Top Stories
Refinancing promises big savings
12 March 2014
Up to US$30bn of US CLO 2.0 deals could be candidates for refinancing this year, with refinancing or repricing potentially saving equity holders 20bp-50bp in liability costs. However, the pace of such activity will depend on factors such as upfront cost and secondary CLO paper providing competition for buyers. Individual tranche refinancing or re...
© 4028mdk09
Read more » CLOs
US RMBS gathering steam
12 March 2014
US non-agency RMBS supply picked up yesterday as BWIC volume reached around US$664m. That level is set to rise with Freddie Mac preparing to sell US$1.15bn of legacy paper. The Freddie bid-list, which is due tomorrow, is expected to be the biggest bulk secondary sale of non-agency RMBS bonds since the final ING liquidation a month ago (SCI 31 Jan...
Read more » RMBS
Housing reform to progress?
12 March 2014
US Senate Banking Committee chairman Tim Johnson and ranking member Mike Crapo have reached an agreement on a housing finance reform proposal. While most of the detail isn't new, the requirement for 10% private capital coverage upfront has caused some surprise. SFIG notes that the proposal includes: winding down and ultimately eliminating Fannie...
© Elvert Barnes
Read more » RMBS
Cards support US ABS secondary supply
11 March 2014
US ABS bid-list supply during yesterday's session was mainly accounted for by credit card names. BWIC volumes reached almost US$150m with auto, aircraft and student loans paper also circulating. SCI's PriceABS data captured a varied mix of credit card tranches out for the bid in yesterday's session. Among them was the BOIT 2004-C2 C2 tranche, whi...
© Elf
Read more » ABSLatest News
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FCA names investment banking head
The UK Financial Conduct Authority (FCA) has appointed Julia Hoggett as head of...
12 March 2014
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ABS CDO auctions due
A special majority of Fourth Street Funding class A1 noteholders have directed t...
12 March 2014
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Trader convicted of TARP offences
A federal jury in New Haven, Connecticut has convicted former Jefferies md Jesse...
12 March 2014
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Google buys into online marketplace
Google Capital has invested US$50m in Auction.com. A Google representative will...
12 March 2014
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US ABS ratings stability underlined
S&P reports that the creditworthiness of US ABS generally remained stabl...
11 March 2014
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Trups CDO on the block
An auction is to be held for InCapS Funding II on 14 March. Keefe, Bruyette &...
11 March 2014
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ESAIL 2007-6NCX restructured
First stage restructuring proposals have been affected for the Eurosail-UK 2007-...
11 March 2014
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Further CWCapital outcomes reported
A further three CMBS with significant exposure to the CWCapital bulk sales have...
11 March 2014
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IOSCO examines prudential standards
IOSCO has published a consultation report on prudential standards in the securit...
11 March 2014
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Credit card maturities to decline
US credit card ABS maturities will decline sharply in the next few years, says F...
11 March 2014
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Tiering forecast for water WBS
Fast-tracking of business plans among certain UK water companies is expected to...
10 March 2014
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RFC issued on Turkish methodology
Moody's is seeking comments on the methodology it is proposing for analysing the...
10 March 2014
More News by Sector
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ABS
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PAYE expansion to boost FFELP prepays
President Obama's proposed expansion of the existi...
10 March 2014
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Lower losses seen on CDQ, DP loans
Italian Cessione del Quinto (CDQ) and Delegazione...
6 March 2014
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ARS pricing service offered
SIX Financial Information has teamed up with Pluri...
5 March 2014
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CMBS
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CMBS upgrades to increase
Fitch expects US CMBS upgrades to increase in 2014...
10 March 2014
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CMBS investors play waiting game
It has been a quiet week for the European CMBS mar...
7 March 2014
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Annual loss severity hits highs
The annual loss severity for US CMBS loans was 46....
7 March 2014
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CDO
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Mapping approach reviewed
S&P is reviewing the methodology it uses w...
10 March 2014
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ABS CDO approach updated
Moody's has updated its approach to rating ABS CDO...
7 March 2014
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SME CDO criteria tweaked
Fitch has updated its global rating criteria for S...
6 March 2014
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CDS
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Ukraine concerns contained
The five-year credit default swap spread for Russi...
7 March 2014
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Air France CDS tighter on cost-cutting
CDS market sentiment towards Air France has notice...
5 March 2014
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Diamond CDS hit by earnings concerns
Credit default swaps on Diamond Offshore Drilling...
28 February 2014
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CLO
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Euro CLO equity performance positive
European CLO equity cashflows have lagged their US...
6 March 2014
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Wake-up call
Euro CLO idiosyncratic risks emerging
Vivarte's decision to suspend payments on its debt...
5 March 2014
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Euro CLO 2.0s becoming effective
Fitch's latest CLO Tracker report includes five Eu...
4 March 2014
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RMBS
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US RMBS BWICs back in bulk
US non agency RMBS bid-list volumes picked up cons...
6 March 2014
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Declining advance rates eyed
Moody's expects delinquent loan advance rates to c...
6 March 2014
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Sentiment drives ABX prices higher
Markit ABX triple-A index prices have climbed mode...
6 March 2014
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Risk Management
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Risk-based capital shortfalls shrinking
The Basel Committee has published the results of i...
7 March 2014
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Leverage ratio examined
The EBA has published a report on the leverage rat...
6 March 2014
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Swap clearing business chief appointed
LCH.Clearnet Group has named Daniel Maguire as glo...
6 March 2014
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Regulation
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Risk-based capital shortfalls shrinking
The Basel Committee has published the results of i...
7 March 2014
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Leverage ratio examined
The EBA has published a report on the leverage rat...
6 March 2014
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Wake-up call
Euro CLO idiosyncratic risks emerging
Vivarte's decision to suspend payments on its debt...
5 March 2014
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