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ECB purchases to support periphery

28 August 2014

ECB president Mario Draghi's Jackson Hole address enlivened the QE debate again last week. Confirmation that preparations for outright ABS purchases are progressing quickly is being seen as a clear positive for senior peripheral RMBS bonds, for which the summer correction has provided attractive levels for investors to re-enter the trade. Morgan...

© Joe DeShon

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Reg AB, NRSRO rules finalised

28 August 2014

The US SEC yesterday unanimously adopted final rules under Regulation AB 2 that substantially revise the offering process, disclosure and reporting requirements for registered offerings of ABS. The rules implement several key areas of reform - while deferring action on other significant aspects of the original proposals - and ar...

Read more » Structured Finance

SFR securitisations surveyed

27 August 2014

Five firms have so far completed eight transactions for US$4.4bn in the single-family rental (SFR) securitisation market's first year. Growth in the sector is slowing, however, as the stock of distressed properties lessens and foreclosure timelines in judicial states lengthen. Deutsche Bank ABS strategists note that the eight SFR deals issued so...

© Elvert Barnes

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Auto ABS widening underlined

21 August 2014

US ABS bid-list supply rose to around US$95m yesterday, with a block of auto floorplan bonds making up about half of the volume. Auto loan tranches accounted for the majority of the remaining BWIC items and reflected the recent spread widening seen in the sector. The floorplan paper out for the bid yesterday was AMOT 2010-2 A, which was talked at...

© Elf

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