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Issue 291 - 27th June

  • News Analysis

    • CDS
      • Write-down resolution?

        Bail-in concerns add impetus to CDS overhaul

        The European Commission earlier this month finalised its proposed bank recovery and resolution directive, reigniting concerns in the CDS market that forced write-downs may negate the application of the restructuring credit event to senior bank debt (...

    • Structured Finance
      • Picking sides

        Challenges and opportunities in search for relative value

        Ongoing speculation about the future of Greece has dominated the market's attention, but it is not the only concern weighing on participants' minds. Nevertheless, European ABS still offers great value for those who know where to look. "We are at a...

      • Mixed blessings

        Action needed to attract European investors

        Some ABS traders in Europe are expecting to use their balance sheets more over the coming months to support clients. While the rise of BWICs is aiding execution for sellers, more needs to be done to attract a broader investor base to the market. In...

  • Market Reports

    • CMBS
      • Euro CMBS sees spread recovery

        After softening earlier in the month, the European CMBS market has recovered over the last week. The Global ABS conference seems to have marked a turning point, but events in the RMBS market also appear to be having an effect. "Activity has definit...

  • News

    • Structured Finance
      • SCI Start the Week - 25 June

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

        Pipeline Three RMBS deals remained in the pipeline at the end of last week - the $235m Tamweel Residential RMBS (Cayman) IV, $272m Sequoia Mortgage Trust 2012-3 and €848.3m Dutch Mortgage Portfolio Loans X. They were joined by tw...

    • CMBS
      • REC 6 test case on the cards

        Pearsanta, the junior lender in the Alburn Real Estate Capital (REC 6), has begun High Court proceedings to confirm the appointment of Solutus Advisors as special servicer on the deal. In what is believed to be a first for the European CMBS market, t...

      • CMBS SSFA calculations recommended

        Different interpretations of simplified supervisory formula approach (SSFA) inputs under the Fed's market risk rule could result in significant variation in capital requirements (SCI 11 June). CMBS strategists at RBS have consequently put forward rec...

  • Job Swaps

    • CMBS
      • CMBS partner scooped

        Schulte Roth & Zabel has expanded its real estate practice with the addition of a CMBS lawye...

      • CREFC president named

        Paul Vanderslice has been elected president of CRE Finance Council (CREFC) for the 2012-2013 term. V...

  • News Round-up

    • Structured Finance
      • ML 3 auction results in

        The winning bidders for yesterday's Maiden Lane III CDO sale have been announced (SCI 19 June). Cred...

    • CDS
      • EMIR consultation launched

        ESMA has launched a consultation on its technical standards under EMIR. The measures are designed to...

      • Stable outlook for IG CMBS

        Fitch's loss expectations for 2006-2008 vintage US CMBS transactions vary greatly by deal, the agenc...

      • CMBS loan events updated

        12 new loan events have been added to the SCI CMBS loan events database today. These include: 18...

    • RMBS
      • Operation Twist extended

        Operation Twist is set to last through to year-end, having been slated to end this month (SCI 22 Sep...

      • QRM concern highlighted

        Fitch believes that continued uncertainty relating to aspects of the Dodd-Frank Act has caused many...

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