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Waiting game leaves recruitment on hold
Recruitment in the structured finance space remains somewhat stagnant. While market players await regulatory clarity in...
24 December 2014
Transparency at the forefront of CRA debate
Panellists at SCI's recent London conference discussed the implications of credit rating agency (CRA) regulation in Euro...
23 December 2014
Ocwen Financial has reached a settlement with the NYDFS to address its violations of a consent order issued by the regul...
23 December 2014
First ABSPP purchases underwhelm market
Purchase volumes in the first few weeks of the ECB's ABSPP have disappointed market participants. The utility of the pur...
19 December 2014
Monday's quiet US non-agency RMBS session threatened to set the tone for a slow week, but bid-list activity picked up sh...
17 December 2014
Regulators fuel Chinese issuance boom
Chinese securitisation issuance has rocketed this year as regulatory restrictions have been relaxed. A diversification o...
16 December 2014
A look at the major activity in structured finance over the past seven days
Pipeline The pace of deals joining the pipeline noticeably slowed last week. At the final count there was one new ABS a...
15 December 2014
Risk retention puts manager consolidation in the spotlight
CLO manager consolidation is expected to re-emerge as risk retention requirements bed down in the US. However, the proce...
12 December 2014
US ABS bid-list activity yesterday rebounded from the prior session to reach total volume of around US$266m. By far the...
11 December 2014
US non-agency RMBS bid-list supply picked up strongly yesterday to more than US$800m. Subprime and Alt-A collateral led...
10 December 2014
The GSEs have released guidelines for offering 95%-97% LTV mortgages. The product is expected to pull loans away from th...
9 December 2014
After quiet sessions in the middle (SCI 4 December) and end of last week, US CMBS bid-list volume was over US$200m yeste...
9 December 2014
Shelf-eligibility and data disclosure discussed
Representatives from Lewtan and Dentons recently discussed the considerations for implementing Regulation AB 2 in a live...
9 December 2014 Free
A new report from the BIS states that a simple and transparent asset pool does not translate into mezzanine tranches tha...
8 December 2014
A look at the major activity in structured finance over the past seven days
Pipeline There was a steady flow of deals into the pipeline last week as five ABS, five RMBS and five CMBS were announc...
8 December 2014
US CMBS bid-list volume fell to around US$44m yesterday, with generic spreads remaining mostly unchanged during the sess...
4 December 2014
Low-risk option attracting investors
The overlap between stable value (SV) funds and securitisation is increasing, given that high grade ABS offers the benef...
4 December 2014
The US non-agency RMBS secondary market returned to life on Tuesday after a stretch of inactivity which had begun before...
3 December 2014
New challenges driving cat bonds forward
Disappointing financial markets and the search for yield mean that catastrophe bonds are an increasingly appealing sourc...
3 December 2014
US ABS BWIC volume was around US$120m in the first session of the week, with auto paper well represented. There was also...
2 December 2014
A look at the major activity in structured finance over the past seven days
Pipeline The number of deals joining the pipeline last week was down on the week before as Thanksgiving arrived. The on...
1 December 2014
Peripheral RMBS prospects examined
Representatives from Bloomberg, Prytania Group and DBRS discussed peripheral European RMBS in a live webinar hosted by S...
27 November 2014 Free
The US secondary markets have not shut down just yet, with SCI's PriceABS data picking up price talk and cover prices fo...
26 November 2014
Fed's presence to remain after MBS purchase halt
With the end of QE3, the US Fed has ceded the spotlight in agency MBS purchases, while staying committed to the sector t...
26 November 2014
Mount Street managing partner and ceo Ravi Joseph and director Jonathan Banks answer SCI's questions
Q: How and when did Mount Street become involved in the securitisation market? RJ: Mount Street is an amalgam of a co...
24 November 2014
A look at the major activity in structured finance over the past seven days
Pipeline A lot of deals joined the pipeline in the last full week before Thanksgiving. Unlike previous weeks it was not...
24 November 2014
Fannie Mae and Freddie Mac have released an official update to the representations and warranties framework outlined las...
21 November 2014
Mike Manning, co-founder and ceo of DealVector, argues that alignment of interest is the key to RMBS...
We may be working on the wrong issues. And when you're in a hole, stop digging. Those were two thoughts I took from SF...
21 November 2014
US non-agency RMBS BWIC supply remained elevated on Wednesday at more than US$1bn. Yesterday's session came hot on the h...
20 November 2014
Slow growth expected for non-QM, non-agency RMBS
US non-agency RMBS issuance remains subdued, despite something of a pick-up in the second half of the year. Greater regu...
20 November 2014
Stress-test boost for non-core asset disposals
European CRE loan sales are set to rise steadily in light of the ECB's recent asset quality review (AQR) and stress test...
19 November 2014
Enterprise Inns' latest results show income growth across the portfolio. With portfolio performance stabilised, the like...
18 November 2014
European CMBS secondary supply is being boosted by sizeable bid-lists, with paper trading today and set to trade tomorro...
18 November 2014
A look at the major activity in structured finance over the past seven days
Pipeline A lot of deals joined the pipeline last week, with a strong line-up of ABS leading the way. There were 11 ABS,...
17 November 2014
The European CLO market has remained quiet over the last week. A sizable list due to trade on Wednesday could liven it u...
17 November 2014
US non-agency RMBS secondary supply climbed yesterday as BWIC volume approached US$800m. Several lists were presented al...
14 November 2014
US CMBS spreads widened out a little yesterday as BWIC supply picked up from the quiet start to the week. SCI's PriceABS...
13 November 2014
In light of Punch's latest results, Punch A bonds continue to offer better value than Punch B across the capital structu...
12 November 2014
RPL securitisations gaining traction?
Increasing supply, combined with the high yields on offer is pushing US re-performing loans (RPLs) closer to becoming a...
11 November 2014
Investor base limiting European CMBS growth
European CMBS investors have this year embraced a wider variety of property types and jurisdictions, as well as greater...
11 November 2014
Morrison & Foerster of counsel Melissa Beck, senior of counsel Kenneth Kohler and senior of coun...
In a flurry of regulatory actions on 21 and 22 October, the FDIC, the OCC, the Federal Reserve Board, the SEC, the FHFA...
11 November 2014
A look at the major activity in structured finance over the past seven days
Pipeline Another fifteen deals joined the pipeline last week. They consisted of four ABS, one ILS, six RMBS, two CMBS a...
