could lock you into a cycle of debt.

But with the new payday loans policy, borrowers could get better protection. There are laws that protect you from loan sharks. Most of these laws prohibit discriminatory practices, cap interest rates, and prohibit certain types of loans. Credit products and rules change, so you need to familiarize yourself with the most recent regulations.

Payday Loan Rules and Regulations

If you are looking to borrow a payday loan, it is important to understand the rules and regulations relating to payday loans and how you can protect yourself. In case you are wondering what the federal payday loan rule is, those rules are left to the states, but there are few federal laws that are generally applicable in lending practices. For example, the Truth in Lending Act (TILA) requires payday lenders, like other financial institutions, to disclose to you the cost of borrowing, including the APR and finance charges.

At the state level, these loans are governed by usury laws, which limit the ceiling on interest rates. Many states allow lenders to charge triple-digit APRs, but Washington DC and 18 states have interest limits. Illinois is lining up to join them after passing a bill capping interest rates at 36%.

But even when states have restrictions in place, lenders can circumvent laws through partnerships with banks in other states where such limits are not in place. This practice is called “rent-a-bank”. Make sure the lender you choose to get funds from is properly regulated and has a reputation for being honest. Check online reviews and licenses to see if you’re about to borrow from a company whose policies meet your expectations.

Legislation targeting the APR

If you browse the internet to learn more about payday loans, you will often come across questions such as “can you be in trouble if you don’t pay off a payday loan?” These are people who might have difficulty repaying their loans because of the high interest rates. While you have a real interest in “can you go to jail for payday loans?” ”, A court will only jail you for criminal offenses, but you may face other penalties.

To make sure you don’t pay high interest, more and more states are pushing for lower interest payday loans. The legislation aims to provide protection against predatory lending, focusing on annual percentage rates (APRs). These are interest plus fees charged by the lender. This means that a $ 300 loan with a two week term could cost $ 45 in fees, which translates to an APR of 391%. The same loan with an APR of 36% will only cost $ 0.25, which is becoming less and less manageable.

Consumers have other options

Besides the expected changes in interest rates, you can explore solutions that can help you understand how to stop using payday loans. For people with good credit scores, credit unions are one solution they could use if they want to avoid the various risks involved in using payday loans. Here is how to avoid payday loans because it is easier to qualify for a credit union loan.

While asking friends and family might seem difficult, it’s a recommended option if you’re sure you can pay it off on your next paycheck. This is an interest-free option, so you don’t have to worry about paying outrageous fees. However, breaking your promise could damage your relationship.


Despite many laws protecting borrowers, predatory lending is still an ongoing risk. If you need the cash, do your homework to find the right lender. Also, explore alternative options like borrowing from friends to avoid predatory loans.

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Bank loans to households increased at a slower pace in August. Wed, 08 Sep 2021 04:37:45 +0000

A citizen walks past a row of cash machines in Seoul. (Yonhap)

Household loans from South Korean banks grew at a slower pace in August compared to the previous month mainly due to slower growth in overdrafts for equity investments, central bank data showed on Wednesday.

Bank loans outstanding to local households stood at 1,046.3 trillion won ($ 898 billion) at the end of August, up 6.2 trillion won from the previous month, according to Bank of Korea data. (BOK).

The August reading slowed from an increase of 9700 billion won in July, the data showed.

The BOK said loan growth had slowed as people paid off unsecured loans taken out to subscribe to the initial public offerings of several companies.

Unsecured and other non-mortgage loans increased by 300 billion won to 281.1 trillion won, from a monthly gain of 3.6 trillion won in July.

In August, demand for bank guaranteed loans remained strong despite tighter credit rules.

Mortgage loans from banks increased by 5.9 trillion won in one month to 764.2 trillion won. This is the fourth largest monthly gain for an August since 2004, when the BOK began compiling related data.

Since July, the financial regulator has applied a stricter calculation of loans for mortgages, called the debt service ratio, with the aim of reducing household indebtedness.

Household loans from banks and financial institutions rose 8.5 trillion won in August, from 15.3 trillion won on a month-to-month basis in July, according to separate data from the Financial Services Commission.

In August, the BOK last month raised its benchmark interest rate by a quarter of a percentage point to 0.75%, from a record low of 0.5%, marking the first rate hike in the pandemic era.

BOK Governor Lee Ju-yeol has hinted that the central bank may raise the policy rate again this year or early next year. (Yonhap)

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Emergency loans available for farmers and ranchers in Solano Sat, 04 Sep 2021 00:57:00 +0000

FAIRFIELD – Extreme drought conditions have led Solano County to be one of 50 counties in California included in a disaster secretariat designation from the United States Department of Agriculture.

This designation provides emergency agricultural loans of up to $ 500,000 to farmers and ranchers who have suffered physical or agricultural production losses as a direct result of the drought.

The deadline to apply is November 5th.

For more information visit or call the Solano County Department of Agriculture at 784-1310.

