Issue 239 - 22nd June
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News Analysis
- Whole business securitisations
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Knockout results
Strong Punch performance as pubcos adapt to survive
Punch Taverns has released its performance figures for the 12 weeks to 28 May, which indicate that the core unit is now in growth. Meanwhile, other pub whole business securitisation sponsors are looking to branch out in a bid to turn their own perfor...
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- CDS
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Restructuring revisited
Greek CDS fears allayed
Fears that European regulators will attempt to restructure Greek debt without triggering CDS contracts appear to be overblown. While there has been speculation in the market that politicians were considering such a move, credit strategists stress tha...
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- ABS
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Trading up
Optimism seen in Euro secondary ABS, though challenges remain
Liquidity issues continue to dog the European secondary ABS market. While Markit's new iBoxx ABS indices may help (SCI 8 June), a broader range of investors also needs to get involved in the sector. "There is a real bifurcation in the market betwee...
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- Whole business securitisations
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News
- CMBS
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Fund's CMBS strategy pays off
Real Estate Credit Investments (RECI) - the permacap vehicle formerly known as Queens Walk Investments Limited - reports that its foray into real estate debt investment has proved successful, evidenced in part by seven consecutive...
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- RMBS
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Servicer purchase threatens RMBS cashflows
The change in servicing and advancing practices that will follow Ocwen Financial Corporation's purchase of Litton Loan Servicing may have a negative impact, according to Moody's. The agency has voiced concerns that payments will be diverted...
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- CMBS
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Job Swaps
- ABS
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Capital markets attorney hired
Womble Carlyle has announced the appointment of Don Keough to its Baltimore office. He will work clo...
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Asset finance team added
Clydesdale and Yorkshire Bank has expanded its corporate and structured finance services with the la...
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ABS syndicate beefs up
Kenneth Rosenberg has joined Barclays Capital's securitisation syndicate team, reporting to Brian Wi...
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- CDO
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JPMorgan settles Magnetar case
JPMorgan is to pay US$153.6m to settle SEC charges that it misled investors in the Squared CDO 2007-...
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GSC interim hearing scheduled
An interim hearing with respect to the GSC European CDO II, V and I-R transactions will be held on 2...
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- CDS
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Demand for CDS lawyers exceeds supply
The CDS industry is suffering from a lack of lawyers, according to a UK- and US-based recruitment co...
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- RMBS
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MIAC acquisition completed
Radian Asset Assurance has completed the acquisition of Municipal and Infrastructure Assurance Corpo...
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NCUA files first misrepresentation suits
The National Credit Union Administration has filed suits against JPMorgan and RBS, alleging violatio...
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- ABS
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News Round-up
- ABS
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Largest structured settlement ABS completed
JG Wentworth has completed a US$265m securitisation of payment rights under structured settlement an...
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New Aussie ABS product launched
Certegy Ezi-Pay, a division of Flexigroup, has announced a new AU$133m securitisation of Australian...
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Positive performance for Peruvian SF
Peruvian structured finance transactions are performing strongly, despite uncertainty caused by rece...
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Tight at the top of the securitisation table
At the end of May 2011, with US$105.3bn of qualifying deals counted, there's still little to separat...
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SFA proposal scrutinised
Fitch has commented on the recent proposal by the UK FSA to limit the use of the Supervisory Formula...
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- CDO
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'Minimal' Trups deferrals in May
Default and deferral activity in U.S Bank Trups CDOs was minimal during the month of May, according...
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Flag raised over CDO involuntary petition
Hildene Capital has filed a motion to dismiss an involuntary bankruptcy petition filed against the Z...
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- CDS
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AIB failure to pay determined
ISDA's EMEA Credit Derivatives Determinations Committee has resolved that a failure to pay credit ev...
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Sovereign correlation model offered
Moody's Analytics has released RiskFrontier 3.0, the latest version of its credit portfolio manageme...
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Trade-date CDS clearing platform launched
Intercontinental Exchange (ICE) has launched the Affirmed=Cleared (A=C) interdealer workflow on&...
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- Clearing
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OTC clearing execution agreement published
FIA and ISDA today announced the publication of the FIA-ISDA Cleared Derivatives Execution Agreement...
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- CMBS
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DQT slips in May
The delinquency rate on loans included in US conduit/fusion CMBS slipped by 4bp points in May to 9.1...
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German loans prominent in special servicing
101 loans remained in special servicing across EMEA CMBS large multi-borrower and single borrower tr...
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Delinquencies forecasted
S&P has tested the theory that servicer watchlist data for CMBS can be an indicator of futur...
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- Ratings
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Greek performance still sliding
Greek ABS and RMBS market performance continued to deteriorate in April, according to Moody's latest...
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- Regulation
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Rule establishes risk-based capital floor
The Federal Reserve Board, FDIC and Office of the Comptroller of the Currency have adopted a rule es...
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SEC provides swaps guidance
The US SEC has provided guidance on which Dodd-Frank Title VII requirements - establishing...
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- RMBS
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Foreign appetite for agency MBS drops
The latest US Treasury International Capital (TIC) flows data indicates that overseas holdings of ag...
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Second Walter deal prints
Walter Investment Management has closed its second privately placed RMBS of the year (SCI 1 June) &a...
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- ABS
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