Weekly Issue Archive »

Issue 289 - 13th June

  • News Analysis

    • CDO
      • Retrenchment rules

        CDO technology harnessed for funding purposes

        A profound shift in how large cap credit is provided in Europe is underway, having historically been dominated by banks. While the trend is helping to suppress traditional CLO issuance for now, CDO technology more broadly is still being harnessed for...

    • Structured Finance
      • Proactive participants

        Trustees are embracing a more hands-on approach to issues from documentation to noteholder communica...

        The trustee's role in the European securitisation market continues to evolve as lessons are learnt from the fallout of the financial crisis. Issues with documentation and bondholder communications continue to provide challenges, but there are opportu...

  • News

    • Structured Finance
      • SCI Start the Week - 11 June

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

        PipelineA handful of new deals entered the pipeline last week. The only such European transaction is €1.4bn BBVA RMBS 11 FTA, but it was joined by a US$1.24bn CMBS from Freddie Mac (FREMF 2012-K709), a US$511.96m CLO (Gramercy Park CLO), a...

      • Market risk rule welcomed

        The US Federal Reserve's final market risk capital rule (SCI 8 June) has generally been welcomed for reflecting industry feedback, albeit some concerns remain. Crucially, the final rule modifies the simplified supervisory formula approach (SSFA) by r...

  • Talking Point

    • Structured Finance
      • Dealing with data

        The operational challenges facing investors in an increasingly data-rich world

        For years, structured credit and ABS investors have struggled to get access to comprehensive data for the assets in their portfolios. Now, driven by regulatory initiatives in Europe, the UK and US, there is far greater transparency of data on securit...

  • The Structured Credit Interview

    • CMBS
      • One-stop shop

        Christian Bearman, coo at Valad Europe, answers SCI's questions

        Q: How and when did Valad Europe become involved in CMBS workouts? A: Originally founded in the 1960s, Valad Europe has grown through the acquisition of a number of local businesses in different regions to create one of the largest fully integrated...

  • Job Swaps

    • ABS
    • Structured Finance
    • CDO
    • CMBS
      • SEC issues CMBS fine

        The US SEC has charged OppenheimerFunds and its sales and distribution arm with making misleading st...

  • News Round-up

      • SLABS trusts hit

        Fitch has taken various actions on 10 FFELP student loan ABS trusts that are currently on rating wat...

    • CDO
      • ABS CDO auction due

        Dock Street Capital Management has been retained to act as liquidation agent for Orchid Structured F...

      • Psion CDO tender announced

        DEPFA Bank has launched a tender offer to purchase, for cash, Psion Synthetic CDO I notes via open-m...

    • CLOs
      • SME funding gap emerging

        Fitch notes in its latest European SME CLO Performance Tracker that the reduction in bank lending ha...

    • CMBS
      • Loan pay-offs plummet

        The percentage of US CMBS loans paying off on their balloon date plummeted to the lowest level since...

      • CMBS stress tested

        Triple-A rated US CMBS classes generally would be able to withstand a hypothetical severe recession...

      • MILAN methodology updated

        Moody's has published updated assumptions and methodology used in its MILAN RMBS collateral analysis...

      • AG interventions granted

        New York state judge Justice Barbara Kapnick has granted a motion by the Attorneys General of New Yo...

      • Ambac motions approved

        Following a hearing held on 4 June, the Circuit Court for Dane County, Wisconsin approved the two mo...

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