10 November 2014
The European MBS markets have been quiet for the last week or two. Sterling prices in particular are refusing to tighten...
7 November 2014
SFR securitisation to remain a viable asset class?
The single-family rental securitisation market has seen six different sponsors issue 11 transactions for a total of US$6...
6 November 2014
RMBS alternative lays foundation for more
Jerrold Holdings has closed a restructuring of the £557.7m Charles Street Conduit Asset Backed Securitisation 1...
5 November 2014
A US$941m US non-agency RMBS bid-list traded yesterday, bringing total BWIC volume to around US$1.5bn. Execution appears...
5 November 2014
It was a quiet start to the week for most markets, although US CMBS BWIC volume once more pushed US$150m. A US$120m list...
4 November 2014
A look at the major activity in structured finance over the past seven days
Pipeline The number of deals joining the pipeline increased markedly last week. Remaining at the end of Friday were sev...
3 November 2014
US ABS secondary volume was down from the prior session, but still managed to reach around US$160m yesterday. Student lo...
31 October 2014
CMBS was the only sector to see much secondary supply yesterday stateside, with many participants focused on the US$4.6b...
28 October 2014
A look at the major activity in structured finance over the past seven days
PipelineA mix of transactions remained in the pipeline at the end of last week. The US$250m Navistar Financial Dealer No...
27 October 2014
A disconnect between bids and offers in the European CLO market has impacted secondary trading. A strong lineup of bid-l...
23 October 2014
The New York Department of Financial Services (NY DFS) has alleged that Ocwen backdated thousands of letters to borrower...
23 October 2014
US non-agency RMBS bid-list volume climbed yesterday to around US$430m, largely driven by a spike in subprime supply. SC...
22 October 2014
Sovereign caps impact investor options
Recent rating agency criteria changes have re-focused attention on the European peripheral ABS markets. While all invest...
22 October 2014
US ABS secondary market supply yesterday was fairly evenly split between auto, credit card and student loan ABS. SCI's P...
21 October 2014
In prepared remarks delivered at the annual MBA convention, FHFA director Mel Watt last week announced several key chang...
21 October 2014
ARC Ratings continues to build out its methodologies and criteria for structured finance (SCI 23 September), following t...
21 October 2014
A look at the major activity in structured finance over the past seven days
Pipeline Last week a variety of new deals joined the pipeline. There were six ABS added, along with two RMBS, four CMBS...
20 October 2014
The market was taken by surprise when about 40 ABS bonds became ineligible under the ECB's collateral framework on 7 Oct...
17 October 2014
New CDS definitions redress imbalance
Implementation of the ISDA 2014 Credit Derivatives Definitions appears to have gone smoothly last week, despite the last...
17 October 2014
US non-agency RMBS liquidity took a dip yesterday as a busy day of bid-lists yielded a high number of DNTs. Over US$1bn...
16 October 2014
Fitch, Moody's and S&P last week published their new ratings for the restructured Punch A and Punch B whole busi...
14 October 2014
A look at the major activity in structured finance over the past seven days
Pipeline Several deals joined the pipeline last week. These included seven ABS, two RMBS, three CMBS and six CLOs. Th...
13 October 2014
As well as the release of the delegated acts under the Solvency 2 directive, the European Commission (EC) has u...
13 October 2014
US CMBS BWIC volume climbed a little yesterday to just over US$320m. CMBS 2.0 and 3.0 double-As widened slightly, with o...
9 October 2014
US non-agency RMBS BWIC volume approached US$600m yesterday, with another large bid-list of around US$1bn due to trade t...
8 October 2014
Loan-only CLOs defy convention
This summer's €525m Harvest CLO IX and €415m Avoca CLO XII were each backed by loan-only portfolios....
8 October 2014
Heightened activity in the European secondary RMBS market continued as the week began. Italian and Spanish names continu...
7 October 2014
A look at the major activity in structured finance over the past seven days
PipelineA large number of deals joined the pipeline last week. At the last count there were seven ABS, four RMBS, seven...
6 October 2014
The market has reacted cautiously to yesterday's ABSPP update from the ECB. Peripheral RMBS has been most active, althou...
3 October 2014
Lack of ABSPP detail disappoints
The lack of detail in yesterday's ECB announcement is being seen as a reflection of the complexity of its ABS purchase p...
3 October 2014
A look at the major activity in structured finance over the past seven days
PipelineThe pace of deals joining the pipeline slowed last week. Two new ABS were announced, as well as one RMBS, one CM...
29 September 2014
Yesterday proved to be a busy session for secondary European RMBS. SCI's PriceABS data captured a long list of bonds out...
26 September 2014
IPV best practices surveyed
The majority of independent price verification (IPV) and valuation professionals polled by SCI, in partnership with Fitc...
25 September 2014
The US ABS market was fired up again yesterday as participants returned from IMN's ABS East conference. BWIC volume reac...
25 September 2014
Out of 220 loans securitised in European CMBS with an initial LTV below 62%, only one loan experienced a loss, according...
24 September 2014
Barclays Capital analysts have identified seven CMBS loans with exposure to the recent closure of various Sears and Kmar...
23 September 2014
A look at the major activity in structured finance over the past seven days
Pipeline Two ABS, two RMBS, two CMBS and six CLOs entered the pipeline last week. The ABS comprised FCT Ginkgo Compartm...
22 September 2014
Both the primary and secondary European markets have been busy recently as the market continues to benefit from the ECB...
19 September 2014
It was a busy session in US ABS yesterday, with SCI's PriceABS data capturing a range of aircraft, auto, credit card and...
18 September 2014
DSB Bank's Chapel and Monastery securitisations remain attractive following an update on their performance, say Morgan S...
18 September 2014
Call for scrutiny under risk retention originator route
European CLO and RMBS issuers are increasingly adopting the originator route under the Capital Requirements Regulation t...
18 September 2014
Aligning loan-level disclosure requirements
The US SEC last month approved the final Regulation AB 2 rules, significantly changing asset-level data disclosure requi...
18 September 2014
US non-agency RMBS secondary activity was up sharply yesterday, as BWIC volume comfortably exceeded US$1bn. Much of the...
17 September 2014
Unified GSE security could provide PLS boost
FHFA director Mel Watt last week reaffirmed the agency's intention to create a single TBA market for GSE securities. Alt...
