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Issue 206 - 27th October

  • News Analysis

    • CMBS
      • Liquidation line

        Public sales proving positive for US CMBS market

        US CMBS liquidation volumes via public sales average almost US$200m a month and are expected to remain elevated as unprecedented amounts of distressed assets are worked through. All of the major special servicers are selling into these auctions, with...

    • ABS
      • Consolidating positions

        Firms forced into consolidation as tough times take toll

        Advisories and broker-dealers in the ABS space are having to adjust to the challenges of operating in a market with reduced liquidity and low trading volumes. The halcyon days of a couple of years back have passed, leaving a great many entities chasi...

  • Market Reports

    • RMBS
      • Put-back potential boosts US RMBS

        Highly priced assets, together with the current focus on the mortgage foreclosure scandal are driving forces in the US RMBS market this week. "There has been a lot of noise in the market this week," one RMBS trader notes. This, he says, is due to t...

      • RMS negative coupons cause a stir

        Traders in the European RMBS market have been focused on the primary market over the past few days, with the emergence - via RMS 25 - of what is believed to be the first-ever negative coupons on retained tranches. At the same time...

  • News

    • CDS
      • CDS real-time reporting standards floated

        Javelin Capital Markets has written an open letter on the ongoing US SEC and CFTC discussion about block trading and real-time swaps reporting. The electronic trading venue stresses the need to enforce Dodd-Frank's requirement for reporting interest...

    • Insurance-linked securities
      • First thunder cat bond marketing

        Mariah Re, the first-ever catastrophe bond to solely cover severe thunderstorm risk, is being marketed by Aon Benfield on behalf of American Family Mutual Insurance. The US peril-focused single-tranche US$100m three-year deal has been given a prelimi...

    • Investors
      • Capital efficient mezz fund marketing

        Prytania Investment Advisors, in collaboration with Austrian firm Kuperstein, is prepping a fund designed to help financial institutions hold assets in a more capital efficient way under the new regulatory rules to come, such as Basel 3 and Solvency...

  • Talking Point

    • CDS
      • Valuators prepare for regulatory measures ahead

        A panel discussion hosted by Interactive Data last week examined the findings of a new A-Team Group survey, 'Valuations in European Buy-Side Institutions'. The survey focused on valuation issues across the OTC derivatives market and how valuations wi...

  • Provider Profile

    • CDS
      • Countering risk

        Frank Iacono, partner at Riverside Risk Advisors, answers SCI's questions

        Q: How and when did Riverside Risk Advisors become involved in the structured finance markets? A: Although we formally announced our launch recently (see SCI issue 204), we have been quietly doing this business for about a year. There are several si...

  • Job Swaps

      • Bank adds sales director

        Lloyds Bank has appointed Maureen Osborne as director in its capital market sales group. Covering th...

    • CLOs
      • Permacap merger proposed

        The boards of Greenwich Loan Income Fund (GLIF) and Asset Management Investment Company (AMIC) are i...

      • Real estate vet recruited

        RoundPoint Financial Group has named Steve Bashmakov as its new chief financial officer. Bashmakov w...

  • News Round-up

    • CLOs
      • HY CLO retranched

        Carlyle High Yield Partners VII class A-2-A notes have been retranched and renamed Metropolis II ser...

      • CLO revolver assumed

        Ownership of the class A-1LV revolver notes (current balance of US$68.2m) of MAC Capital, a multicur...

    • SIVs
      • SIV ratings withdrawn

        S&P has withdrawn its issuer credit rating on Beta Finance, as well as the ratings on the SI...

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