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SCI Start the Week - 19 July

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A review of SCI's latest content

Last week's news and analysis
Back in vogue?
Reverse equity to test market appetite
Bridging the gap
Sustainable SRTs to spur ESG securitisation growth?
Endless cash
European ABS/MBS market update
Foreclosure fears
CFPB's new rule curtailing foreclosures complicates mortgage market
Lift off
BMO programme details revealed
Loss mitigation mechanics
Euro CLO primary practice around LML documentation discussed
MPL rewards
Generous MPL returns stand out in parsimonious ABS market
Positive story?
Mortgage performance eyed as support ends

For all of last week’s stories including ‘Market moves’ and ‘Risk transfer round-up’ click here.

Recent research to download
Sustainable SRT - July 2021
A steady stream of renewables significant risk transfer deals is expected to come on to the market in the coming months. This CRT Premium Content articles investigates whether synthetics can spur growth across the broader ESG securitisation sector.

CLO Case Study - Summer 2021
In this latest in the series of SCI CLO Case Studies, we examine the uptake of loss mitigation loan language in European deals since the concept emerged a year ago. Read this free report to find out the background, challenges and deal numbers involved in the necessary significant documentation rewrite required.

Synthetic Excess Spread - May 2021
The requirement to fully capitalise synthetic excess spread is expected to result in SRT issuers dropping the feature from their transactions. This CRT Premium Content article weighs the relative benefits of synthetic securitisations versus those of full-stack cash deals, in which originators can use excess spread.

Upcoming events
SCI's 3rd Annual NPL Securitisation Seminar
14 September 2021, Virtual Event
The volume of non-performing loans on European bank balance sheets is expected to increase due to Covid-19 stress and securitisation is recognised by policymakers as key to enabling these assets to be disposed of. SCI’s NPL Securitisation Seminar explores the impact of the coronavirus fallout on performance and issuance, as well as on pricing assumptions, servicing and workout trends across the European market. Together with recent regulatory developments, the event examines the establishment of an asset protection scheme in Greece and the emergence of synthetic NPL ABS.

SCI's 7th Capital Relief Trades Seminar
13 October 2021, In Person Event
Last year saw significant regulatory developments in connection with capital relief trades, including the publication of the EBA’s final SRT report and the introduction of an STS synthetics regime. SCI’s Capital Relief Trades Seminar will explore the impact of these developments, as well as the latest trends and activity across the sector.