Weekly Issue Archive »

Issue 362 - 13th November

• Market Reports

  • RMBS

    • US RMBS BWIC supply stays strong

      US non-agency RMBS BWIC volume approached US$850m in yesterday's session, with SCI's PriceABS data recording a number of covers. There were fewer ARM tranches than in the previous session, although Alt-A and subprime collateral was well represented. ...

  • • Euro RMBS activity picking up

      Activity has picked up in the European RMBS market. Primary issuance is being well received while BWICs circulating in the secondary market are also meeting with good execution. "A strong growth area has been in UK mezzanine non-conforming RMBS whe...

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• News

  • Structured Finance

    • SCI Start the Week - 11 November

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

      Pipeline The pace of deals joining and exiting the pipeline last week was brisk. After a particularly busy five days, the week ended with 12 new ABS, four new RMBS, four new CMBS and four new CLOs remaining. Among the North American ABS to be anno...

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• Job Swaps

  • ABS

    • ABS leader brought in

      Guggenheim Securities has appointed Cory Wishengrad as a senior md to focus on developing the firm's...

  • Structured Finance

    • Aviation specialist jets in to London office

      DLA Piper has appointed Tony Lopez as a structured finance partner, based in London. He previously w...

  • • Distressed pair join credit team

      Cantor Fitzgerald has added Jose Contreras and David Coffey to its credit fixed income sales and tra...

  • • Partner joins London law firm

      Sullivan & Worcester has appointed Simon Cook as a partner in London. He will focus on struc...

  • CDS

    • Final confirmation for merger

      IntercontinentalExchange now has all regulatory approvals needed to complete its acquisition of NYSE...

  • CLOs

    • CLO chief moves on

      Florian Bita has joined RBC Capital Markets in New York as a trader, specialising in CDOs and CLOs....

  • CMBS

    • Islamic bank hires for European push

      Gatehouse Bank has appointed Natale Giostra as evp and head of real estate finance. He will be based...

  • • CMBS lending JV formed

      Walker & Dunlop has entered into a joint venture with an affiliate of a fund managed by Fort...

  • Risk Management

    • ICAP, IDC in OTC partnership

      ICAP and Interactive Data have announced a collaboration between the firms for OTC data distribution...

  • RMBS

    • RBS settles subprime RMBS charge

      The US SEC has charged RBS Securities with misleading investors in a 2007 subprime RMBS offering. RB...

  • • Southwest adds RMBS pro

      Southwest Securities has added Martin Baxter as svp in its RMBS sales group. He brings more than 25...

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• News Round-up

  • ABS

    • Ratings withdrawn on equipment ABS

      Moody's has downgraded and withdrawn its provisional ratings of four classes of notes to be issued b...

  • • UK credit card improvement continues

      UK credit card ABS performance in the third quarter was the strongest since 2008-2009, says Fitch. C...

  • • Aussie ABS index rolled out

      Fitch has published its first Australian Dinkum ABS Index report. The index is designed to enable in...

  • • AIFMD exemption clarified

      The Central Bank of Ireland has published a clarification of the exemption for securitisation vehicl...

  • • Solar ABS debuts

      SolarCity Corp's inaugural solar securitisation has hit the market via Credit Suisse. Rated triple-B...

  • • SLABS ARS repurchased

      Approximately US$10.95m of outstanding auction rate securities (ARS) have been repurchased and cance...

  • Structured Finance

    • Italian project bonds gaining traction?

      Legislation introduced last year by the Italian government could see the use of bond financing for i...

  • • Swap linkage approach finalised

      Moody's has updated its approach to assessing the rating impact of swap counterparties in structured...

  • • APRA plots securitisation overhaul

      The Australian Prudential Regulation Authority (APRA) plans to reform its securitisation rules by 20...

  • • Hedge fund returns rising

      Hedge fund returns rose by an average of 1.5% in October, according to eVestment. The industry is on...

  • CDO

    • RFC CDO auctions scheduled

      Auctions have been scheduled to take place on 2 December for RFC CDO II and RFC CDO III. In each cas...

  • • Trups CDO defaults decline again

      Combined US bank Trups CDO defaults and deferrals declined to 27.4% at the end of September, accordi...

  • CDS

    • OTC stats show counterparty breakdown

      The BIS has released OTC derivatives statistics at end-June 2013. For the first time, CDS data inclu...

  • • FCPA concerns drive Avon widening

      Avon Products' senior five-year credit default swap spreads have spiked, underlining investor concer...

  • • Credit option analytics offered

      SuperDerivatives has launched a market data and analytics package to support the growing demand for...

  • • Bankruptcy credit event called

      ISDA's Americas Credit Derivatives Determinations Committee has resolved that a bankruptcy credit ev...

  • CLOs

    • Euro CLO 1.0 call candidates highlighted

      With over 80% of Moody's-rated European CLO 1.0 deals entering their reinvestment periods by the end...

  • CMBS

    • Apartment prices buck trend

      US apartment prices decreased by 0.2% in September - the first decline in nearly four year...

  • • Rise seen in non-traditional properties

      While traditional property types continue to represent the majority of collateral in US CMBS deals r...

  • • CMBS balloon payoffs slip slightly

      The percentage of US CMBS conduit loans paying off on their balloon date slipped last month to 68.6%...

  • Insurance-linked securities

    • Vitality Re rating upgraded

      S&P has raised its ratings on Vitality Re II Series 2011-1 class B notes to triple-B minus f...

  • NPLs

    • Opportunities eyed in German NPLs

      CORPUS SIREO expects non-performing loans to generate a market potential in real estate asset manage...

  • Risk Management

    • 'Push-out' revision approved

      The US House of Representatives last month approved HR 992, a revision to the Dodd-Frank Act that wo...

  • • ISDA considers short-term suspensions

      ISDA has responded to a request from the FDIC, Bank of England and others to consider amending its m...

  • RMBS

    • Countrywide objections dropped

      The Boston, Chicago and Indianapolis Federal Home Loan Banks and two Cranberry Park entities have dr...

  • • US home price rises 'unsustainable'

      Several US cities are approaching inflated bubble-year price peaks, according to Fitch. US home pric...

  • • QM exposure draft released

      Fitch expects the Bureau of Consumer Financial Protection's (CFPB) Ability-to-Repay (ATR) and Qualif...

  • • Dutch mortgage market changes examined

      Recent actions by the Dutch government will likely reduce origination of NHG-backed mortgages, chief...

  • • Loss severity improvements lagging

      US RMBS loss severities have not improved at the rate that might be expected from recent home price...

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