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• News Analysis

  • SRT Journal: LatAm as the new emerging market

    The last of five essays compiled in SCI's inaugural SRT Journal explores Latin America's burgeoning ...

    Thanks to trailblazing deals issued by Santander, the Latin American (LatAm) SRT market is open for business and is perhaps the sector’s most promising emerging market. Enabled by multilateral development banks (MDBs), Santander has complet...

    2 December 2024     Free

• News Analysis

  • SRT Journal: A growth market

    The fourth of five essays compiled in SCI's inaugural SRT Journal examines the growth of unfunded mo...

    Mortgage insurance is as old as the hills, but the provision of financial guarantees or insurance policies on pools of home loans to secure capital relief as a tool of the significant risk transfer (SRT) market is of much more recent vintage. SCI loo...

    25 November 2024     Free

• News Analysis

  • SRT Journal: Cross-pollination

    The third of five essays compiled in SCI's inaugural SRT Journal investigates whether CRT market ter...

    An increasingly favoured solution to banks’ capital needs, the US CRT market is poised for substantial expansion. However, for the CRT market to be scalable to smaller banks and smaller investors, market terms need to standardise. Histori...

    18 November 2024     Free

• News Analysis

  • SRT Journal: Moving parts

    The second of five essays compiled in SCI's inaugural SRT Journal explores US regional bank CRT acti...

    CRTs are becoming increasingly attractive to US regional banks, having historically remained almost exclusively the preserve of the so-called global systemically important banks (G-SIBs) in the country. Yet a much anticipated wave of issuance in 2024...

    12 November 2024     Free

• News Analysis

  • SRT Journal: Growing pains?

    The first of five essays compiled in SCI's inaugural SRT Journal investigates the momentum seen this...

    The US Fed’s FAQ on CLNs in September 2023 sparked anticipation that the floodgates would finally open for US bank CRT issuance, resulting in many new investors exploring the sector and an initial wave of transactions. The momentum subseque...

    4 November 2024     Free

• News

  • SCI CRT Awards: Newcomer of the Year

    Winner: EMX Partners

    (Re)insurer participation in SRT deals has historically been limited to unfunded and non-STS transactions. EMX Partners is SCI’s pick for Newcomer of the Year in this year’s CRT Awards for establishing a platform that combines (re...

    29 October 2024     Free

• News

  • SCI CRT Awards: Outstanding Contribution to SRT

    Winner: International Association of Credit Portfolio Managers (IACPM)

    The IACPM is SCI’s pick for the Outstanding Contribution to SRT award this year, for being uniquely the voice of the SRT industry. Not only does the association espouse a collaborative and consensus-driven approach to advocacy, its initiati...

    29 October 2024     Free

• News

  • SCI CRT Awards: Service Provider of the Year

    Winner: Credit Benchmark

    Adoption of Credit Benchmark as a service provider has steadily grown among the SRT community in the last year, with nearing 40 major SRT participants now utilising Consensus Credit Ratings and Analytics to improve their transactional, decision-suppo...

    28 October 2024     Free

• News

  • SCI CRT Awards: North American Law Firm of the Year

    Winner: Mayer Brown

    That Mayer Brown is the most active firm in the North American CRT market today is no surprise. While the uptick in the volume of CRT transactions in North America may be relatively new, Mayer Brown’s role in this market is historic and lon...

    28 October 2024     Free

• News

  • SCI CRT Awards: European Law Firm of the Year

    Winner: Clifford Chance

    In Europe, Clifford Chance continues to act for the originator bank as structuring and drafting counsel on the majority of CRT transactions in the market. It is in this role as structuring and drafting counsel that the firm has set the standard that...

    25 October 2024     Free

• News

  • SCI CRT Awards: North American Arranger of the Year

    Winner: BMO

    As last year’s North American Issuer of the Year, Bank of Montreal (BMO) has set a high bar for itself. Thanks to a series of key issuances across multiple SRT platforms, the bank has continued its impressive run this year. As such, with it...

    25 October 2024     Free

• News

  • SCI CRT Awards: European Arranger of the Year

    Winner: UniCredit

    UniCredit completed nine SRT transactions during the awards period, across four jurisdictions and five asset classes, referencing underlying portfolios totaling €13bn. For supporting eight clients, five of which were external, the bank is SC...

    24 October 2024     Free

• News

  • SCI CRT Awards: North American Issuer of the Year

    Winner: JPMorgan

    Project Appia, which JPMorgan closed on the final business day of 2023, represented perhaps the largest and most complex set of SRT transactions the market has yet seen. For its efforts in bringing this landmark deal to the market, JPMorgan is SCI&am...

    24 October 2024     Free

• News

  • SCI CRT Awards: European Issuer of the Year

    Winner: BNP Paribas

    BNP Paribas issued an eye-watering 12 SRT transactions referencing €26.3bn of exposures across six asset classes during the awards period, including via the launch of three new European programmes. For continuing to push the boundaries and e...

