A review of SCI's latest content
SCI In Conversation podcast
In this special episode, released today, Matthew Bisanz, a partner in Mayer Brown’s bank regulatory practice, outlines how the Federal Reserve’s update on 28 September of the FAQs on Regulation Q is likely to impact the US capital relief trades market.
Last week's news and analysis
Cat bond rebound
'Significant repricing' spurring renewed interest in ILS
Front and centre
More bank origination expected as TLTROs expire
Fundamental review
FSB response calls for level playing field
Glad confident morning again
Fed's CRT clarity both welcome and begins new era
Job swaps weekly: HSBC snaps up former Deutsche Bank CLO head
People moves and key promotions in securitisation
Latest SRTx fixings released
Index values indicate incremental widening in spreads
Risk transfer round-up - 5 October
The week's CRT developments and deal news
Rithm strengthens MSR capabilities
Updates on Rithm’s mortgage acquisition and Octaura’s AI addition
Roll with the changes
CLO rating upgrades on the cards
RRAM acquires second slate of CLOs
Updates on Redding Ridge’s acquisition, Altriarch’s investor and CRA charges
'Sluggish' September?
Quarterly SCI CRT data review
Plus
Deal-focused updates from our ABS Markets and CLO Markets services.
Regulars
Recent premium research to download
Emerging UK RMBS – July 2023
The return of 100% mortgages and the rise of later-life lenders herald an evolving UK RMBS landscape. This Premium Content article investigates how mortgage borrowers’ changing needs are being addressed.
Office CMBS – July 2023
The office CMBS market is grappling with headwinds brought about by declining occupancy rates and rising costs of borrowing. However, as this Premium Content article finds, the European CRE market may not be as badly affected as its US counterpart.
CRT counterparty risk – May 2023
Recent banking instability is unlikely to result in contractual changes in synthetic securitisations, but structural divergences are emerging. This Premium Content article investigates further.
‘Socialwashing’ concerns – May 2023
Concerns around ‘socialwashing’ remain, despite recent advances in defining social securitisations. This Premium Content article investigates why the ‘social’ side of ESG securitisation is more complex than its ‘green’ cousin.
European solar ABS – May 2023
Continental solar ABS is primed for growth as governments and consumers seek energy independence. This Premium Content article investigates.
All of SCI’s premium content articles can be found here.
SCI In Conversation podcast
In the latest episode, Matthew Bisanz, a partner in Mayer Brown’s bank regulatory practice, outlines how the Federal Reserve’s update on 28 September of the FAQs on Regulation Q is likely to impact the US capital relief trades market. The long-awaited guidance clarifies the definition of a synthetic securitisation and, crucially, states that a reservation of authority can be requested for direct CLNs. Bisanz, for one, anticipates an increased willingness – especially among larger CCAR banks – to enter into CRTs as a result.
The episode can be accessed here, as well as wherever you usually get your podcasts, including Apple Podcasts and Spotify (just search for ‘SCI In Conversation’).
SCI Markets
SCI Markets provides deal-focused information on the global CLO and Australian/European/UK ABS/MBS primary and secondary markets. It offers intra-day updates and searchable deal databases alongside CLO BWIC pricing and commentary. Please email Tauseef Asri at SCI for more information or to set up a free trial here.
SRTx benchmark
SCI has launched SRTx (Significant Risk Transfer Index), a new benchmark that measures the estimated prevailing new-issue price spread for generic private market risk transfer transactions. Calculated and rebalanced on a monthly basis by Mark Fontanilla & Co, the index provides market participants with a benchmark reference point for pricing in the private risk transfer market by aggregating issuer and investor views on pricing. For more information on SRTx or to register your interest as a contributor, click here.
Upcoming SCI events
Women In Risk Sharing
18 October 2023, London
SCI's 9th Annual Capital Relief Trades Seminar
19 October 2023, London
Esoteric ABS Seminar
7 November 2023, New York
European CRE Finance Seminar
28 November 2023, London