17 September 2014
Rajat Rohailla, executive director at Molton Street Capital, answers SCI's questions
Q: How and when did Molton Street become involved in the structured finance markets? A: We are a young firm, but all of...
17 September 2014
US consumer ABS spreads are wider and more volatile in the post-crisis period. However, a recent Wells Fargo study of th...
16 September 2014
The 'ECB effect' is pulling European CLO spreads tighter, with BWICs last week trading very well. Further bid-lists are...
16 September 2014
A look at the major activity in structured finance over the past seven days
Pipeline A raft of US CMBS deals joined the pipeline last week, accounting for over half of all newly-announced transac...
15 September 2014
Gross agency MBS issuance increased from US$85bn to US$89bn and net issuance increased from US$7bn to US$14bn from July...
12 September 2014
The ECB will likely allocate national targets for ABS purchases based on its capital key percentages, Citi European secu...
11 September 2014
US ABS bid-list volume was up from the prior session to reach around US$270m yesterday. Much of the supply came from stu...
10 September 2014
Intermediate direction of US CMBS spreads unclear
US CMBS credit metrics continue to slip, but are seemingly yet to give investors pause. Nevertheless, while the positive...
10 September 2014
As the use of hope note CMBS modification wanes in the US, more information is becoming available on their performance i...
9 September 2014
A look at the major activity in structured finance over the past seven days
PipelineThe first week of September saw the pace of deals joining the pipeline quicken. The week's additions consisted o...
8 September 2014
The European CMBS market remains fairly quiet, despite the better than expected announcement from the ECB yesterday (SCI...
5 September 2014
Five UK non-conforming RMBS have cured their pro-rata triggers since May, taking the total number of deals in the segmen...
4 September 2014
US CMBS secondary market activity picked up yesterday, with BWIC volume more than doubling to over US$80m. CMBS 2.0 and...
4 September 2014
The US Fed, the FDIC and the OCC have released a notice of final rulemaking that implements minimum liquidity coverage r...
4 September 2014
The US secondary markets were back up and running yesterday after the Labor Day holiday. Most activity was concentrated...
3 September 2014
IEF Capital, the sponsor of the €1.05bn Dutch CMBS transaction Leo-Mesdag, has completed the first refinancing...
1 September 2014
The US SEC has approved amendments to TRACE dissemination rules, stipulating that CUSIP-level execution prices and origi...
1 September 2014
A look at the major activity in structured finance over the past seven days
PipelineAugust ended with a quiet week, as just three new deals joined the pipeline. These consisted of two ABS and one...
1 September 2014
The Countrywide shelf could face the brunt of increased principal modification rates, if Bank of America pursues a strat...
29 August 2014
At around US$72m, US CMBS BWIC volume remained light yesterday ahead of the Labor Day holiday, although up from the prev...
29 August 2014
ECB president Mario Draghi's Jackson Hole address enlivened the QE debate again last week. Confirmation that preparation...
28 August 2014
The US SEC yesterday unanimously adopted final rules under Regulation AB 2 that substantially revise the offering proces...
28 August 2014
Five firms have so far completed eight transactions for US$4.4bn in the single-family rental (SFR) securitisation market...
27 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...
21 August 2014
US RMBS clean-up call activity picked up in 2Q14, with 10 deals called during the period versus six in the previous quar...
20 August 2014
The US fixed income indices commonly used by money managers exclude Fed Treasury holdings when calculating their composi...
20 August 2014
Call for increased derivatives disclosure in securitisations
A first step towards creating a safe and transparent ABS market in Europe, in line with recent ECB rhetoric, could be gr...
20 August 2014
Ocwen and HLSS last week announced that they will restate their financial statements for 2013 and 1Q14 and delay filing...
19 August 2014
A look at the major activity in structured finance over the past seven days
PipelineOnly a handful of deals joined the pipeline last week amid the summer lull. Of these transactions, two were CMBS...
18 August 2014
Canadian government reducing RMBS role
Private RMBS has traditionally only constituted a small part of Canadian residential mortgage funding. However, with the...
14 August 2014
Weakness in the broader financial markets brought volatility to the European ABS sector last week. An unseasonably high...
13 August 2014
With FN 4.5s prices nearing their all-time highs, the US agency RMBS sector appears to be at a tipping point from a rate...
12 August 2014
It was a fairly quiet session across the board yesterday, although US non-agency RMBS bid-list supply did reach around U...
12 August 2014
Around 85% of rating changes for European CLOs so far this year have been upgrades. The positive rating trend has been i...
12 August 2014
A look at the major activity in structured finance over the past seven days
PipelineThe pace of deals joining the pipeline slowed down last week. There were four ABS, two RMBS and four CMBS added....
11 August 2014
US CMBS bid-list supply remained strong yesterday at around US$478m, with generic spreads wider across most vintages and...
8 August 2014
Litigation activity turning towards trustees
The focus of US financial crisis-related litigation activity is turning towards the trustee community. The fundamental i...
8 August 2014
Demand for round-lots driving re-REMIC up-tick
US re-REMIC volumes picked up considerably over the first half of the year and activity in the sector looks set to conti...
7 August 2014
It was a busy session for the European RMBS market yesterday as SCI's PriceABS data captured more than 60 unique Europea...
6 August 2014
European securitisation analysts at Citi suggest that only securitisations that are consolidated on bank balance sheets...
5 August 2014
The use of smaller rating agencies has become more common for US CMBS 3.0 deals, particularly as Moody's, S&P an...
5 August 2014
Reach for yield outweighs macroeconomic concerns
The US credit markets enjoyed a positive first half, with some sectors seeing returns in the high single-digits due to c...
5 August 2014
A look at the major activity in structured finance over the past seven days
Pipeline It was another busy week for deals joining the pipeline. Seven ABS, four RMBS, six CMBS and three CLOs remaine...
4 August 2014
With the ABI special committee now supporting the latest Punch restructuring proposal (SCI 22 July), it now appears like...
1 August 2014
After a slow start to the week, yesterday's session brought an increase in US ABS secondary market activity. BWIC volume...
31 July 2014
The US CLO secondary market was busy yesterday, with SCI's PriceABS data capturing 62 unique US CLO tranches on bid-list...
30 July 2014
Independent experts consulted by RMBS trustees on the adequacy of JPMorgan's proposed settlement have made their recomme...