    23 October 2024     Free

• News

  • SCI CRT Awards: (Re)insurer of the Year

    Winner: RenaissanceRe

    Over the company’s 30-year history, RenaissanceRe has evolved from a property catastrophe reinsurer to a multiline, global reinsurer with access to the best casualty, specialty, credit and property risks. Last year, the company acquired Val...

    23 October 2024     Free

• News

  • SCI CRT Awards: Investor of the Year

    Winner: Magnetar

    The 2023/2024 awards year marks a period of transformative growth in the significant risk transfer (SRT) market. Amid a dynamic landscape characterised by new issuers, growth in the US SRT market and an influx of new investors, Magnetar distinguished...

    22 October 2024     Free

• News

  • SCI CRT Awards: Innovation of the Year

    Winner: Granular Portfolio Insurance Product

    The Granular Portfolio Insurance Product (GPIP) has won Innovation of the Year in this year’s SCI Capital Relief Trades Awards. This product is the first insurance structure of its kind and was developed by BNP Paribas (the bank), Liberty (...

    22 October 2024     Free

• News

  • SCI CRT Awards: ESG Transaction of the Year

    Winner: Lion 4

    The EIB Group and LBBW closed Lion 4 in September 2023, with the latter committing to channel €350m of freed-up capital into new financing for clean power projects. In recognition of its exceptional contribution to decarbonising the German e...

    21 October 2024     Free

• News

  • SCI CRT Awards: Emerging Markets Transaction of the Year

    Winner: Project Patagonia

    Project Patagonia has won Emerging Markets Transaction of the Year in this year’s SCI Capital Relief Trades Awards. This forward-looking transaction involves a pioneering approach in which a bank, a private investor and a multilateral devel...

    21 October 2024     Free

• News

  • SCI CRT Awards: North American Transaction of the Year

    Winner: Granville USD

    Upsized from US$5bn to US$9bn, Scotiabank’s Granville USD represented the largest-ever debut Canadian SRT - in terms of both portfolio size and notes sold – when it closed in July 2023. In recognition of this, and for optimising B...

    18 October 2024     Free

• News

  • SCI CRT Awards: European Transaction of the Year

    Winner: Fanes SRT 2023

    Sparkasse’s debut SRT trade, Fanes SRT 2023, is SCI’s pick for the European Transaction of the Year category in this year’s CRT Awards. Not only is the deal the first-ever Italian STS synthetic securitisation involving o...

    18 October 2024     Free

• News

  • CRT Awards shortlist revealed

    Gala dinner to close World Risk Sharing Week

    SCI has published the shortlist for this year's Capital Relief Trades Awards, which celebrate excellence and innovation across the global credit risk-sharing industry. Award winners will be revealed during a gala black-tie dinner held at the Royal In...

    20 August 2024     Free

• News

  • SCI Start the Week - 17 June 2024

    A review of SCI's latest content

    *SCI’s inaugural Emerging Europe SRT Seminar takes place in Warsaw tomorrow* Last week's news and analysisCIRT X 4 Fannie Mae completes fourth deal of the year Credit risk sharing: Raising the bar for ESG requirements - video...

    17 June 2024     Free

• News

  • SCI Start the Week - 10 June 2024

    A review of SCI's latest content

    Last week's news and analysis Data dynamics Investor interest in data centre ABS takes off Five-point plan EU securitisation reform package mooted ILS opportunity set revealed *SIGLO study *Aira inks heat pump ABS *Ambac...

    10 June 2024     Free

• News

  • SCI Start the Week - 3 June 2024

    A review of SCI's latest content

    Last week's news and analysis Italian NPL volumes hit three-year low Updates on NPL volume drop & release of final STS guidelines Job swaps weekly: WTW appoints experienced leader from SMBC People moves and key promotions in&...

    3 June 2024     Free

• News

  • SCI Start the Week - 20 May 2024

    A review of SCI's latest content

    *CRT Awards 2024*The submissions period for SCI’s 2024 Capital Relief Trades Awards closes on 31 May. Apply now to secure your chance to be recognised and celebrated by the SRT industry at a gala black-tie dinner at RIBA HQ! Please only...

    20 May 2024     Free

• News

  • SCI Start the Week - 13 May 2024

    A review of SCI's latest content

    *CRT Awards 2024*The submissions period for SCI’s 2024 Capital Relief Trades Awards closes on 31 May. Apply now to secure your chance to be recognised and celebrated by the SRT industry at a gala black-tie dinner at RIBA HQ! *Please only...

    13 May 2024     Free

• News

  • SCI Start the Week - 22 April 2024

    A review of SCI's latest content

    *CRT Awards 2024* The submissions period for SCI’s 2024 Capital Relief Trades Awards closes on 31 May. Apply now to secure your chance to be recognised and celebrated by the SRT industry at a gala black-tie dinner at RIBA HQ! Qualifying...

    22 April 2024     Free

• News

  • SCI Start the Week - 15 April 2024

    A review of SCI's latest content

    Tomorrow SCI’s ESG Leaders’ Securitisation Summit in London Last week's news and analysisBalancing act SRT Market Update Collectibles offered SFS debuts fine art programme Job swaps weekly: A&O Shearman promotes...