When a tornado, flood or drought strikes, or a quarantine is imposed by the Secretary of Agriculture, or other natural disasters strike, the Emergency Loan Program is available to help farmers and pastoralists eligible to rebuild and recover from the losses suffered.

The Emergency Loan Program is triggered when a natural disaster is designated by the Secretary of Agriculture or a natural disaster or emergency is declared by the President under Stafford Act.

These loans help producers who experience qualifying farm losses directly caused by the disaster in a county declared or designated as a primary disaster or quarantine area. In addition, farmers located in counties contiguous to the declared, designated or quarantined area are eligible for emergency loans.

For production losses, a 30% reduction of a primary crop in a designated or contiguous county is required.

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Community loan fund offers opportunity to shape neighborhoods through investments Wed, 01 Sep 2021 04:17:34 +0000

ALBANY – A new investment trust is designed to offer economically troubled communities in the Capital Region a chance to acquire a small share of ownership in commercial real estate in their neighborhoods.

The Capital Region Community Loan Fund announced on Monday the launch of the Capital Region Community Investment Fund, a partnership between the Loan Fund and the Community Economic Development Clinic at the Faculty of Law. Albany.

The CIT works as follows:

Residents who live in postal codes that will be designated can take a free financial education program, “From Owing to Owning”.

They buy CIT shares for $ 10 to $ 100 per month. Over time, they accumulate equity in local property and earn a minimum annual dividend of 2%; as the investment property is amortized, the dividend increases.

They can decide what kind of business their neighborhood needs and then try to attract it. This can benefit both the community and businesses as the community gets the kind of business they need and the business gets a ready market for their goods or services.

CIT has hired its first employee, Tatiana Melendez, who will serve as the coordinator of the Community Investment Trust and promote the program to residents of Albany.

The partnership is supported by the Geographic Information Systems program at the University of Albany and the Siena Project Incubator at Siena College.

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Categories: Business, News

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Self-employed borrowers Things to consider when applying for a loan Sat, 28 Aug 2021 02:25:29 +0000

It is important to be aware of the differences in qualification for a freelance borrower versus a salaried / hourly borrower. I just ran into the following scenario a few months ago, so make sure you are VERY communicative, open, and completely transparent about your business when speaking with your loan officer. And it is very important to make sure that you are PRE-APPROVED by a lender BEFORE you start looking for a property or refinancing. Always remember that your loan officer is on YOUR side and sharing as much information as possible can be very helpful in the process:
My client mentioned to me that he had been self-employed for over 20 years, but changed his filing status as a sole proprietorship (Schedule C on the Personal Income Tax Return) to S Corporation in 2021 , after having produced the 2020 declarations as the only prop. Years ago that wouldn’t be a problem. However, after checking with Fannie Mae and Freddie Mac, it was determined that they would NOT allow self-employed income from a company whose tax reporting structure has changed … It might sound a bit shocking, especially since nothing notable has changed regarding the company except the tax structure. And just to be clear, since most lenders sell to Fannie and Freddie, ALL of those lenders would experience the same result. So make sure that even if YOU think there shouldn’t be a problem, it is wise to check with the professional before going ahead!
A few other considerations independent borrowers should take into account when considering pre-approval:
If your business has been in business for 5 years or more, you CAN use ONLY 1 year of tax returns (which can be a huge benefit in most cases). Otherwise, the lender requires 2 years of taxes and will average the net income of the company IF the most recent year is higher. If the previous year is higher, THAT year (the lower year) will be used to determine income.
If you are paying yourself a W-2 salary through the company, it is wise to be very consistent with that salary. Consider the following: In 2019, the company paid you a salary of $ 60,000 and the company’s net income. was $ 50,000. In 2020, the company paid you a salary of $ 30,000 and the net income of the company. was $ 70,000. The lender will qualify you as follows: 1) First, the lender will want to know why the large salary reduction 2) The lender will ONLY use the salary of $ 30,000 3) Additionally, the lender AVERAGES the net income of $ 50,000 and $ 70 $ 000 net income of $ 60,000. So the total income will be $ 30,000 + $ 60,000 for $ 90,000. Even if in 2019 and 2020, these totals were respectively $ 110,000 and $ 100,000! This is why it is VERY WISE to consult a VERY experienced loan officer when considering a restructuring!
Curt Kravitz is a 35 year veteran loan officer with tremendous experience helping self-employed borrowers achieve their goals! Call him at 661-705-2500. Option 1.

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Construction boss penalized for COVID loan fraud Wed, 25 Aug 2021 13:15:00 +0000
Law360, London (August 25, 2021, 2:15 p.m. BST) – A bankrupt construction boss has had his insolvency restrictions extended for 10 years after accepting a fraudulent loan from the UK COVID-19 program, a government agency has said.

The Insolvency Department said on Tuesday it extended bankruptcy restrictions it placed on scaffolder Lee Hobson after discovering he had applied for and received a fraudulent loan of £ 50,000 ($ 68,500) of the government’s so-called rebound program for those who lost during the coronavirus crisis.

Hobson applied for the loan under the name of a company he no longer worked for, the insolvency department said. He used the money …

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