Weekly Issue Archive »

Issue 497 - 15th July

  • News Analysis

    • Structured Finance

      • Financial worries

        Derivatives uncertainties arise from Brexit

        The UK's vote to leave the EU has ignited debate as to what deal the British government will carve out for its financial services industry, including the derivatives market. The need for counterparties to retain their passporting rights suggests that...

      • Reputation management

        Side pocket pros and cons debated

        Side pockets are a portfolio management tool that can benefit both investors and managers alike. But having fallen from grace in the wake of the financial crisis, it is debatable whether they can regain their reputation as a viable liquidity manageme...

    • Marketplace Lending

      • Next steps

        Madden ruling creates landscape of uncertainty

        On 27 June the US Supreme Court decided not to hear the Madden vs Midland case, resulting in a continued lack of clarity surrounding national and state usury rates. The move has led to marketplace lending platforms taking steps to adapt to the ruling...

  • SCIWire

    • Secondary markets

      • Euro secondary strengthens

        Supported by the wider market rally the European securitisation secondary market is strengthening an...

      • US CLOs confident

        The US CLO secondary market is exhibiting a more confident tone almost three weeks on from the desta...

      • Euro secondary stays light

        Flows in the European securitisation secondary market continue to be light though sentiment remains...

      • US CLOs rejuvenated

        The US CLO secondary market is continuing to exhibit strong activity after a positive start to this...

  • News

    • Structured Finance

      • SCI Start the Week - 11 July

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

        Pipeline Pipeline activity picked up again last week, with ABS leading the charge. There were nine ABS added to the pipeline, as well as an RMBS and a CMBS. The ABS were: Aurorus 2016; US$755m Capital Auto Receivables Asset Trust 2016-2; US$1bn...

      • STC risk weights reduced

        The Basel Committee has scaled down the risk weights for 'simple, transparent and comparable' (STC) securitisations and reduced the risk-weight floor for senior exposures from 15% to 10%. The move had largely been expected and, in general, is viewed...

    • CLOs

      • Step-up tranches refinanced

        Four US CLOs - ACAS CLO 2013-2, Carlyle Global Market Strategies CLO 2014-3 and Neuberger Berman CLO XII and XVI - have been refinanced over the last two weeks. None of the refinancings were plain vanilla, with three having been d...

  • Job Swaps

    • Structured Finance

      • MUFG poaches ABS head

        Mitsubishi UFJ Securities has brought in Haan Ti as head of ABS for Australia and New Zealand. He jo...

      • Citizens hires for SF push

        Citizens Bank has recruited Brent Hazzard as head of structured finance for its commercial banking b...

    • Risk Management

      • Markit merger completed

        IHS and Markit have completed their merger to form IHS Markit (SCI passim). The firm begins trading...

      • Risk expert tapped

        Andrew Davidson & Co has recruited Richard Cooperstein to lead its risk model management. Th...

    • RMBS

  • News Round-up

      • MPL ABS ratings confirmed

        Moody's has confirmed its rating of Ba3 on the class C notes issued by the Prosper-loan backed Citi...

    • Structured Finance

      • Macro fund prepped

        Algebris Investments (UK) is launching a macro credit fund, managed by partner and macro strategies...

    • CLOs

      • CMBS defaults move up

        S&P's 12-month European CMBS loan maturity default rate moved up to 7.3% from 7% at the end...

    • Insurance-linked securities

      • Foreign aid ILS mooted

        London Market Group (LMG) has launched a white paper on an ILS solution for catastrophes in under-in...

    • NPLs

      • FNMA completes NPL sale

        Fannie Mae has completed its sixth NPL sale, this time consisting of around 9,300 loans totalling US...

    • Risk Management

      • Bail-in protocol launched

        ISDA has launched a new protocol to help market participants meet the EU Bank Recovery and Resolutio...

      • Clearing phase-in eyed

        ESMA has published a consultation paper proposing to change the phase-in period for central clearing...


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