    15 April 2024     Free

• News

  • SCI Start the Week - 8 April 2024

    A review of SCI's latest content

    Last week's news and analysis AGL, Barclays ink cooperation agreement New private credit investment platform Blue Owl to form insurance solutions unit Kuvare purchased Directional correlations SRTx mirroring SRT market developments EAR...

    8 April 2024     Free

• Talking Point

  • Serious business

    ESG's evolving role in structured finance unpacked

    ESG is still a top priority within structured finance, despite competing concerns stemming from rising interest rates. Panellists at SCI’s ‘Unpacking ESG’ webinar last week affirmed the enduring importance of sustainabil...

    4 April 2024     Free

• News

  • Directional correlations

    SRTx mirroring SRT market developments

    SCI launched the SRTx (Significant Risk Transfer Index) 12 months ago with the aim of providing market participants more insight into the arcane world of SRT. The SRTx is a suite of indexes covering the EU and US regions, comprising a spread index th...

    2 April 2024     Free

• News

  • SCI Start the Week - 25 March 2024

    A review of SCI's latest content

    Last week's news and analysis Job swaps weekly: ARMOUR reveals successors to Gruber People moves and key promotions in securitisation Motor finance review sparks RWA optimisation Close Brothers plans plus updates on Enpal’s warehous...

    25 March 2024     Free

• News

  • SCI Start the Week - 18 March 2024

    A review of SCI's latest content

    Last week's news and analysis CLO strategic partnership inked Sagard partners with HalseyPoint, while Obra launches RE platform Constructive engagement What it takes to close a debut SRT trade Growth expectations Alastair Pickett, co-port...

    18 March 2024     Free

• Talking Point

  • Unlocking potential

    Embrace neurodiversity to drive success in securitisation

    Neurodiversity is gaining more recognition as a crucial component in the pursuit of gender diversity and inclusion in structured finance. This year’s theme of ‘inspiring inclusion’ for International Women’s Day...

    8 March 2024     Free

• News

  • SCI Start the Week - 4 March 2024

    A review of SCI's latest content

    Last week's news and analysis Bank bonanza GSIBs, super regionals and regionals to line up for SRT Barclays inks 'strategic' credit card sale Updates on UK bank’s US move, a low-LTV CRT and a Pretium investment Budding partnershi...

    4 March 2024     Free

• News

  • SCI Start the Week - 26 February 2024

    A review of SCI's latest content

    Last week's news and analysis Challenger firm Dentons looking to put SRT at the forefront CLO 'stress indicator' launched Plus updates on homogeneity rules and ETF conversions Getting ahead SRT Market Update Historic opportunity? MPL...

    26 February 2024     Free

• News

  • SCI Start the Week - 19 February 2024

    A review of SCI's latest content

    Last week's news and analysis Corporate flow SRT Market Update Job swaps weekly: Hogan Lovells adds dozens from Orrick People moves and key promotions in securitisation Judgement day Appeals court to rule on SEC's private funds proposals ...

    19 February 2024     Free

• News

  • SCI Start the Week - 12 February 2024

    A review of SCI's latest content

    Last week's news and analysis Break in the clouds 2024 investment opportunities eyed across Europe Capital velocity SRT market update Economic risk underestimated? RWA density study shows downward convergence FCA review spells uncertai...

    12 February 2024     Free

• News

  • SCI Start the Week - 5 February 2024

    A review of SCI's latest content

    Last week's news and analysis B note bonanza GSE CRT benefitting from 'bullish technical' Job swaps weekly: M&G lures new cio from Allianz GI People moves and key promotions in securitisation Mortgage modelling Agency MBS could 'e...

    5 February 2024     Free

• News

  • SCI Start the Week - 29 January 2024

    A review of SCI's latest content

    Last week's news and analysis Building momentum Chinese consumer ABS market tipped for growth GSEs get set for social MBS New iteration of social scores revealed Inside job Internal ESG assessments and SPOs favoured Job swaps weekly: D...

    29 January 2024     Free

• News

  • SCI Start the Week - 22 January 2024

    A review of SCI's latest content

    Last week's news and analysis Back in the game Citi sells SRT, more in the works, say sources Fed checks banks' homework CLN submission path is clearer, but Fed approval far from automatic Gathering momentum SRT market update Hanging i...

    22 January 2024     Free

• News

  • SCI Start the Week - 15 January 2024

    A review of SCI's latest content

    Last week's news and analysis Big buyers Five names said to take large bites of JPM SRT whopper BNPL boom Middle East consumer ABS set for expansion Competitive spirit 'Structural evolution' drives Oceanic auto ABS volumes Fed smiles o...

    15 January 2024     Free

• News

  • SCI Start the Week - 8 January 2024

    A review of SCI's latest content

    Last week's news and analysis Accretive process Wasif Kazi, structurer at UniCredit, forecasts continued growth in CEE SRT CIFC launches multi-strategy credit fund UCITS fund focused on fixed rate opportunities launched Job swaps weekly: G...

    8 January 2024     Free