29 July 2014
Stefan Bund, group md and head of asset-based finance at Scope Ratings, answers SCI's questions
Q: How and when did Scope Ratings become involved in the securitisation market? A: Scope Ratings was established in 2...
29 July 2014
Senior Lusitano RMBS bonds have cheapened by 0.5-2.5 points since Espirito Santo International failed to pay on its comm...
28 July 2014
A look at the major activity in structured finance over the past seven days
Pipeline A mixed bag of transactions joined the pipeline last week. Four ABS, three RMBS, one CMBS and three CLOs remai...
28 July 2014
GSE deals may underpay for risks involved
Fannie Mae printed its US$2.05bn CAS Series 2014-C03 deal earlier this month, with structural innovations that may incre...
28 July 2014
The UK non-conforming RMBS sector has benefitted greatly from the low interest rate environment. The timing, frequency a...
25 July 2014
The recapitalisation of European CRE lenders through non-performing or non-core CRE loan sales should provide a supply o...
24 July 2014
US CMBS BWIC volume totalled around US$650m yesterday as a mixed bag of securities from various vintages were put out fo...
23 July 2014
Total return swaps (TRS) on investment grade and high yield credit indices in Europe and the US have seen moderate succe...
23 July 2014
The Harbourmaster CLO 3 class B tranche last week defaulted at the deal's legal final maturity. The transaction differed...
23 July 2014
Bonds with lower factors are increasingly common on US non-agency RMBS bid-lists. As it becomes more difficult for inves...
22 July 2014
A look at the major activity in structured finance over the past seven days
PipelineMany of the deals that joined the pipeline last week were quick to price. However, three ABS, an RMBS, five CMBS...
21 July 2014
Pricing on the TMAN 7 class D bonds does not reflect the risks involved, say Deutsche Bank CMBS analysts. An update call...
18 July 2014
US non-agency RMBS secondary market activity remained moderate yesterday as supply was driven mainly by subprime floater...
18 July 2014
There was heavy BWIC volume in the US CMBS market yesterday. Bid-lists totalling over US$500m were circulating, with SCI...
17 July 2014
2007-vintage Eurosail RMBS continue to attract headlines due to their unhedged FX exposure and associated restructuring...
16 July 2014
The 2014 ISDA Credit Derivatives Definitions contain a number of changes that are likely to impact the economic value of...
16 July 2014
US ABS BWIC volume reached around US$200m yesterday, with student loan and credit card bonds driving issuance higher tha...
16 July 2014
Rapid pace of change as CLO market grows
US CLO issuance has reached record pace this year, as innovations driven by both regulatory demands and investor behavio...
15 July 2014
A look at the major activity in structured finance over the past seven days
Pipeline Several deals were added to the pipeline last week, including a large number of CLOs. As well as four ABS, thr...
14 July 2014
The seasonal summer slowdown has not yet set in for the European ABS market. While the secondary market might b...
11 July 2014
US ABS bid-list volume was up yesterday to more than US$230m, with SCI's PriceABS data revealing several student loan tr...
10 July 2014
A couple of sizable US non-agency RMBS bid-lists helped bring secondary market activity up sharply yesterday after Monda...
9 July 2014
Over 26,000 loans collateralising US conduit CMBS deals issued since 2005 - representing US$363bn or about 80%...
7 July 2014
A look at the major activity in structured finance over the past seven days
PipelineSeveral deals joined the pipeline last week as the market prepared for the US Independence Day holiday. The new...
7 July 2014
The ECB's TLTRO operation entitles banks to initially borrow up to €400bn for four years at a fixed rate of 25...
4 July 2014
Tightening loan margins and note spreads have increased the likelihood of European CMBS 2.0 prepayments. However, prepay...
4 July 2014
It was another fairly busy session for the US CLO secondary market yesterday. SCI's PriceABS data captured 26 unique US...
2 July 2014
US ABS bid-list activity was very low to start the holiday-shortened week. SCI's PriceABS data picked up student loan pa...
1 July 2014
A look at the major activity in structured finance over the past seven days
Pipeline After a fairly even distribution of new deals added to the pipeline two weeks ago, last week was dominated by...
30 June 2014
There have been 34 deals issued from 19 managers since the European CLO market returned last year. Manager diversity has...
27 June 2014
US non-agency RMBS BWIC volume hit US$566m yesterday, slightly lower than the total for the prior session. Supply was ma...
26 June 2014
US ABS secondary market activity remained moderate in yesterday's session, with BWIC volume of a little over US$200m. SC...
25 June 2014
US CMBS secondary market activity was light yesterday, with BWIC volume a little over US$100m. Generic spreads were most...
24 June 2014
Peripheral RMBS relative value explored
The recently announced €1bn-plus Berica ABS 3 RMBS transaction has piqued investor interest in peripheral pape...
23 June 2014
A look at the major activity in structured finance over the past seven days
Pipeline Additions to the pipeline last week were fairly even distributed between ABS, RMBS, CMBS and CLOs. There were...
23 June 2014
SCI's PriceABS data captured 765 CLO and 93 CDO line items this week, with 156 and 44 respectively recorded yesterday, s...
20 June 2014
Recruitment quiet as markets squeezed
The tone in structured finance recruitment on each side of the Atlantic is cautious at best. While hiring continues in b...
20 June 2014
Aussie regulator not rushing master trusts
Australian securitisation activity is on the rise but is not being helped by the attitude of the market's regulator. APR...
19 June 2014
US non-agency RMBS volume picked up yesterday to reach around US$788m, ahead of a US$647m bid-list scheduled to trade to...
18 June 2014
The European credit index tranche market is transitioning from being dominated by legacy positions towards a regime base...
18 June 2014
Investors in the UK RMBS market appear to have largely ignored the potential risk of Scotland voting for independence fr...
18 June 2014
European CLO market constraints examined
European CLO issuance volume is expected to reach €10bn-€15bn across 30 transactions this year. Risk...
18 June 2014
The 2014 ISDA CDS definitions have been published and will be implemented in September (SCI passim). One of the main cha...
17 June 2014
European ABS relative value discussed
Spread compression has made identifying relative value in the European ABS market more difficult. However, panellists pa...
17 June 2014
US CMBS secondary market spreads did not move too much yesterday, but BWIC volume was up strongly to reach US$517m. Supp...
17 June 2014
A look at the major activity in structured finance over the past seven days
Pipeline Conferences in Europe and the US limited pipeline activity last week, although seven CLOs were announced. Two...
