Issue 472 - 22nd January
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SCIWire
- Secondary markets
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Euro secondary resilient
The European securitisation secondary market remained resilient into Friday's close despite broader...
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Euro secondary hesitant
It was an unsurprisingly quiet day yesterday in the European securitisation secondary market as part...
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Euro secondary story unchanged
Yesterday's improvement in broader markets did not change the story in the European securitisation s...
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US CLOs light
The holiday-shortened week has not produced the usual boost to activity and volumes in US C...
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Euro ABS/MBS turns
After two weeks of insulation from broader market volatility the positive tone in the European ABS/M...
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Euro CLOs suffer
The European CLO secondary market is suffering under heavy selling pressure. "Activity is almost e...
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Euro secondary improves
Better wider markets have improved European securitisation secondary tone once more. A combination...
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- Secondary markets
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News
- Structured Finance
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SCI Start the Week - 18 January
A look at the major activity in structured finance over the past seven days
Pipeline The pipeline continued to build last week as a number of new deals were added. At the final count there were eight new ABS, one ILS, three RMBS, one CMBS and two CLOs. The ABS were: US$188.5m ACAR 2016-1; US$1.05bn Ally Auto Receivables T...
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- CMBS
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Vulcan CMBS prospects eyed
The EuroCastle Office Portfolio in Vulcan (ELoC28) has been sold at a level sufficient to repay the securitised loan in full. Progress on the other loans securitised in the deal suggests that the class F and class G notes will suffer total losses. ...
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- RMBS
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FHLB rule impact gauged
The FHFA has released a final rule which amends its guidelines for Federal Home Loan Bank (FHLB) membership. The rule adds to the woes of leveraged RMBS investors by excluding captive insurers from the list of entities eligible for FHLB membership. ...
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Oil slump is CRT concern
Oil prices last week hit their lowest mark for 12 years, with significant implications for CRT deals. Should oil prices remain depressed over the coming quarters, Barclays analysts expect the underperformance of oil-affected areas to worsen. Oil pr...
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- Structured Finance
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Talking Point
- Structured Finance
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Alignment of interest
Marketplace lending regulatory scrutiny discussed
Representatives from Kaye Scholer, Fundation Group and PeerIQ recently discussed the impact of heightened regulatory scrutiny on the US marketplace lending industry during a live webinar hosted by SCI (view the webinar here). This Q&A article...
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- Structured Finance
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Job Swaps
- Structured Finance
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Mid-market platform bolstered
Kayne Anderson Capital Advisors has hired James Hunt as managing partner and ceo of its middle marke...
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BlueCrest fund changes management
JPMorgan is set to take over the management of the US$1.2bn BlueCrest AllBlue Fund, which w...
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Magnetar poaches SF pro
Aidan McKeown has joined Magnetar as part of its fixed income team, focusing on structured credit an...
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Risk manager switches shops
Fitch Solutions has poached Justin Revelle from Moody's Analytics to serve as regional business mana...
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- CLOs
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Manager invests in structured experience
Alberta Investment Management Corporation (AIMCo) has strengthened its relationship with DFG Investm...
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- CMBS
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Multifamily expert added
Walker & Dunlop has beefed up its multifamily finance group by hiring Hal Reinauer as vp. In...
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- Insurance-linked securities
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ILS portfolio manager tapped
Butch Agnew has been brought in by Tokio Solution Management as vp, ILS portfolio...
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- Structured Finance
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News Round-up
- ABS
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UK card performance 'strong'
The collateral performance of transactions in S&P's UK credit card ABS index remained strong...
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Prime auto LTV losses compared
Pools of prime US auto loans with high LTV ratios perform more than three times worse on a...
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Marketplace ABS guidelines provided
Marketplace loans are "the most exciting securitisation asset class to emerge since credit cards and...
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- Structured Finance
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STS securitisation supported
The European Economic and Social Committee (EESC) has added its voice to calls for the introduction...
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Europe credit conditions surveyed
The European securities financing and OTC derivatives markets saw less favourable credit terms being...
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China, India seeking alternative finance
The development of domestic securitisation markets in India and China can boost the countries' finan...
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APAC ratings stable
Structured finance transactions remained stable in Japan, Australia and New Zealand in 4Q15, accordi...
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Swaps allow for higher ratings
Cross-currency swaps that mitigate the effect of foreign exchange controls have enabled Moody's to a...
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Global SF growth predicted
The global structured finance market could reach up to US$2trn by 2020, according to a report by mar...
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- CDS
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Novo Banco meeting set
ISDA's Determinations Committee will reconvene on 19 January to further discuss th...
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- CLOs
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CLO structural tweaks emerging
Moody's expects more multi-currency deals to emerge within the European CLO market in 2016, with ste...
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CLO issuance set to drop
The pace of new US CLOs coming to market could be set to decline as looming risk retention takes a s...
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- CMBS
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Hudson loses another anchor
Hudson Valley Mall is set to lose another anchor chain when Macy's closes shop in April 2016. Kroll...
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New highs for CMBS repays
Two-thirds of European CMBS loans maturing in 2016 will repay as a result of high prepayment levels,...
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- Insurance-linked securities
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ILS market hits milestone
The ILS market reached a new height for issuance in 2015, hitting US$70bn and exceeding the...
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- Risk Management
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EBA consults on 'implicit support'
The EBA has launched a consultation regarding its guidelines on implicit support for securitisation...
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Canadian OTC proposals published
The Canadian Securities Administrators (CSA) is seeking comment on its proposed approach to OTC deri...
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- RMBS
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Small balance RMBS RFC issued
S&P is requesting feedback on proposed changes to its surveillance of US RMBS backed by smal...
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More scrutiny on SFR managers
Certain operational risk fundamentals for property managers in the single-family rental space are on...
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Fresh mortgages rap for Ocwen
Ocwen has settled US SEC charges that it misstated financial results by using a flawed and undisclos...
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- ABS
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