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NPLs

NPLs refers to securitisations that are structured utilising non-performing loans from either one or a collection of loan issuers. Typically involving large whole loan portfolios from distressed asset investors or non-core asset disposals from a bank, NPL securitisations are a strongly growing part of the structured credit and ABS markets. NPL structures used to date include ABS, RMBS and CLOs, though it is likely that these will broaden to CMBS and beyond in time.


  • CECL delayed

    EU banks await IFRS 9 relief

    The US Fed, the FDIC and the OCC last week approved an extension of the new credit loss accounting s...

    News    31 March 2020
  • SCI Start the Week - 30 March

    A review of securitisation activity over the past seven days

    Transaction of the week Northern Arc Capital and fintech platform CredAble have closed a trade fina...

    News    30 March 2020
  • Liquidity risk

    Pandemic pressure on NPL performance

    Economic disruption caused by Covid-19 is expected to negatively impact the timing and amount of col...

    News    27 March 2020
  • SCI Start the Week - 23 March

    A review of securitisation activity over the past seven days

    SCI NPL Securitisation Awards 2020 - new deadline SCI NPL Securitisation Awards 2020 - new de...

    News    23 March 2020
  • NPL supervisory flexibility introduced

    Sector developments and company hires

    Canadian purchase programme The Canadian government has launched a revised Insured Mortgage Purchas...

    Market moves    20 March 2020
  • SCI Start the Week - 16 March

    A review of securitisation activity over the past seven days

    SCI NPL Securitisation Awards 2020 As a result of COVID-19, the SCI NPL Securitisation semina...

    News    16 March 2020
  • AMC uncertainty

    Trade deal clouded by uncertainties for NPLs

    The US-China trade deal now finally allows foreign investors to acquire coveted local AMC licences t...

    News    13 March 2020
  • Mortgage moratoriums

    Impact of payment suspensions to be limited

    The Italian government and a trio each (at the time of writing) of lenders in Ireland and the UK are...

    News    12 March 2020
  • SCI Start the Week - 9 March

    A review of securitisation activity over the past seven days

    Transaction of the week AmTrust International has completed its inaugural capital relief trade, whi...

    News    9 March 2020
  • NPL reductions eyed

    Greek liquidation law set to facilitate securitisation

    Non-performing loan securitisations are expected to be the primary tool for NPL reductions in Greece...

    News Analysis    6 March 2020
  • IRPH index ruling 'credit negative'

    Sector developments and company hires

    CMBS property sales KBRA has been notified of the sale of 29 properties in the Eos (ELoC No. 35) CM...

    Market moves    3 March 2020
  • Performance issues

    Italian NPL ABS business plans scrutinised

    A recent analysis of 19 Italian non-performing loan securitisations reveals that 15 of these transac...

    News    3 March 2020
  • NPL recognition delayed

    Chinese SMEs supported amid Coronavirus outbreak

    Chinese regulators are allowing the country’s banks to delay the recognition of non-perfor...

    News    2 March 2020
  • SCI Start the Week - 2 March

    A review of securitisation activity over the past seven days

    New MRT report SCI has published a new Special Report on the US Mortgage Risk Transfer sector &...

    News    2 March 2020
  • Project Cairo prepped

    Eurobank applies for HAPS guarantee

    Eurobank has applied to the Greek government for a senior tranche guarantee under the Hercules Asset...

    News    26 February 2020
  • SCI Start the Week - 24 February

    A review of securitisation activity over the past seven days

    REMINDER: SCI NPL Securitisation Awards 2020 Nominations are now open for the inaugural SCI N...

    News    24 February 2020
  • Distressed debt unit formed

    Oaktree establishes Chinese subsidiary

    Oaktree Capital Management has become the first foreign distressed debt manager to set up a wholly o...

    News    19 February 2020
  • SCI Start the Week - 17 February

    A review of securitisation activity over the past seven days

    REMINDER: SCI NPL Securitisation Awards 2020 Nominations have now opened for the inaugural SC...

    News    17 February 2020
  • ArrowMark acquires investment platform

    Sector developments and company hires

    Acquisition ArrowMark Partners has acquired the bank investment platform and assets of StoneCastle...

    Market moves    14 February 2020
  • Positive outlook

    Spanish REO boost expected

    The outlook for Spanish non-performing loan transactions backed by repossessed real estate appears p...

    News Analysis    14 February 2020
  • Futura placed

    European ABS market update

    JPMorgan has placed the re-offered Futura 2019 NPL ABS at a wider print than some market participant...

    Market Reports    14 February 2020