16 June 2014
The EBA is working with other regulators to find the best way to create a definition and appropriate prudential treatmen...
13 June 2014
Underwriting standards continue to trouble ABS investors, according to a JPMorgan client survey. Survey respondents incl...
12 June 2014
A large US$1bn US non-agency RMBS bid-list was announced yesterday and due to trade today. The list contains 24 line ite...
11 June 2014
New front emerges in Trups CDO enforcement
American Bancorp was last month forced into involuntary bankruptcy, marking the first case where Trups CDO holders worke...
11 June 2014
Early CLO refinancings provide investor opportunities
New US CLO structures with senior tranches offered at both par and at a discount are creating opportunities for investor...
11 June 2014
The ICMSA discusses how the trustee community has worked to address concerns around bondholder meeti...
A lively discussion between investors and trustees at the 2010 Global ABS conference was a catalyst for the ICMSA1 to re...
10 June 2014
The portfolio underlying the FOX 1 CMBS has been purchased by Kennedy Wilson Europe Real Estate for £296m, whic...
10 June 2014
A look at the major activity in structured finance over the past seven days
PipelineMany more deals joined the pipeline last week than had been added in the week before. They consisted of four ABS...
9 June 2014
The US CMBS market rallied yesterday as spreads tightened. Trepp reports that secondary volumes reached the highest leve...
6 June 2014
The ECB has announced measures to support lending to the real economy, including intensifying preparatory work for outri...
6 June 2014
US ABS secondary market activity picked up yesterday as BWIC volume reached around US$172m. SCI's PriceABS data captured...
5 June 2014
Credit Foncier de France's €907m CFHL-1 2014 prime RMBS - which closed last month (see SCI's primary...
5 June 2014
The European CMBS secondary market has been subdued recently, although BWICs have been announced for both today and tomo...
4 June 2014
An increasing number of US CMBS 2.0 and 3.0 loans have begun to enter special servicing or show initial signs of distres...
3 June 2014
The week started with limited activity in the US ABS or MBS markets but an active session for the CLO secondary market....
3 June 2014
A look at the major activity in structured finance over the past seven days
PipelineBank holidays on either side of the Atlantic contributed to a relatively quiet week. Four ABS, four RMBS and fou...
2 June 2014
US non-agency RMBS BWIC volume picked up yesterday to reach around US$410m. A variety of bonds were out for the bid, inc...
29 May 2014
New capital invested in reinsurance sidecars reached US$1.92bn in 1Q14, the highest level of quarterly growth in the seg...
28 May 2014
CLO spreads are trading in the middle of their post-crisis range, in contrast to most other securitised products, where...
23 May 2014
Ford Credit has priced a unique prime auto loan ABS that brings some welcome diversification to the sector. The US$1.08b...
22 May 2014
IEF, the sponsor of Dutch CMBS Leo-Mesdag, has offered noteholders an enhanced restructuring proposal. The new proposal...
22 May 2014
US ABS BWIC volume approached US$180m yesterday on the back of a couple of quieter sessions. SCI's PriceABS data shows a...
21 May 2014
The US non-agency RMBS secondary market made a solid start to the week as BWIC volume approached US$450m yesterday. Acti...
20 May 2014
FX risk is an established consideration for the CLO market - especially for European CLOs. JPMorgan CDO analys...
20 May 2014
A look at the major activity in structured finance over the past seven days
PipelineSeventeen deals remained in the pipeline by the end of last week. They consisted of five ABS, three ILS, three R...
19 May 2014
ECB attitude shift provides securitisation lift
The re-emergence of the European securitisation market has been helped by initiatives like the European DataWarehouse (S...
16 May 2014
US CMBS loans have experienced an increase in the number of early prepayments with defeasance or yield maintenance recen...
15 May 2014
US ABS bid-list activity picked up yesterday on the back of higher auto and student loan supply. BWIC volume was around...
15 May 2014
The most recent payment report for European CMBS Infinity Soprano shows that the transaction amortised by €31....
15 May 2014
The first four months of the year have seen 60 US CMBS B-piece bonds appear a combined 97 times on BWICs. Dodd-Frank ris...
14 May 2014
US non-agency RMBS BWIC volume reached US$716m in yesterday's session as supply was up across all product types. Most of...
14 May 2014
Non-conforming pay-down triggers anticipated
UK non-conforming RMBS continues to outperform US subprime RMBS and several deals are now approaching their pay-down swi...
13 May 2014
US CMBS bid-list volume came in at around US$175m yesterday, slightly lower than it had been at the end of last week. SC...
13 May 2014
A look at the major activity in structured finance over the past seven days
Pipeline Just nine new deals were added to the pipeline last week. These consisted of three ABS, an ILS, two RMBS, a CM...
12 May 2014
European CLO investors are largely waiting on the sidelines and observing as secondary market activity has slowed consid...
9 May 2014
The outlook for the Stuyvesant Town-Peter Cooper Village loan, securitised in five CMBS, has improved. Losses are no lon...
9 May 2014
The strength of US CMBS XA tranche BWIC execution last month caught the market by surprise, leading to a sharp rally in...
8 May 2014
Despite the high level of uncertainty the CLO market has faced, JPMorgan has increased its issuance estimates for the US...
8 May 2014
US ABS BWIC activity picked up to around US$177m yesterday - up from just US$58m the day before - wi...
8 May 2014
US RMBS investors could receive an estimated US$11.5bn-US$24.2bn in additional proceeds, if other rep and warranty settl...
8 May 2014
US non-agency RMBS bid-list volume was moderate again yesterday at a little under US$500m. Supply was dominated by adjus...
7 May 2014
US CMBS BWIC supply was over US$200m yesterday as spreads stayed mostly unchanged. CMBS 2.0 and 3.0 single-A rated secur...
2 May 2014
Housing finance solution debated
A US senate markup hearing took place this week for the Crapo-Johnson bill (SCI 12 March), although it was recessed with...
2 May 2014
The European RMBS market is currently abuzz with interest in an upcoming French deal. Meanwhile, secondary market spread...
1 May 2014
Coterminous leases could be problematic for 2005-2007 vintage US CMBS loans that are scheduled to mature in 2015-2017. L...
1 May 2014
Fourteen large banks that sold private label MBS to Fannie Mae and Freddie Mac have now settled with the FHFA (SCI passi...
1 May 2014
A number of Italian RMBS that were previously retained by their originators have been remarketed and publicly placed in...
