Weekly Issue Archive »

Issue 588 - 27th April

  • News Analysis

    • Capital Relief Trades

      • CRT issuance boost expected

        Total capital relief trade issuance this year should exceed 2017, believes alternative asset manager PAG Asia, one of the sector’s major investors. Issuance is expected to be accelerated by an end to accommodative central bank monetary poli...

      • Potential solution to IFRS 9 volatility

        Capital relief trade issuers are understood to be considering whether credit guarantees which are accounted for as a “reimbursement asset” can be used to mitigate volatility arising from the implementation of IFRS 9 expected credi...

    • CDO

      • Investors seek more Trups CDO issuance

        EJF Capital recently launched a US$535.090m Trups CDO, TFINS 2018-1, which is its sixth Trups CDO since 2015. While this underlines revived interest in the asset class, supply constraints continue to be a dampener on the market. Kroll Bond Rating A...

    • Capital Relief Trades

      • SRT features incorporated

        The EIF has granted BBVA a €90m guarantee on a mezzanine tranche of a €1.95bn portfolio which will enable the provision of up to €600m financing of new investment projects to Spanish SMEs. The transaction incorporates struc...

  • News

    • Structured Finance

      • SCI Start the Week - 23 April

        A look at the major activity in structured finance over the past seven days

        Pipeline Auto ABS dominated the pipeline once again last week. A handful of other ABS, as well as CMBS and RMBS were also announced. The auto ABS remaining in the pipeline by the end of the week were: US$1.1bn Ally Auto Receivables Trust 2018-2, U...

      • Risk-sensitive update for Solvency 2

        The European Commission has launched a consultation on its proposed new risk-sensitive treatment of securitisations under Solvency 2. The proposal – which seeks to harmonise existing legislation with the STS framework - has been welcomed fo...

    • RMBS

      • Performance sparks RPL upgrades

        Many post-crisis RMBS reperforming (RPL) loan transactions have performed better than expected, leading Fitch to upgrade 171 classes from 18 RPL deals. A dozen subordinate bonds were upgraded from double-B to investment grade, while 486 RPL ratings w...

  • Talking Point

    • NPLs

      • ECB encourages action on NPLs

        Gifford West, md, international operations and business development at DebtX, examines the ECB's cal...

        At a recent NPL industry event, a banker credited with completing some of the largest European NPL sales observed: “The Irish and UK banks were distressed sellers. Now their banks are on the path to recovery. The Italian banks refused to be...

  • Market Moves

    • Structured Finance

      • Market moves - 27 April

        Australia FIIG Securities has hired Anne-Marie Hunter-Brown to the role of markets business manager, Australia. She was previously at Deutsche Bank as IB markets coo and business manager across global credit including structured credit. Assured G...


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