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sba 504 fiscal agent s discussion panel

Panel Members (in discussion order). Steve Van Order

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sba 504 fiscal agent s discussion panel

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    1. SBA 504 Fiscal Agent’s Discussion Panel NADCO 2010 Annual Meeting May 14, 2010 Savannah, GA

    2. AM10 DCFC Panel Discussion 2

    3. AM10 DCFC Panel Discussion Ketan Parekh, Bank of America Merrill Lynch Mortgage lending market conditions ABS / MBS market update New Issue securitization markets open Investor appetite 3

    4. AM10 DCFC Panel Discussion John McGrath, Credit Suisse Structured Products Trading Update Government Insured Products Private Label Products Investor Allocation Shift More uniform conformity to targets Less leverage Liquidity is king The Importance of TALF TALF for SBA TALF for Private Label CMBS 4

    5. Jeff Johnson, Bingham McCutchen LLP OLD NEWS FOR SECURITIZATIONS TALF Toxic Assets/Accounting Finding a Bottom Loss of Confidence NEW ISSUES FOR SECURITIZATIONS Regulatory Uncertainty Under Pending Regulatory Reform Several Outstanding or Newly Implemented Regulations Impacting Private Label Securitization including: Financial Accounting Statements No. 166 and No. 167 modifying accounting principals for securitizations Capital Requirements recently issued by bank regulators “Wall Street Reform and Consumer Protection Act of 2009” (H.R. 4173) “Restoring American Financial Stability Act of 2010” (S. 3217) FDIC’s Advance Notice of Proposed Rulemaking regarding securitization safe harbor. SEC’s Proposed Rule on Asset-Backed Securities (Reg AB II) AM10 DCFC Panel Discussion 5

    6. NEW ISSUES FOR SECURITIZATIONS (cont’d) Lack of Coordination and Extensive Nature of Proposed Regulations Daunting to Private Label Securitizations. On Balance Sheet Disclosure Risk Retention or “Skin in the game” Cost/Unfair Advantage to Agencies Agency and Government Full Faith and Credit Programs dominate areas in which they operate. 6 AM10 DCFC Panel Discussion

    7. Jim Hammersley, SBA 504 Debenture Rates AM10 DCFC Panel Discussion 7

    8. AM10 DCFC Panel Discussion 8

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