Excess Spread includes stories from staff reports and other news sources from around the market. TS does not guarantee the completeness or accuracy of the stories gleaned from other sources, though they are believed to be reliable.
* UniCredit, the Italian bank, reportedly has tapped five banks to manage a new E1 billion ($1.27 billion) five-year covered bonds: Danske Bank, ING Groep, Royal Bank of Scotland, BNP Paribas and HSBC in addition to UniCredit. (Reuters, 9/1)
* The Financial Crisis Inquiry Commission is planning to publish a large volume of internal documents that were requested from banks when it completes its final report in December, according to Phil Angelides, chairman of the FCIC. (Financial Times, 9/1)
* Demand for non-agency mortgage-backed securities is heating up as bond managers vie for them as a high-yielding alternative for investing cash. (Wall Street Journal, 9/1)
* The Office of the ....