30 April 2014
US non-agency RMBS secondary market supply picked up considerably yesterday as BWIC volume soared to more than US$900m....
30 April 2014
An LSTA interpretation of the language used by the US Fed in its extension of the CLO conformance period under the Volck...
30 April 2014
US ABS BWIC volume was subdued yesterday, just creeping above US$50m. SCI's PriceABS data shows supply dominated by auto...
29 April 2014
A judgement has been delivered on directions sought by US Bank as trustee with respect to the Titan Europe 2007-1 (NHP)...
29 April 2014
A look at the major activity in structured finance over the past seven days
Pipeline Several new deals joined the pipeline last week once Easter had passed. Among them were an ABS and two ILS, as...
28 April 2014
RMBS valuations complicated by lack of bid-list activity
US RMBS secondary market supply has dried up over the last several weeks in a way that ABS and CMBS volumes have not. Th...
25 April 2014
Anticipation is growing over similar settlements occurring for Morgan Stanley and Wells Fargo RMBS shelves, following th...
24 April 2014
US CMBS secondary market spreads were generally unchanged yesterday, although legacy conduit fixed AMs and AJs did tight...
24 April 2014
The US non-agency RMBS secondary market remains subdued, with a little under US$400m of P&I bonds on BWICs yeste...
23 April 2014
An increase in US ABS bid-list supply yesterday was largely driven by auto ABS paper. BWIC volume reached around US$70m...
22 April 2014
US RMBS secondary market activity finally picked up yesterday, as a US$678m bid-list traded. Non-agency BWIC volume reac...
17 April 2014
Meaningful shifts in cashflow, structure and collateral performance for GSMS 2007-GG10 may mean that consideration of ot...
17 April 2014
NPL securitisation opportunity may be ending
As legacy non-agency RMBS yields have largely dried up, investors have had to look elsewhere. Attractive absolute return...
16 April 2014
CLO investing in an evolving regulatory environment discussed
Representatives from Thomson Reuters, Prudential Fixed Income and Guggenheim Securities discussed the CLO investment lan...
16 April 2014
European DataWarehouse (ED) loan-level data for Obvion's STORM programme suggests that forthcoming resets may affect Dut...
16 April 2014
SCI's PriceABS data shows a mix of auto and railcar bonds circulating on bid-lists yesterday as US ABS secondary market...
16 April 2014
Single-B loans appear to represent the sweet spot for US CLO 2.0 assets, given risk and reward considerations. At the sa...
15 April 2014
Restructuring negotiations for Punch's securitisations continue and both have requested DSCR waivers. Punch A...
15 April 2014
There was a lot of price talk on European CMBS tranches in the secondary market yesterday, but a lack of trades as the m...
15 April 2014
Katie Skeels, associate at Hogan Lovells, examines current trends and solutions in cross-border disp...
Hogan Lovells recently published a report - entitled 'Global Currents - Trends in Complex Cross-Bord...
15 April 2014
A look at the major activity in structured finance over the past seven days
Pipeline A number of new deals were announced last week. In total, eight ABS, three ILS, three RMBS and six CLOs were a...
14 April 2014
The US RMBS secondary market was quiet once again yesterday as bid-list volume dipped to around US$335m. SCI's PriceABS...
11 April 2014
H/2 Asset Funding 2014-1, which closed last month, could represent a watershed for the CREL CDO market. The transaction...
11 April 2014
The European CLO market continues to feel the effects of the recent Vivarte default (SCI 18 March) as new deals struggle...
10 April 2014
US CMBS BWIC volume reached US$287m yesterday, with activity skewed towards AM and AJ bonds. Supply is set to jump today...
9 April 2014
The US Fed says it intends to give banking entities two additional one-year extensions to 21 July 2017 to conform their...
8 April 2014
Mortgage servicers in the cross hairs
Investors and regulators have both started to fix mortgage servicers in their sights. A fresh wave of litigation could f...
8 April 2014
A look at the major activity in structured finance over the past seven days
Pipeline There were 11 new additions to the pipeline last week that had not priced by Friday. They consisted of six ABS...
7 April 2014
US non-agency RMBS secondary market activity continued to build yesterday. BWIC volume reached around US$850m and SCI's...
4 April 2014
European CMBS has performed better than its reputation might suggest. The principal loss rate to date is an estimated 0....
3 April 2014
The European RMBS market has been consistently busy in recent weeks. This healthy level of activity has fuelled a rally...
3 April 2014
Investors drawn to developing non-traditional ABS market
US esoteric ABS is attracting greater attention as investors seek yield. Several potential growth areas are emerging, wi...
3 April 2014
Home prices in the US may be going up, but so are loss severities. A marked difference in severities is emerging between...
2 April 2014
After anaemic secondary supply to start the week, US CMBS BWIC volume shot up yesterday to about US$500m. More than half...
2 April 2014
Recent comments from Fed chair Janet Yellen have led to a dramatic re-pricing of the front end of the rates market, with...
1 April 2014
Healthy US ABS secondary market activity yesterday contrasted sharply with the non-agency RMBS and CMBS segments, where...
1 April 2014
Growth ahead for Chinese ABS
The Chinese securitisation market passed two milestones - in October and February respectively - whe...
1 April 2014
A look at the major activity in structured finance over the past seven days
PipelineIt was back to normal for the pipeline last week as ABS additions once again led the way. Nine new ABS were anno...
31 March 2014
US non-agency RMBS secondary market activity picked up yesterday as bid-list supply increased to around US$650m. SCI's P...
27 March 2014
US CMBS BWIC volume climbed to around US$700m yesterday, significantly boosted by one large list of 2005 and 2006 duper...
26 March 2014
This quarter marks the first time that average US commercial property liquidation proceeds have been higher than corresp...
25 March 2014
The investment grade CDS-cash basis remains very negative in the US and positive in Europe. With this discrepancy expect...
25 March 2014
Reed Smith partner Nick Stainthorpe discusses new investors, technology and opportunities in supply ...
The increased interest from alternative investors in trade receivables is the result of a number of factors. These inclu...
25 March 2014
The Markit iTraxx Crossover index expanded to 60 names in the roll to Series 21, reflecting the expanding high yield mar...
24 March 2014
A look at the major activity in structured finance over the past seven days
Pipeline In a departure from the typical weekly pattern, additions to the pipeline last week were dominated by RMBS nam...
