SCI Start the Week - 5 June

SCI Start the Week - 5 June

Monday 5 June 2023 11:23 London/ 06.23 New York/ 19.23 Tokyo

A review of SCI's latest content

Last week's news and analysis
Counterparty risk hedged
Further details on JPM CRT revealed
Infrastructure CLO debuts
AIIB anchors emerging market pilot
Latest SRTx fixings released
Improved tone implied in June index values
Perfect storm?
SFR squeeze as costs rise and rents fall
Stage two boost
ECB highlights consumer and CRE risks
UK SME boost
British Business Bank boosts small business financing

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

Recent premium research to download
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.

US CRT thaw – April 2023
The recent Merchants Bank of Indiana deal could herald a thaw in the US capital relief trades market, as this Premium Content article outlines.

All of SCI’s premium content articles can be found here.

Call for submissions: SCI CRT Awards 2023
The submissions period is now open for the 2023 SCI CRT Awards, covering the global capital relief trades market and the US credit risk transfer market. Nominations should be received by 5 July and the winners will be announced at the London SCI Capital Relief Trades Seminar on 19 October. Pitches are invited for deals issued during the period 1 October 2022 to 30 June 2023.
For more information on the awards categories and submissions process, click here.

SCI In Conversation podcast
In the latest episode, Vesttoo co-founder and chief financial engineer Alon Lifshitz outlines how the insurance-linked securities landscape is evolving from catastrophe bonds to a wider range of structures, bringing insurance risk directly to the capital markets. He also discusses ILS modelling approaches, the involvement of rating agencies in the insurance risk transfer space and a new index project that is underway.The podcast can be accessed wherever you usually get your podcasts, including Apple Podcasts and Spotify (just search for ‘SCI In Conversation’), or by clicking here.

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 Ronald Adjekwei 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

SCI's 9th Annual Capital Relief Trades Seminar
19 October 2023, London