Top Stories
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
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Tiering forecast for water WBS
10 March 2014
Fast-tracking of business plans among certain UK water companies is expected to drive tightening across their securitised bonds. The move follows the release of Ofwat's guidance on allowed weighted-average cost of capital (WACC) for the 2015-2020 regulatory period (PR14) (SCI 10 February). Allowed returns are likely to fall to 3.85% for PR14, ver...
© Nilfanion
Read more » ABS
SCI Start the Week - 10 March
10 March 2014
A look at the major activity in structured finance over the past seven days
Pipeline
After a busy couple of weeks, the pace of deals joining the pipeline increased even further last week. Eight new ABS, one ILS, five RMBS, one CMBS and three new CLOs were announced.
The ABS were: US$731.4m AmeriCredit Automobile Receivables Trust 2014-1; US$774.18m Chrysler Capital Auto Receivables Trust 2014-A; US$180m CPS Auto Receiva...
Read more » Structured Finance
CMBS investors play waiting game
7 March 2014
It has been a quiet week for the European CMBS market as investors on either side of the Atlantic remain in 'wait and see' mode. One trader reports that clients appear to be waiting for spreads to widen, although US accounts could spark some activity. "There is a lot of interest in European CMBS from investors in the US. They are generally happie...
© Oosoom
Read more » CMBSLatest News
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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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RFC issued on Turkish methodology
Moody's is seeking comments on the methodology it is proposing for analysing the...
10 March 2014
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Mapping approach reviewed
S&P is reviewing the methodology it uses when establishing a corresponde...
10 March 2014
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CMBS upgrades to increase
Fitch expects US CMBS upgrades to increase in 2014. As the market stabilises, de...
10 March 2014
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PAYE expansion to boost FFELP prepays
President Obama's proposed expansion of the existing Pay as You Earn (PAYE) plan...
10 March 2014
More News by Sector
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ABS
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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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RFC issued on TD approach
Fitch has published a criteria exposure draft for...
4 March 2014
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CMBS
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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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Pay-offs continue to decline
The percentage of US CMBS loans paying off on thei...
7 March 2014
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Adverse selection on the rise?
Boosted by the FHFA's decision to limit GSE origin...
6 March 2014
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CDO
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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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ABS CDO auction due
An auction is slated for Kleros Preferred Funding...
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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