24 March 2014
The recent stability in the US CMBS secondary market continued yesterday with BWIC volume steady at around US$380m. Gene...
21 March 2014
The European ABS market continues to quietly generate primary issuances and secondary market bid-lists without making to...
20 March 2014
Trups CDO performance has recovered as bank fundamentals have improved. The rebounding sector can provide investors with...
20 March 2014
While the financial services industry has to date focused on accountability and credit ratings eleme...
News that the US SEC postponed a vote in early February regarding the adoption of rules revising the disclosure, reporti...
20 March 2014
After a quiet start to the week, US non-agency RMBS secondary market activity picked up yesterday. BWIC volumes were aro...
19 March 2014
US ABS BWIC volume dropped yesterday to a little over US$100m. Much of the supply came from bonds backed by auto collate...
18 March 2014
The US House Financial Services Committee on Friday passed Representative Andy Barr's H.R. 4167 bill (SCI 13 March) on a...
17 March 2014
A look at the major activity in structured finance over the past seven days
Pipeline A number of transactions entered the pipeline last week and were swiftly priced. Five ABS deals remained by Fr...
17 March 2014
GSMS 2007-GG10 AM spreads moved tighter yesterday, following the resolution of US$583m of specially-serviced loans and a...
14 March 2014
Up to US$30bn of US CLO 2.0 deals could be candidates for refinancing this year, with refinancing or repricing potential...
12 March 2014
US non-agency RMBS supply picked up yesterday as BWIC volume reached around US$664m. That level is set to rise with Fred...
12 March 2014
US Senate Banking Committee chairman Tim Johnson and ranking member Mike Crapo have reached an agreement on a housing fi...
12 March 2014
US ABS bid-list supply during yesterday's session was mainly accounted for by credit card names. BWIC volumes reached al...
11 March 2014
Fast-tracking of business plans among certain UK water companies is expected to drive tightening across their securitise...
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 n...
10 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 se...
7 March 2014
Peer-to-peer securitisation has room to grow
The peer-to-peer securitisation market may be in its infancy, but a handful of deals have already been completed. While...
7 March 2014
Boosted by the FHFA's decision to limit GSE originations through tighter underwriting, the share of multifamily loans in...
6 March 2014
US non agency RMBS bid-list volumes picked up considerably yesterday to reach almost US$850m for the session. Activity w...
6 March 2014
European CLO equity cashflows have lagged their US cousins for several reasons, but their prospects continue to improve...
6 March 2014
The GSEs have published their annual financial reports for last year, confirming that RMBS and CMBS disposals slowed dow...
5 March 2014
Euro CLO idiosyncratic risks emerging
Vivarte's decision to suspend payments on its debt (SCI 18 February) has served as a wake-up call regarding tail risk in...
5 March 2014
US CMBS BWIC volume was steady yesterday at around US$233m as spreads tightened. A considerable chunk of that supply was...
5 March 2014
The noteholder dispute over Mount Street's replacement of Capita as the special servicer for Titan Europe 2007-1 (NHP) (...
4 March 2014
Sidecars, SACs and private cat bonds gaining ground
The dominance of catastrophe bonds in the ILS sector could be challenged by the growth of sidecars. With segregated acco...
4 March 2014
A look at the major activity in structured finance over the past seven days
Pipeline There was no slowing down in activity last week as another 13 deals joined the pipeline. They consisted of fou...
3 March 2014
US CLO equity is one of the few remaining fixed income products offering high carry. The segment posted an average cashf...
28 February 2014
Yesterday proved to be a busy session for the European CLO secondary market. Amidst the strong supply was what is believ...
27 February 2014
A number of trends have become apparent for the loans liquidated in CWCapital's bulk sale (SCI passim). Proceeds have ge...
26 February 2014
Judge Scarpulla of the New York State Court ruled last week that the judgement entered by Judge Kapnick on 31 January in...
25 February 2014
Generic US CMBS spreads were mostly unchanged yesterday with BWIC volume of around US$270m. SCI's PriceABS data reveals...
25 February 2014
A look at the major activity in structured finance over the past seven days
PipelineA steady flow of new deals joined the pipeline last week. As well as three ABS and two ILS, three RMBS and three...
24 February 2014
US ABS secondary supply was mainly concentrated in auto loan bonds yesterday. BWIC volume was slightly lower than the pr...
21 February 2014
Mixed loan-level developments for the pan-European CMBS Cornerstone Titan 2007-1 suggest that principal losses could rea...
21 February 2014
US non-agency RMBS BWIC activity picked up strongly yesterday to reach almost US$900m. Subprime paper was prevalent on b...
20 February 2014
Spread compression to drive non-core issuance
A supply squeeze in European ABS is driving spread compression across asset classes and between senior and junior tranch...
19 February 2014
European CLO investors are becoming increasingly competitive in their search for yield. Equity pieces are particularly w...
19 February 2014
A look at the major activity in structured finance over the past seven days
Pipeline Last week saw a healthy mix of deals added to the pipeline. Three new ABS, two ILS, an RMBS, two CMBS and two...
17 February 2014
After some GMAC/RFC deals wrapped by FGIC began to receive settlement payments in the January remittance (SCI 7 February...
14 February 2014
Last year saw 21 European CLOs price and several of those deals have now passed their effective dates. Compared to legac...
14 February 2014
Noteholder communications, technology and clearing systems discussed
Participants in SCI's latest corporate trust roundtable met in December to discuss post-closing best practices and noteh...
13 February 2014
Anu Munshi, managing partner at B&B Structured Finance, assesses the current regulatory environm...
Anyone trying to keep track of bank regulations should be excused for clutching their head, screaming or both. The dizzy...
13 February 2014
US ABS BWIC volume surged to US$241m yesterday, up from just US$77m the day before. Supply was skewed towards credit car...
13 February 2014
There can be significant month-to-month changes in US auto loan ABS prepayment speeds. This degree of seasonality introd...
13 February 2014
Approval of the US$8.5bn Countrywide RMBS settlement (SCI 3 February) has been stayed by Justice Saliann Scarpulla of th...
12 February 2014
Generic US CMBS spreads were unchanged yesterday as BWIC volume climbed to US$260m. SCI's PriceABS data shows supply con...
12 February 2014
Bid-list activity eased off in the US RMBS market yesterday, with total non-agency BWIC volume of around US$240m. Dealer...
