Structured Credit Investor SCI’s 5th Annual Capital Relief Trades Seminar 17 October 2019, London
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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.


  • Hercules sets forth

    Greek asset protection scheme approved

    The European Commission has announced that the Greek government’s asset protection scheme...

    News Analysis    11 October 2019
  • SCI Start the Week – 7 October

    A review of securitisation activity over the past seven days

    Transaction of the week RMF is marketing its first private RMBS backed by jumbo proprietary reverse...

    News    7 October 2019
  • Autumn sales

    Italian NPL, UTP disposals continue apace

    Illimity Bank and a Cerberus Capital Management affiliate have acquired a second unlikely-to-pay loa...

    News    2 October 2019
  • SCI Start the Week - 23 September

    A review of securitisation activity over the past seven days

    Transaction of the week Deutsche Bank is marketing a £114m UK CMBS, dubbed Deco 2019-RAM....

    News    23 September 2019
  • Investor reassurance

    Spanish Supreme Court ruling assuages NPL ABS investor concerns

    Spain’s Supreme Court has ruled that Spanish banks are obliged to wait until at least 12 m...

    News Analysis    20 September 2019
  • Case for STS synthetics outlined

    Benefits of STS on synthetics clear, but objections could be raised

    The EBA is set to release its discussion paper on the application of the STS label to synthetic secu...

    News Analysis    20 September 2019
  • Targeting opportunities

    Servicers continue hunt for Greek NPL ABS

    Hipoges Iberia, the Iberian servicer, is targeting opportunities in the Greek non-performing loan ma...

    News Analysis    13 September 2019
  • SCI Start the Week - 9 September

    A review of securitisation activity over the past seven days

    Transaction of the week The EIF has launched two new funding initiatives to support SMEs in Europe,...

    News    9 September 2019
  • Going concern?

    Synthetics could help address UTP burden

    Synthetic securitisation is being put forward as one way of proactively addressing the unlikely-to-p...

    News Analysis    5 September 2019
  • SCI Start the Week - 2 September

    A review of securitisation activity over the past seven days

    Market commentary A new Fitch study shows that there is a wide range in trustee reported market val...

    News    2 September 2019
  • NPL relief

    ECB extends provisioning calendar

    The ECB is set to align its supervisory expectations regarding the provisioning of new non-performin...

    News Analysis    30 August 2019
  • Deleveraging boost

    Monte dei Paschi completes NPL disposals

    Banca Monte dei Paschi di Siena has sold a further four non-performing loan portfolios for approxima...

    News    21 August 2019
  • SCI Start the Week - 19 August

    A review of securitisation activity over the past seven days

    Transaction of the week CFO backed by PE portfolio (SCI 13 August) Nassau Alternative Investments...

    News    19 August 2019
  • Pricing tension

    Houlihan Lokey model leveraged in shipping deal

    Nord LB completed a landmark €2.6bn shipping non-performing loan deal with Cerberus in Apri...

    News    16 August 2019
  • SCI Start the Week - 12 August

    A review of securitisation activity over the past seven days

    SCI CRT awards Don't miss out on your chance to win: the submissions deadline for the inaugural SCI...

    News    12 August 2019
  • NPL disposals sealed

    Two banks offload Italian loan portfolios

    Two disposals of Italian non-performing and performing loans (NPLs) originated by Unicredit and ING...

    News    8 August 2019
  • JV agreed

    Intesa readies UTP securitisation

    Intesa San Paolo has reached an agreement with Prelios that involves the securitisation of a &eu...

    News    7 August 2019
  • SCI Start the Week - 5 August

    A review of securitisation activity over the past seven days

    Market commentary Portuguese RMBS outperformed other securitisation asset classes last week, booste...

    News    5 August 2019
  • NPL SRT inked

    Hoist Finance tackles backstop regulation

    Hoist Finance has sold a €225m portfolio of Italian unsecured non-performing loans via an u...

    News Analysis    1 August 2019
  • SCI Start the Week - 29 July

    A review of securitisation activity over the past seven days

    Transaction of the week Unusual securitisation backed by music rights collateral (SCI 23 July) SE...

    News    29 July 2019
  • Italian renaissance?

    Spike in new issuance supported for now

    The uptick in Italian ABS/MBS primary issuance in the past month or so gives the impression of a lon...

    News Analysis    24 July 2019