Issue 487 - 6th May
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News Analysis
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Compromised compliance
Buyside valuation controls scrutinised
It is almost two years since the transitional period for AIFMD expired in Europe and the majority of AIF managers now consider themselves to have addressed the directive's requirements. However, as evidenced by regulator-imposed penalties in France,...
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News
- ABS
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Mobile phone EIP ABS mooted
As the business model of US wireless carriers moves to further embrace equipment instalment plans (EIPs), they become more likely to issue ABS, says Moody's. Verizon has publically stated its interest in securitisation and there is increased speculat...
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- ABS
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Job Swaps
- Structured Finance
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Marsh recruits risk pro
Marsh has hired Abbey Sturrock for its political risk and structured credit practice, serving as svp...
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- CLOs
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BlackRock names CLO head
Josh Tarnow is taking over as head of BlackRock's CLO and bank loans business. This comes after Lela...
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- Insurance-linked securities
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Kane platform rebranded
Artex Risk Solutions has rebranded the insurance management operations it recently purchased from Ka...
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TigerRisk builds ILS trading capability
TigerRisk Capital Markets & Advisory has received FINRA approval to trade catastrophe bonds...
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Securitisation leader named
Hannover Life Reinsurance Company of America (Hannover Re US) has promoted Dale Mensik to svp, finan...
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- Risk Management
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Matching product launched
Sapient Global Markets had launched RegRecon, which is intended to enhance matching, reconciliation...
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- Structured Finance
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News Round-up
- ABS
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Card ABS near record levels
US credit card ABS performance is still hovering close to record territory, according to Fitch's lat...
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China vehicle guidance assessed
China's new guidance on used vehicle sales will have a mixed impact on the recovery rates i...
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Subprime auto concerns surfacing
The recent 20-year high in US subprime auto ABS delinquencies is not the main concern for investors...
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Lawsuit 'credit negative' for ABS
A lawsuit filed against Lending Club is credit negative for ABS backed by consumer loans originated...
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- Structured Finance
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ABCP stays stable
US ABCP conduit collateral compositions, credit quality and performance measures remain strong and t...
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Spanish synthetics on the cards
Moody's suggests that synthetic securitisations could become more popular for Spanish banks looking...
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Argentina headwinds outlined
Tighter economic policies implemented by Argentina's newly elected government could prove challengin...
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- CDS
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CDS market still shrinking
The steady reduction in the size of the global CDS market continued in 2H15, according to t...
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- CLOs
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Post-crisis CLO returns keep momentum
The total amount of CLOs that paid down in JPMorgan's CLO Index (CLOIE) in April was US$3.54bn in pa...
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Brexit risk to Euro CLO performance
The European CLO market has seen €4.44bn in new issuance this year, slightly above the &am...
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Euro CLO equity returns impress
Overall European CLO equity returns have largely been as expected, according to a study by data and...
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CLO 2.0 'more resilient'
Post-crisis European CLO triple-A ratings would avoid downgrades even if faced with stresses similar...
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- CMBS
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CMBS delinquencies up again
The US CMBS delinquency rate inched higher again in April, according to Trepp. It was the second con...
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Macro issues affecting Brazilian MBS
Macroeconomic pressures on Brazil will continue to stress CMBS, says Fitch. Credit-linked CMBS will...
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- Risk Management
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CFTC amends swap requirement
The US CFTC has approved a final rule to amend a requirement that swap dealers (SDs) and major swap...
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MiFID 2 transparency changes proposed
ESMA has proposed amendments to its draft regulatory technical standards (RTS) for MiFID 2. These in...
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- RMBS
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Belgian resi delinquencies nudge up
The performance of the Belgian RMBS market remained stable in the six months to February, according...
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Seattle MBS settlement agreed
Bank of America has agreed to pay a US$190m settlement to the Federal Home Loan Bank of Seattle&...
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RPL RMBS hitting expectations
The early performance signals from US reperforming loan RMBS deals reveal that they have ma...
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FNMA enhances CAS disclosures
Fannie Mae has made further enhancements to its loan level disclosure data for its Connecticut Avenu...
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Goldman settlement gets approval
A US$272m settlement in one of the last remaining RMBS class action suits to come out of the financi...
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Argentina RMBS set to emerge
Argentinean RMBS prospects could be boosted by the creation of a new inflation-adj...
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UK prime RMBS 'stable'
UK prime RMBS continues to perform in a stable fashion, according to Moody's latest index results on...
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Aussie housing turns corner
Australian housing affordability deteriorated over the 12 months to the end of March, requiring home...
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- ABS
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