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Issue 466 - 4th December

  • News Analysis

    • Structured Finance

      • Growing trade

        Receivables ABS opportunities emerging

        A number of UK government legislative initiatives are expected to help breathe life into small businesses. This, in turn, could help deepen interest in trade receivables securitisation as a useful tool for facilitating working capital. The Small Bu...

      • Recycling risk?

        STS synthetic exclusion scrutinised

        The European Commission's Capital Markets Union proposals for reviving Europe's securitisation market sparked the most debate among players in the capital relief space this year, according to a new SCI research report entitled 'Capital relief trades:...

  • SCIWire

    • Secondary markets

      • US CLO slow return

        The US CLO secondary market is slowly getting back to some semblance of normality after a quiet holi...

      • Euro secondary picking up

        Activity in the European securitisation secondary market is starting to pick up. "Yesterday was ve...

      • US RMBS still quiet

        The US non-agency RMBS secondary market is still quiet after the return from Thanksgiving and could...

      • Euro secondary keeps busy

        The upswing in activity in the European securitisation secondary market is continuing. Yesterday s...

      • US CLOs dormant

        The US CLO secondary market has failed to shake off its pre-Thanksgiving dormant state. "It's a ve...

      • Euro secondary holds up

        The European securitisation secondary market is holding up amid weakness in broader credit following...

  • News

    • ABS

      • Fund lists ahead of ABS

        Funding Circle has listed its SME Income Fund on the London Stock Exchange after successfully raising the required target of £150m. The move signals the opening up of Funding Circle's loans to a potential global investor base and precedes th...

    • Structured Finance

      • SCI Start the Week - 30 November

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

        Pipeline The pace of pipeline additions slowed last week due to Thanksgiving. The final count consisted of three ABS, one ILS, one RMBS, three CMBS and one CLO. US$713m Castlelake Aircraft Securitization Trust 2015-1, A$190m Liberty Series 2015-1...

      • ABS to boost SMEs

        The British Business Bank (BBB) is considering securitisation as part of its wider remit to increase funding to UK SMEs. It aims to provide capital to increase the supply of asset finance solutions for small businesses and securitisation may be used...

    • Risk Management

      • SEF collusion case filed

        A class action lawsuit was filed last week that accuses 10 banks and two trading platforms of colluding to halt competition from SEFs in the interest rate derivatives (IRDs) market. The Public School Teachers' Pension and Retirement Fund of Chicago b...

  • Talking Point

    • Structured Finance

      • Proof of concept

        Risk transfer regulatory, structuring considerations discussed

        Representatives from Reed Smith and StormHarbour Securities recently provided an introduction to capital relief trades, focusing on regulatory and structuring considerations, during a live webinar hosted by SCI (view the webinar here). This Q&...

  • Job Swaps

    • Structured Finance

      • Hedge fund goes private

        BlueCrest Capital Management is to transition to a private investment partnership and will return to...

    • CDS

      • CDS start-up beefing up

        Citadel Securities has brought in Tian Zeng as part of its push towards launching a new CDS...

    • CMBS
    • RMBS

      • SFR broker launches

        HomeUnion has launched a new mortgage brokerage for SFR investors and hired Chris Diaz to run the un...

  • News Round-up

    • ABS

      • VW issuance to expand

        Volkswagen says it plans to continue diversifying its mandate for auto ABS issuance amid the ongoing...

      • Online lender ABS debuts

        Online lender loanDepot has closed a US$150m securitisation of unsecured personal loans. It was stru...

      • Interbank ABS arriving

        Shanghai Provident Fund Management Centre is set to issue an ABS backed by housing fund loans on Chi...

      • ABS criteria aligned

        Fitch has published its global consumer ABS rating criteria by aligning its separate geographical me...

    • Structured Finance

      • ABSPP extension inked

        The ECB has extended its purchases under the ABSPP by six months to end-March 2017 and says the prog...

      • European outlook improves

        European structured finance will benefit next year from an improved macroeconomic landscape, consume...

      • ABSPP 'pause' due

        The Eurosystem is set to temporarily pause its purchases under the ABSPP between 22 December and 1 J...

      • Direct lending fund closed

        BlueBay Asset Management has closed its Direct Lending Fund II SLP, exceeding its revised target of...

      • CMBS losses inch down

        The weighted average loss severity for all US CMBS loans liquidated at a loss decreased from 42.1% i...

      • Chinese RMBS RFC issued

        Moody's has published a request for comment on its proposed methodology for rating Chinese RMBS. The...

      • STACR issuance plotted

        Freddie Mac has released a 2016 STACR issuance calendar. The move coincides with the pricing of STAC...


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