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Issue 443 - 26th June

  • News Analysis

    • Structured Finance

      • Opportunity knocks

        ECB presence expanding ABS investor mandates

        The ECB's ABSPP was a hot topic at IMN's 2015 Global ABS Conference, as it continues to exert downward pressure on European securitisation spreads. Panellists noted an expanding mandate among many investors, with relative value opportunities shifting...

  • SCIWire

    • Secondary markets

      • Euro ABS/MBS slow return

        The European ABS/MBS secondary market is slowly returning to life following the Barcelona conference...

      • US CLOs ease back in

        The US CLO secondary market looks to be easing its way into this week. After a surprisingly active...

      • US CLOs still soft

        Tone in the US CLO secondary market has remained soft into this morning's open, but that could chang...

      • Euro ABS/MBS firms up

        The European ABS/MBS secondary market is showing a firmer tone, but is not yet fully back up to spee...

      • US CLOs improve

        Sentiment in the US CLO secondary market looks to be improving. "Yesterday the tone was a little b...

      • Euro CLOs weaken

        European CLO secondary market activity and prices are weakening. "The market has become illiquid a...

      • US RMBS slows further

        Activity in the US non-agency RMBS secondary market has slowed still further after last week's dip i...

      • Euro secondary stalemate

        The European securitisation secondary markets remain in stalemate as uncertainty over Greece and a c...

  • News

    • Structured Finance

      • SCI Start the Week - 22 June

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

        Pipeline Ten new transactions entered the pipeline last week, with each asset class represented. Three CMBS and three RMBS began marketing, together with two ABS, one CLO and one catastrophe bond. The newly-announced RMBS comprise CFHL-2 2015, US$...

    • CMBS

      • CMBS 2.0/3.0 financials analysed

        A Morgan Stanley review of the US CMBS 2.0 loans that have reported 2014 year-end financials suggests that the majority of properties are performing well compared to underwriting. However, some idiosyncratic concerns remain across property types and...

  • Job Swaps

    • Structured Finance

      • Direct lending JV inked

        Ares Capital and Varagon Capital Partners have established a new joint venture that will make senior...

      • Valuations team beefs up

        MountainView IPS has added Alvin Hsu in a vp role and Alex Kolesnikoff in a senior analyst role. The...

    • CDO

      • ABS CDO manager removed

        The controlling class noteholder of Crystal Cove CDO has directed the issuer to terminate and remove...

    • CLOs

      • CLO investment disclosed

        Fair Oaks Income Fund has entered into binding contracts to acquire in the primary market US$26.4m n...

    • CMBS

      • Incoming chairman named

        CREFC Europe has appointed Madeleine McDougall as its next chairman. Presently Lloyds Bank's head of...

  • News Round-up

    • ABS

      • SLABS review expanded

        Moody's has placed on review for downgrade the ratings of 106 tranches across 57 FFELP student loan...

    • Structured Finance

      • QS framework unveiled

        The EBA presents its recommendations on an EU framework for qualifying securitisations at a public h...

      • RRL disclosures adopted

        Fitch is set to adopt disclosures highlighting rating agency removal language (RRL) in its rating co...

      • Opportunities fund prepped

        Deer Park Road is set to launch the SBF Opportunities Fund, a long/short fixed income fund focused o...

      • QS hearing scheduled

        The EBA is set to hold a public hearing on its draft report on qualifying securitisation on 26 June...

      • Sabine results in

        The final price for Sabine Oil Gas Corp CDS was determined to be 15.875 at yesterday's auction (SCI...

      • Euro CLO calls gather pace

        European CLO calls are gathering pace (SCI 30 April), with five redemption notices issued in the las...

      • TMAN 4 recoveries gauged

        A noteholder call convened by special servicer Hatfield Philips last week confirmed that the remaini...

    • Insurance-linked securities
    • Risk Management

      • LCR standards updated

        The EBA has published its updated implementing technical standards (ITS) on supervisory reporting of...

      • Pricing service enhanced

        Thomson Reuters has launched Thomson Reuters Pricing Service Plus (TRPS Plus), a new DataScope capab...

      • RFC issued on CCP ratings

        Moody's has published a request for comment on its proposed global methodology for rating central co...

    • RMBS

      • UK arrears diverging

        Fitch reports that UK residential mortgage arrears trends diverged in 1Q15. While prime three-months...

      • August auction scheduled

        The AOFM's third Australian RMBS auction is to be held on 18 August. The announcement comes after th...

      • Ocwen downgrade examined

        S&P last week downgraded Ocwen Financial's residential mortgage servicer ratings to below av...


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