News Analysis

Structured Finance

• IFRS 9 first-time impact gauged

  Banks have begun releasing their first quarterly results for this year, with the reports suggesting a limited impact from the first-time adoption of IFRS 9. However, the lack of a requirement to restate comparative figures means that the potential vo...

NPLs

• Split-mortgage securitisation mulled

  Permanent TSB has pulled €900m of split mortgages from its Project Glas portfolio sale of approximately €4bn of distressed Irish mortgages. The need to maintain borrower relationships and regulatory challenges over the treatment of...

• NPL servicing still needs strengthening

  Inadequate servicing capability for non-performing loans - largely in Italy and Greece - is hampering securitisation activity and stemming investor inflows, according to panellists at SCI’s recent NPL securitisation event. Nevertheless, imp...

News

Structured Finance

• SCI Start the Week - 14 May

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

  Pipeline ABS accounted for the majority of the deals remaining in the pipeline at the end of last week. A handful of CMBS and RMBS were also announced. The auto ABS in the pipeline comprise: US$1.13bn AmeriCredit Automobile Receivables Trust 2018...

Talking Point

NPLs

• Securitisation 'right tool' for NPL disposals

  Participants at a recent SCI seminar on non-performing loan securitisation were optimistic about the role of ABS in facilitating disposals of troubled loans across Europe, with or without government guarantees. Concerns persist, however, that work st...

Market moves

Structured Finance

• Market moves - 18 May

  Europe CIFC has hired Joshua Hughes as head of European marketing, based out of London and reporting to co-ceo, Oliver Wriedt. Hughes was previously head of global distribution at Muzinich & Co. He will lead the firm’s fundraising...