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Issue 274 - 29th February

  • News Analysis

    • Risk Management
      • Taking a view

        The evolution of CVA discussed

        Representatives from SunGard and Navigant Capital Advisors recently came together to discuss current themes related to CVA and counterparty risk in a live webinar, hosted by SCI (view the webinar here). Topics included the implementation of relevant...

    • Structured Finance
      • Momentum builds

        Asian issuers look to emulate Aussie covered bond success

        Momentum in the Asia-Pacific covered bond sector is building. While the implementation of new legislation in Australia has triggered significant issuance from that jurisdiction, activity in South Korea and Singapore is expected to materialise within...

      • Liquidity issues

        Steps taken to address LCR requirements

        The securitisation industry remains hopeful that highly rated ABS will ultimately be eligible under the Basel 3 liquidity coverage ratio (LCR). In the meantime, steps are being taken to address the treatment under the LCR of unused bank commitments t...

    • CDS
      • CACs in play?

        CDS market 'perks up' ahead of Greek bond exchange

        Low participation rates in the forthcoming Greek government bond exchange are expected to bring collective action clauses (CACs) into play, thus triggering CDS contracts on the sovereign (see also SCI 26 January). However, the impact on the market is...

    • RMBS
      • 'Blueprint' trials

        Countrywide settlement moves closer

        Bank of America's US$8.5bn Countrywide RMBS settlement case has returned from federal court to New York state court, likely hastening its approval. A resolution of the settlement is expected to provide a blueprint for similar cases against other larg...

  • Market Reports

    • CMBS
      • Euro CMBS trading up

        The European secondary CMBS market has been trading up recently. Investor demand is particularly focused on the top of the capital structure, although not necessarily only for top-quality deals, while BWIC activity has also been strong. "There has...

  • News

    • Structured Finance
      • SCI Start the Week - 27 February

        A look at the major activity in structured finance over the past seven days

        Pipeline Another busy week for the pipeline saw a variety of new deals remaining on Friday. Barclays is in the market with Gracechurch Card Programme Funding 2012-1 and 2012-2, which are sized at £750m-equivalent and €300m respect...

    • RMBS
      • GSE strategic plan disappoints

        FHFA acting director Edward DeMarco yesterday sent Congress a strategic plan for the next phase of the conservatorships of Fannie Mae and Freddie Mac. However, it appears not to be the concrete plan of action that some were hoping for. The FHFA pla...

  • Job Swaps

    • Structured Finance
      • Indian firm names SF md

        Violet Arch Capital Advisors has appointed Ravi Agarwal as structured finance md. Agarwal joins the...

  • News Round-up

      • East Lane Re V marketing

        The fifth catastrophe bond from Chubb's East Lane programme has begun marketing. The four-year two t...

      • Queen Street V closes

        Munich Re's latest catastrophe bond Queen Street V Re (SCI 10 February) has closed. The US$75m deal...

    • Structured Finance
      • IO ratings hit

        Following its introduction of a global methodology for rating structured finance interest-only secur...

      • CIR methodology released

        Moody's has published its methodology for counterparty instrument ratings (CIRs), after releasing a...

      • Eastman Kodak results in

        The final price of Eastman Kodak Co CDS was determined to be 23.875 at yesterday's auction. 13 deale...

      • UPC extension confirmed

        UPC Holding, the largest single obligor in the CLO universe, has confirmed its TLS debt extension (S...

      • Loan transfer disputed

        Hatfield Philips, the original special servicer on DECO 8 - UK Conduit 2, has disputed the transfer...

    • RMBS
      • Busted swap claim agreed

        ESAIL 2007-PR1 class A noteholders have approved an extraordinary resolution in a meeting held on 17...

      • ML II wound down

        The remaining securities in the Maiden Lane II portfolio have been sold. The New York Fed's manageme...

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