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Issue 290 - 20th June

  • News Analysis

    • CDS

      • In the mire?

        Clearing complexity sees CDS reform deadlines slip

        Evolution in the CDS industry is taking longer than many participants expected. Some blame the market's opacity, but the implementation of new rules is also being delayed by the complexity of clearing requirements. Speculation is rising that the Eu...

  • News

    • Structured Finance

      • SCI Start the Week - 18 June

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

        Pipeline Several deals came and went last week for the pipeline. Come Friday evening, the only two remaining new arrivals were a US$1.24bn CMBS (JPMCC 2012-CIBX) and a US$219.9m FFELP student loans ABS (Scholar Funding Trust 2012-A). PricingsIt wa...

    • CLOs

      • Par building benefits outlined

        CLO strategists at RBS have introduced a 'change in par' calculation, which measures the change in the par value of CLO assets - including cash - since inception. They believe it offers more of a like-for-like comparison than over...

    • CMBS

      • Larken B-note hope

        The US$172m Larken Portfolio loan, securitised in LBCMT 2007-C3, has been modified. The loan transitioned to special servicing in May 2009, after NCF DSCRs slipped below 1x and occupancy declined to 86%. The default was not entirely unexpected, acc...

    • RMBS

      • Tamweel sukuk marketing

        Tamweel is in the market with its second international Islamic RMBS - the US$235m Tamweel Residential RMBS (Cayman) IV. The first such transaction from the six countries of the Gulf Cooperative Council was issued in July 2007. The deal co...

  • The Structured Credit Interview

    • Insurance-linked securities

      • Diversification benefits

        John Wells, chairman at Leadenhall Capital Partners, answers SCI's questions

        Q: How and when did Leadenhall Capital Partners become involved in the insurance-linked securities (ILS) market? A: Leadenhall Capital Partners was established in May 2008, when Luca Albertini and I formed an investment management partnership with A...

  • Job Swaps

    • ABS

      • PCS Secretariat head named

        Ian Bell has been named as the head of the PCS Secretariat, the PCS division responsible for day-to-...

      • PM joins credit fund

        Keith Williams has joined Crestline Investors as md and senior portfolio manager. He will be respons...

    • CDS
    • RMBS

      • MBS, rates team expanded

        Zachary Pace, Aaron Read and Tai Vu have joined Gleacher & Company Securities' MBS and rates...

  • News Round-up

    • Structured Finance

      • FGIC seeks rehabilitation

        Benjamin Lawsky, superintendent of the New York State Department of Financial Services, has filed a...

      • Maiden Lane loans repaid

        The New York Fed says that its loans to the Maiden Lane and Maiden Lane III vehicles have been fully...

      • APAC ratings remain stable

        Fitch reports that Asia-Pacific (APAC) structured finance (SF) tranches remain largely stable, with...

    • CDO

      • CRE CDO delinquencies dip

        Loan resolutions exceeded new US CRE CDO delinquencies over the past month, resulting in a net decli...

      • Altius CDOs sold

        Bank of America Merrill Lynch has emerged as the winning bidder for the US$1.1bn of Altius I Funding...

      • Two more ML3 sales due

        The New York Fed has scheduled two further Maiden Lane III auctions for this month. The first will...

    • CMBS

      • CMBX delinquencies rising

        Delinquencies continue to rise in the 2007 vintage CMBX.4 index, driven by a raft of loans that fail...

    • Risk Management

      • iBoxx TRS offered

        Markit has made a number of global iBoxx corporate indices available for trading in a standardised t...


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