Deutsche tops Morgan Stanley as Japan's biggest CMBS seller

10/3/2008 | Bloomberg

Morgan Stanley is no longer the biggest seller of commercial mortgage-backed securities in Japan. The firm scaled back operations, allowing Deutsche Bank AG to take the top spot. "Deutsche as a bank can operate more flexibly than investment banks because as a bank they may be allowed to keep loans on their balance sheet when the CMBS market is not doing well," said Takenari Yamamoto, managing director of structured finance at Standard & Poor's.

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