Issue 266 - 4th January
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News Analysis
- Structured Finance
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Blown off-course
Sovereign crisis, regulatory pressures weighing on Euro ABS
The European securitisation market began 2011 on a reasonably positive footing, with strong issuance and plenty of liquidity. But the European sovereign debt crisis knocked this burgeoning recovery off-course and remains - together with reg...
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- CMBS
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Keep on keeping on
Cautious outlook for the global CMBS and CRE markets in 2012
At best, expectations for the US CMBS and CRE markets in 2012 are for more of the same - there appears to be little hope for a sudden upsurge in activity next year. However, there are some pockets of positivity and ultimately, it is argued,...
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- Structured Finance
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Forging ahead
US ABS continuing to battle headwinds
The US ABS market continued its post-crisis recovery in 2011, achieving decent issuance despite some battering headwinds. Those same headwinds are expected to impact the market again in 2012, although issuance and performance should both remain stron...
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- CDS
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Facing a watershed
Challenges remain as CDS market prepares for central clearing
Next year is shaping up to be a watershed for credit derivatives in terms of regulatory change. But the market continues to face a number of challenges, not least of which is finalising the framework for central clearing. "2012 will be a watershed...
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- Structured Finance
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Expanding opportunities
Growth continues in APAC securitisation markets
Asia-Pacific structured finance has enjoyed a good year in 2011 and is expected to see even more activity in 2012. Despite a number of challenges, issuance and performance in mainland Asia, Japan and Australia continues to be robust. Warren Lee, gl...
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- Structured Finance
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Job Swaps
- ABS
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CoActiv appoints credit svp
CoActiv Capital Partners has promoted Robert Levitsky to credit and risk management svp. Levitsky wi...
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- Structured Finance
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FIG ceo takes leave
Daniel Mudd is taking a leave of absence from his role as Fortress Investment Group ceo. Randal Nard...
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Law firm names SF head
Reed Smith has appointed Tamara Box as head of structured finance. Previously head of international...
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CRE lawyer hired
Krieg DeVault has appointed Ross Taylor as of counsel in its commercial and real estate lending prac...
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Tech firm recruits Euro md
Jamie Harper has joined Vichara Technologies as European business development md. He is based in Lon...
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- CLOs
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CLO manager resigns
Nomura Corporate Research and Asset Management has given notice of its resignation as investment man...
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- CMBS
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CRE advisory hires for DCM
American Realty Capital (ARC) has hired Andrew Winer to lead a number of the firm's strategic debt i...
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- RMBS
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Brazilian bank buys securitisation firm
Banco PanAmericano, a division of BTG Pactual, is to purchase Brazilian Finance and Real Estate (BFR...
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RMBS trader joins Stifel
RMBS trader Eric Daouphars has joined Stifel Nicolaus. He was most recently md at Citadel Securities...
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Bank's RMBS rap from regulator
FINRA has fined Barclays Capital US$3m for misrepresenting delinquency data in connection with subpr...
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- ABS
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News Round-up
- ABS
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Stable auto ABS performance predicted
With small declines in both delinquencies and losses in November, stable asset performance for US au...
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Card charge-offs increase
US credit card charge-offs increased by 17bp in November to 5.38%, according to Moody's latest credi...
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Vecta 1 closes
Vecta 1, Aurigen Reinsurance's embedded value life securitisation (SCI 19 December 2011), has closed...
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- Structured Finance
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Volcker Rule comment period extended
The comment period on the proposed Volcker Rule (SCI passim) has been extended by a month until 13 F...
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Stable outlook for LatAm SF
Fitch's credit outlook for Latin American structured finance (SF) transactions in 2012 is stable. Th...
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Sovereign-linked deals on review
Fitch has placed 40 tranches of 23 Irish, Italian and Spanish structured finance (SF) transactions o...
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- CDO
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Marginal rise in Trup default, deferral rate
New deferrals for US bank Trups CDOs declined again this past month while defaults rose slightly, le...
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ABS CDO tender announced
Faxtor ABS 2005-1 class A1 noteholders have been invited to tender their notes for purchase for cash...
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- CDS
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ISDA OTC stats released
ISDA has published its analysis of the OTC derivatives market based on 30 June statistics. They show...
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- CMBS
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Euro CMBS loan warnings issued
According to the latest European CMBS monthly bulletins from S&P and Fitch, January is going...
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- RMBS
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PEARL RMBS restructured
SNS Bank has restructured PEARL Mortgage Backed Securities 1, 2 and 3, following the update to Fitch...
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AG servicing settlement nears
It appears that the state attorneys general and the five largest mortgage servicers - Bank...
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Second-lien RMBS criteria reviewed
S&P has issued an advance notice of proposed criteria change regarding its methodologies and...
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US resi outlook assumptions updated
S&P has updated its outlook assumptions for the US residential mortgage market, which will a...
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Chapel deals downgraded
S&P has lowered and removed from credit watch negative its credit ratings on all classes of...
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Servicer compensation proposals slammed
SIFMA has filed a comment letter on the FHFA's Alternative Mortgage Servicing Compensation Discussio...
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FSA proposals credit negative for NC RMBS
Moody's says that the UK FSA's revised proposals for tighter rules on mortgage lending will be credi...
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Updated LMI criteria hits
Fitch has downgraded the ratings of 46 tranches of 43 Australian RMBS transactions, following the im...
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- ABS
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