18 June 2013
The re-emergence of the European CLO market has many positive aspects, but corporate trust service p...
The evolving European securitisation market has seen several changes since the crisis, with many pos...
13 June 2013
Russian RMBS, ABS issuance gathering pace
Russian RMBS issuance volume is expected to reach RUB50bn-RUB60bn this year, versus a total of RUB37...
24 May 2013
Hedge fund appetite hinges on security selection
Relative value opportunities in legacy US non-agency RMBS remain for credit hedge funds, despite sig...
23 May 2013
Mezz trending tighter post-FDIC rule-change
Last month's change in FDIC assessments (SCI 19 March) appears to be encouraging more asset managers...
20 May 2013
Signs of CDS gaining ground as Asian markets open up
The OTC derivatives market in Asia continues to be fragmented and largely weighted towards FX and in...
17 May 2013
CFTC clears up CDS concerns
A perceived regulatory preference for CDS futures over swaps has caused serious consternation in the...
17 May 2013
RMBS rep and warranties scrutinised
Year-to-date US non-agency RMBS issuance stands at US$7.7bn, with volumes forecast to reach US$20bn...
15 May 2013
European CLO market moving towards US model
Recent developments in the European CLO market suggest that it is moving closer to a US-style model....
9 May 2013
Offshore interest returns as Australian RMBS picks up
The Australian RMBS market is resurgent, with volumes already on course to surpass last year's. New...
30 April 2013
First-time CLO managers' to-do list discussed
As the US CLO sector continues to recover, more players are expected to enter the market. Prospectiv...
26 April 2013
UK RMBS spreads tighten as investors lack options
No prime UK RMBS has been issued this year and that lack of issuance is helping to drive secondary s...
19 April 2013
Single-borrower CMBS sees heavy Q1 issuance
At around US$9bn, US single-asset/single-borrower CMBS issuance in the first quarter almost equalled...
18 April 2013
Intu CMBS could have broader attraction
The recent £800m Intu (SGS) Finance 2013 series 1 transaction represents a watershed in UK...
10 April 2013
Call for improved assessment of derivatives risk
'Too big to fail' is emerging as a mainstream concern and with it come calls for the assessment of d...
4 April 2013
RMBS repurchase cases move through courts
Lawsuits resulting from RMBS representation and warranty breaches are taking longer to progress thro...
25 March 2013
European credit derivatives participants prepare for EMIR
Mandatory central clearing has already begun in the US and is now being rolled out in Europe (SCI pa...
22 March 2013
CVA charge adds pressure to move to CDS indices
Single-name CDS liquidity has been falling for the last few years as trading concentrates on an ever...
18 March 2013
Non-core asset dispositions eyed
With large US funds increasingly entering the European secondary ABS market in search of yield, Euro...
15 March 2013
Unconstrained absolute return funds in vogue
New approaches to credit are being explored, as the asset class seeks to remain appealing relative t...
12 March 2013
European CLO market back, but not as before
Cairn CLO III printed last month, reopening the European CLO market after a lengthy hiatus. Further...
4 March 2013
US credit derivatives participants prepare for mandatory clearing
Mandatory swap clearing in the US for four categories of CDX and iTraxx CDS will begin next week. Ev...
22 February 2013
Originators get to grips with ED requirements, liabilities
The ECB deadline for submitting loan-level deal data to the European DataWarehouse is the end of Mar...
20 February 2013
Private label refi initiatives gaining traction
Providing performing borrowers in non-agency RMBS pools with a viable exit from their high-interest...
20 February 2013
US CLO 1.0 versus 2.0 equity relative value explored
There are several considerations for CLO equity investors looking for relative value in CLO 1.0 and...
19 February 2013
Increased focus on rating agency performance
Competing rating agencies could gain market share due to the US Department of Justice's civil lawsui...
18 February 2013
Growing optimism in European CMBS market
It has been a tough couple of years for European CMBS, but there are signs that the environment may...
14 February 2013
Change in transparency, buying behaviour needed
The recent indictment of former Jefferies trader Jesse Litvak for misrepresenting RMBS prices has se...
12 February 2013
SNS could set 'dramatic' CDS precedent
The expropriation of subordinated bondholders at SNS Reaal has implications for the entire CDS marke...
11 February 2013
Mixed implications for pub paper
Punch Taverns last week announced proposed amendments to the capital structure of both its Punch A a...
8 February 2013
Quarterly review and outlook for European ABS
We asked Lloyds Bank, the winners of SCI's 2011 arranger award for European consumer/credit card ABS...
6 February 2013
Fourth outcome to CMBS loan resolutions emerging
The restructuring of the €4.33bn German Residential Asset Note Distributor (GRAND) transac...
31 January 2013
Structured finance recruitment prospects limited without macro change
The new year has dawned with the structured finance recruitment outlook as uncertain as it was for m...
30 January 2013
Price correction warning for non-agency RMBS
The US non-agency RMBS market rallied significantly in 2012, providing double-digit returns for many...
28 January 2013
Euro ABS, covered bond convergence contemplated
A growing number of banks are combining their European ABS and covered bonds research under the umbr...
23 January 2013
Noteholder disputes, counterparty downgrades and pricing for amendments discussed
Representatives from leading corporate trust service providers met with SCI in December to discuss t...
22 January 2013
ILS issuance and innovation to increase
Vitality Re IV - the first catastrophe bond of 2013 - priced last week as the in...
8 January 2013
BofA agreement sparks prepay concern
Bank of America has reached a US$10.3bn settlement to resolve outstanding repurchase agreements on r...
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