Sentence examples for mbss from inspiring English sources

Brian Moynihan, Bank of America's boss, had vowed to engage in "hand to hand combat" with investors suing to recover losses on mortgage-backed securities (MBSs) peddled before the housing market collapsed.

The Fed had already announced plans to buy up to $100 billion of debt directly issued by Fannie Mae and Freddie Mac, the now-nationalised mortgage agencies, and $500 billion of their mortgage-backed securities (MBSs).

Those concerns disappeared when the Treasury in effect nationalised the companies in September.The Treasury and the agencies themselves had been buying MBSs but in spite of that the yields continued to rise, in part because of the government's mixed signals on whether it stood behind the companies.

But Mr Moynihan deserves praise for biting the bullet on MBSs.

Take the market for mortgage-backed securities (MBSs), or bundles of mortgages, which in America is now bigger than the Treasury market.

Unlike most bonds, MBSs have no fixed maturity.

These days large numbers of housing loans are moved off banks' books, bundled together as so-called mortgage-backed securities (MBSs) and sold to investors.

And that's to say nothing of further loan losses as house prices fall.Mr Moynihan deserves praise for biting the bullet on MBSs.

This is much less true of mortgages with variable interest rates Golden West, for example, is almost wholly an adjustable-rate lender than of MBSs.

At the end of June, $5.4 trillion-worth of these securities were outstanding, dwarfing the $3.8 trillion Treasury market (see chart), even though issues of MBSs have slowed recently.

That will hamper the desirable transferring of risk but, given recent history, it is probably prudent to put a little sand in the gears.Some of the Kafkaesque structures spawned by securitisation such as collateralised debt obligations (CDOs) that invested in other CDOs that themselves invested in MBSs have been made prohibitively difficult to recreate.