Issue 240 - 29th June
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News Analysis
- ABS
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Motoring on
New issue diversification reflects growing confidence
The European auto ABS sector has made great strides over the last year, driven by strong performance and a broadening out of the market. But diversification into other asset classes is expected going forward, as confidence in securitisation continues...
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- Regulation
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Slow progress
Market recovery hampered by regulatory uncertainty
Regulatory concerns continue to weigh heavily on the securitisation market. Although activity is picking up month by month, a full recovery is unlikely until more detail on a number of regulations is fleshed out. Regulation is the main stumbling bl...
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- CDS
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Lessons learnt
A closer look at the CDS industry's response to Dodd-Frank
Since the Dodd-Frank Act was signed into law last year, the CDS industry has been asked to undergo a significant transformation in a short timeframe, the likes of which have taken many years in other sectors. But, while operational challenges and reg...
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- ABS
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Job Swaps
- ABS
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Asset finance reorg completed
Credit Suisse has reorganised its asset finance management team in New York and London. The move fol...
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ABS salesman added
Jason O'Brien is set to join Credit Suisse in mid-July as a UK ABS salesman. He will report...
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Key SF appointments made
BNP Paribas has announced key appointments within its structured finance business line. Andrew Sha...
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SF partner recruited
DLA Piper has appointed Michael Macaluso as a partner in its finance practice. Macaluso joins from M...
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Distressed fund formed
Northlight Financial has formed a limited partnership, under the Northlight brand, that will provide...
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Risk Institute looks to the US
Renowned ABS author Frank Fabozzi is set to join EDHEC-Risk Institute on 1 August, as part of its No...
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Esoteric ABS team recruited
KGS-Alpha has recruited Fouad Onbargi, Richard Barry, Jason Muncy and Will Simonton from Aladdin Cap...
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Credit trading head named
BNP Paribas has promoted Benjamin Jacquard to global head of credit trading. He will be based in Lon...
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Capital injection for StormHarbour Japan
Asuka DBJ Partners, a private investment firm that is a joint venture between Development Bank of Ja...
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- CDS
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CDPC portfolio information revealed
Primus Financial Products has released details of its credit derivatives portfolio. As of 21 June, t...
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Asset manager beefs up in credit
AXA Investment Managers has appointed James Gledhill as global head of high yield and deputy head of...
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- CMBS
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Barclays Capital expands in CMBS
Barclays Capital has hired Larry Kravetz and Spencer Kagan to expand the firm's activities in CMBS o...
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- RMBS
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Subprime fraud charges settled
Morgan Keegan & Company and Morgan Asset Management have agreed to pay US$200m to settle fra...
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Policyholder group wins appeal
The New York State Court of Appeals in Albany has reinstated the bank policyholder group's US$5bn fr...
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- ABS
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News Round-up
- ABS
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Positive trend continues for cards
Moody's reports that both US credit card charge-off and delinquency rates improved yet again in May,...
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ABCP op risk RFC issued
Moody's has issued a request for comment regarding a proposed update to its operational risk guideli...
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Law firm expands litigation group
Bingham has expanded its securities and financial institutions litigation group in London with the a...
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ABS-focused fund launched
Angel Oak Capital Advisors has launched the Angel Oak Multi Strategy Income Fund, which seeks to ach...
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Counterparty criteria updated
S&P has updated its criteria for counterparty and supporting obligations by providing a fram...
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- CDO
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SF CDOs on upgrade review
Moody's has placed 98 tranches of US and European structured finance (SF) CDOs with material exposur...
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- CDS
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AIB auction scheduled
The auction to settle the credit derivative trades for Allied Irish Banks CDS is to be held on 30 Ju...
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Collateral optimisation service offered
Calypso Technology says it has developed an innovative collateral optimisation solution specifically...
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Collateral management service prepped
Lombard Risk Management has announced two key business appointments. The move comes as the firm prep...
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- CLOs
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Moody's CLO criteria changes finalised
Moody's has finalised changes to its global methodology for rating cashflow CLOs (SCI passim). The c...
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- CMBS
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Fitch to update multiborrower criteria
Fitch ratings says that it will be releasing an update to its criteria report for analysing multibor...
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German MFH balloon risk remains
Fitch says in a new report that balloon risk remains a key concern for the largest German multifamil...
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- RMBS
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Revised fails charge recommendations issued
The US Treasury Market Practices Group (TMPG) has published revised fails charge recommendations for...
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Mortgage REIT index launched
Pine River Capital Management has launched the Pine River Mortgage REIT Index. The index aims to pro...
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Graphite tender offer launched
Northern Rock has launched a tender offer for eight tranches of Graphite Mortgages series 2006-1. Th...
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- ABS
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