11 February 2014
CLO market seeking Volcker compliance
US CLO volume totalled US$2.5bn last month, markedly down from the US$9.8bn reached in January 2013. Uncertainty about t...
11 February 2014
A look at the major activity in structured finance over the past seven days
Pipeline The pace of deals joining the pipeline continued to quicken last week. At the close of Friday, four new ABS, o...
10 February 2014
Activity has slowed in the European secondary CMBS market as paper has become harder to come by. While demand remains st...
7 February 2014
Credit derivative reforms only a 'partial solution'
The adoption of central clearing and trade repositories has increased transparency and liquidity across the credit deriv...
7 February 2014
BWIC volume continued to grow in the US CMBS market yesterday, reaching around US$450m for the session. SCI's PriceABS d...
6 February 2014
The US House Committee on Financial Services held a hearing yesterday on the potential ramifications of the Volcker Rule...
6 February 2014
Bulk sales key to CMBS delinquency rate and investor fortunes
The US CMBS delinquency rate has been falling month after month since last summer. The recent CWCapital REO auction and...
6 February 2014
US ABS BWIC volume picked up yesterday to around US$184m, with supply mainly driven by auto names. However, SCI's PriceA...
5 February 2014
US CMBS credit quality has improved in many ways, but upcoming lease expirations continue to provide a potential source...
4 February 2014
It was a promising start to the week for US RMBS, as non-agency BWIC volume picked up to reach US$477m. SCI's PriceABS d...
4 February 2014
A look at the major activity in structured finance over the past seven days
PipelineThe pipeline was busy with deals passing through last week. Three new ABS, three RMBS and two CLOs remained in t...
3 February 2014
Reduced agency MBS purchases still swamp supply
This month marks the start of a new phase for the agency RMBS market as the New York Fed further reduces its asset purch...
3 February 2014
Valuation standards on the cards
The International Valuation Standards Council (IVSC) is establishing a cross-industry taskforce to develop principles of...
3 February 2014
It was another busy session in the CLO secondary market yesterday. Supply was dominated by 1.0 mezzanine paper, apparent...
30 January 2014
As part of a move to reduce its retained portfolios, Freddie Mac last year began securitisation programmes for current m...
30 January 2014
Generic US CMBS spreads were unchanged yesterday as bid-list volume continued to climb, reaching almost US$246m for the...
29 January 2014
Last week saw a first for European CMBS, when Hatfield Philips International was replaced with Mount Street as the prima...
29 January 2014
Following a failure to pay, credit events have been called for the EHE Pool 1A and 2B reference obligations, representin...
28 January 2014
US ABS BWIC volume reached a monthly high yesterday as traders returned to their desks after the ABS Vegas conference. B...
28 January 2014
A look at the major activity in structured finance over the past seven days
Pipeline As market participants decamped to Las Vegas last week, only five new deals were added to the pipeline. The tr...
27 January 2014
The JPMCC 2011-C5 US$49.7m class A1 notes paid off this month after three loans - the US$26.43m Lehigh Valley...
24 January 2014
US CMBS BWIC volume picked up considerably yesterday to about US$200m. Generic GG10 spreads remained largely unchanged,...
23 January 2014
The insurance-linked securities market experienced a surge in issuance last year to end only US$800m short of 2007's rec...
23 January 2014
Ginnie Mae loan-level disclosures indicate that FHA-to-conventional refinances are a meaningful contributor to GNMA prep...
23 January 2014
The continued normalisation taking place in the US housing market provides scope for mortgage credit to expand from its...
21 January 2014
A look at the major activity in structured finance over the past seven days
PipelineAdditions to the pipeline last week were focused on CMBS and CLOs. In ABS, the €440m E-Carat Compartme...
20 January 2014
The European CLO secondary market has kicked off the year with a major rally, with prices significantly higher than they...
17 January 2014
US CLO 2.0 deals now account for around half of the outstanding market. OC cushions among those transactions have been d...
16 January 2014
US ABS BWIC volume rose markedly yesterday to US$219m. Offering levels were down slightly for auto loan bonds, which dom...
15 January 2014
Mixed fortunes in structured finance recruitment
Certain areas of the structured finance recruitment sector are growing, but large parts remain muted. European activity...
15 January 2014
The US CLO and CMBS sectors saw impressive issuance in 2013, as the recovery in the asset classes continued apace. Europ...
14 January 2014
The implementation of the US Treasury Market Practices Group's (TMPG) margin practices appears to have met its near-term...
13 January 2014
A look at the major activity in structured finance over the past seven days
Pipeline The pipeline has begun to grow again as new deals have already been announced to kick off 2014. Last week saw...
13 January 2014
US CMBS spreads continued to tighten yesterday as bid-list activity grew. BWIC volume reached around US$219m, with a lar...
10 January 2014
An Interactive Data analysis of last month's US$5.1bn IABF sale suggests that the Dutch State Treasury Agency (DSTA) div...
10 January 2014
CMBX.7 is expected to launch on 27 January. While its exact composition is yet to be confirmed, the index is predicted t...
9 January 2014
The European CMBS secondary market has made a positive start to 2014. SCI's PriceABS data shows several covers from yest...
9 January 2014
After US ABS BWIC volumes picked up on Monday, it was the turn of non-agency RMBS supply to rise yesterday. Bid-list vol...
8 January 2014
The swearing in of Mel Watt as FHFA director on Monday (6 January) marked the official end to the DeMarco era. While the...
8 January 2014
Dennis Buckley, director at Credit Mediation Limited, discusses alternative securitised NPL structur...
Estimates from reports compiled by PwC and EY put the current volume of non-performing loans (NPLs) made by banks within...
7 January 2014
A unanimous ruling by a four-judge bench of the Supreme Court of the State of New York holds that the six-year statute o...
7 January 2014
Auto and credit card bonds dominated supply in the US ABS secondary market yesterday, as BWIC volume begins to pick up f...
7 January 2014
Further structural evolution remains a priority for the US CLO market, with respondents to JPMorgan's Q1 client survey h...
7 January 2014
As Sallie Mae transitions certain assets and functions under its reorganisation (SCI 30 May 2013), both newly created en...
6 January 2014
EIOPA has recalibrated the proposed Solvency 2 spread risk charges for securitisations to increase differentiation betwe...
3 January 2014
Last month's remittance reports show that a number of US non-agency RMBS received make-whole payments. At the same time,...
3 January 2014