Weekly Issue Archive »

Issue 341 - 19th June

  • News Analysis

    • Structured Finance

      • Emerging market

        Russian RMBS, ABS issuance gathering pace

        Russian RMBS issuance volume is expected to reach RUB50bn-RUB60bn this year, versus a total of RUB37bn in 2012, boosted by government purchase programmes. Demand is also emerging for consumer ABS, facilitated by the introduction of a new securitisati...

      • Moving on?

        The re-emergence of the European CLO market has many positive aspects, but corporate trust service p...

        The evolving European securitisation market has seen several changes since the crisis, with many positive developments, particularly recently. However, certain issues still need to be resolved and - with the market improving - con...

  • Market Reports

    • Structured Finance

      • 'Something for everyone' in large liquidation list

        The liquidation of almost €300m of bonds following an investor pulling out of a large ABS fund resulted in a 152 line BWIC being offered to the market earlier this week. The large, varied list traded well, although levels were a little weak...

  • News

    • Structured Finance

      • SCI Start the Week - 17 June

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

        Pipeline Many of the deals which joined the pipeline last week priced soon afterwards but a handful still remained when the weekend rolled around. This included two ABS, one ILS, one RMBS and three CMBS. The ABS were US$304.72m Massachusetts Educa...

    • CDS

      • Credit index futures debut

        The first of ICE's planned credit index futures contracts - the Markit CDX Investment Grade When Issued Future - began trading on 17 June. The relative simplicity of the contract is expected to appeal to investors that are not set...

    • CMBS

      • CMBS bonds lose repo-eligibility

        Stricter loan-level requirements have come into force for European CMBS looking to retain ECB repo-eligibility. CMBS bonds are now mostly absent from the list of repo-eligible securities, with possible negative pricing implications. The ECB is curr...

  • Job Swaps

    • Insurance-linked securities

      • ILS business assumed

        Twelve Capital is set to assume the investment management function of Falcon Private Bank's ILS busi...

  • News Round-up

      • AA plans WBS

        The UK Automobile Association (AA) is prepping a whole business securitisation dubbed AA Bond Co. Pr...

      • CRA rules set

        New EU credit rating agency rules enter into force tomorrow (20 June). The aim is to increase rating...

    • CDO

      • CRE CDO late-pays fall

        US CRE CDO delinquencies fell from 13.2% to 12.7% last month, according to the latest index results...

      • CBD recoveries diverge

        The recovery in midtown Manhattan office prices has been much stronger post-financial crisis than in...

      • CMBS pay-offs drop

        The percentage of US CMBS loans paying off on their balloon date registered 59.5% in May, according...

    • Risk Management

  • Research Notes

    • Risk Management

      • Counterparty credit risk uncovered - part four

        Terri Duhon, managing partner at B&B Structured Finance and author of 'How the Trading Floor Rea...

        Counterparty credit risk is a dynamic and complex risk that needs to be managed daily - not only because it changes as new trades are done with counterparties new and old every day, but also because it changes with market moves. In order to...


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