Issue 258 - 2nd November
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News Analysis
- RMBS
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Liquidity required
Muted impact expected for BoE loan-level data
UK RMBS issuers are on-track to meet the Bank of England's upcoming loan-level data requirements, but their efforts appear to be being met with investor apathy. At the same time, the initiative is seen as not doing enough to address the lack of liqui...
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- ABS
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Pole position
Auto deals set to continue US ABS domination
US auto loan securitisations in October totalled US$6bn and came on the back of strong September issuance of US$10bn. Considering the positive performance so far, analysts expect the ABS market to continue to be dominated by auto and other vehicle-re...
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- RMBS
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Market Reports
- CMBS
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US CMBS bounces back
The US CMBS market has been significantly buoyed by the latest eurozone debt talks. Spreads have tightened markedly and investors are talking about a return to higher yielding assets. "We have really seen a number of clients return to legacy assets...
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- RMBS
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RMBS 'risk on' after euro boost
The European secondary RMBS market has experienced renewed activity and optimism in the wake of Wednesday's eurozone crisis talks. The sector has returned to 'risk on' mode; however, the new-found confidence is still fragile and dependent upon the su...
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- CMBS
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News
- ABS
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SCI Start the Week - 31 October
A look at the major activity in structured finance over the past seven days
PipelineA CMBS (US$1.09bn WFRBS 2011-C5), a catastrophe bond (US$50m Successor X series 2011-3), a prime RMBS (A$480m Torrens Series 2011-2) and an SME CLO (€1.3bn IM Banco Popular FTPYME) remained in the pipeline at the end of last week. ...
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- ABS
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Job Swaps
- ABS
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US Bank eyes European growth
US Bank has completed the conversion process following its purchase of Bank of America's corporate t...
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SF partner moves on
Stephen Whelan has joined Blank Rome as a partner in the financial services group, based in New York...
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- CDO
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ABS CDO transferred
NIBC Credit Management has been replaced by Cairn Capital as the collateral manager of Belle Haven A...
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Replacement manager sought for GSC CDOs
Investors in the GSC European CDO I-R, II and GSC Leveraged Loan CLO deals have been advised that th...
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- CDS
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Primus buyback authorisation upped
The Board of Directors of Primus Guaranty has approved an increase of US$25m in its buyback authoris...
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Citi taps CDS clearing pro
Suzanne Hubble has joined Citi to help drive its OTC derivative clearing platform in the European ma...
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- CLOs
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Oak Hill management stake increases
An investor group composed of General Atlantic, Robert Bass and senior management has made an invest...
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- CMBS
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New CRE head confirmed
Jefferies has confirmed the appointment of Christian Janssen as md and head of commercial real estat...
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- RMBS
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RMBS servicing pro hired
Galton Capital Management has appointed Tim Lynch as head of servicing oversight, augmenting the fir...
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- ABS
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News Round-up
- ABS
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'Significant' improvement seen in charge-offs
US credit card charge-offs improved significantly in September, according to Moody's Credit Card Ind...
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Rise in FFELP prepays expected
The US government has announced changes to its student loan programme that will likely result in an...
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EFSF package unveiled
The banking package announced yesterday by EU policymakers will allow the EFSF to be leveraged up to...
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ABS parsing service minted
CMA has launched CMA ABSparsing, a new service that parses ABS auction and offering price runs recei...
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US auto ABS performance pressured
Seasonal pressures resulted in weaker delinquency and loss levels for US prime auto loan ABS last mo...
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Film deal in the works
Miramax Film NY says it intends to refinance its outstanding indebtedness with a film rights and con...
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Asia largely unscathed by crisis
Asia Pacific and Indian structured finance ratings have been largely unaffected by the global financ...
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Tobacco-backed trusts on negative watch
S&P has placed its ratings on 86 classes from 23 tobacco settlement-backed securitisations o...
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LatAm ABS fared well through crisis
Fitch reports that the global credit crisis has had minimal impact in Latin America when compared to...
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PPIF performance declines
Third-quarter PPIP data released by the US Treasury indicates weaker returns across all eight PPIFs....
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ABCP programmes merged
Falcon Asset Securitization Co has merged with Chariot Funding pursuant to a certificate of merger d...
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Sapient lands ED construction role
Sapient Global Markets has been mandated to construct the European Data Warehouse, the first Europea...
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- CDS
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Data repository application filed
The DTCC has filed a registration application with the US CFTC to operate a swaps data repository (S...
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New SEF on the cards
TeraExchange is preparing to launch central limit order books for OTC cleared derivatives. Featuring...
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ISDA updates on Greek CDS
ISDA has released an update, following recent events related to the restructuring of Greek sovereign...
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- CMBS
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Strong CMBS resolution success rate
Despite tremendous volume of underperforming US CMBS brought on by the credit crisis, special servic...
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US CMBS defaults reach 12.4%
Cumulative US CMBS defaults finished the third quarter at 12.4%, according to Fitch. Defaults throug...
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Maturity index decreases in October
Fitch's European CMBS Maturity Repayment Index deteriorated during October, decreasing to 37.2% from...
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CMBS failure to repay warning
Based on LTVs alone, 60% of European CMBS maturing loans could fail to repay by the end of 2012, acc...
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- Risk Management
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Risk management data integrated
TradingScreen has integrated Fitch Solutions' risk management data to TradeFI, its platform for acce...
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CVA portal launched
Quantifi has launched a free online information source for professionals active in counterparty risk...
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- RMBS
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Projected GSE draws revised down
The FHFA has updated its projections of possible future Treasury draws by Fannie Mae and Freddie Mac...
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DSB claims weigh on Chapel deals
The latest estimates of potential duty of care claims against DSB suggest that the impact on the Cha...
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Mortgages found to exceed Basel assumptions
Fitch says in a new report that the asset correlations assumed within the Basel 3 credit risk-weight...
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Greek subsidy delay threatens RMBS
Greek banks and RMBS transactions could lose interest payments because a Greek housing agency has de...
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- ABS
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