Weekly Issue Archive »

Issue 516 - 25th November

  • News Analysis

    • Structured Finance

      • FX issues

        Currency risk hindering Polish mortgage portfolio sales

        Recent speculation that Deutsche Bank could be selling its Polish unit has highlighted the FX issues associated with shedding non-core mortgage assets in the country. Roughly a third of Deutsche Bank Polska's assets are said to be euro- and Swiss fra...

      • Premium pricing

        Above-par issuance techniques explored

        Above-par issuance is becoming a staple of the European primary ABS market. Deals backed by auto loans, mortgages and credit cards have recently tested the water with this pricing concept, paving the way for other issuers navigating markets in which...

    • NPLs

      • On the agenda

        Efforts to tackle European NPLs gather pace

        Efforts by European policymakers to tackle the region's non-performing loan burden appear to be gathering pace. Establishing a central clearinghouse for NPLs has been mooted, while the ECB's latest Financial Stability Review calls for the creation of...

    • ABS

      • Car trouble?

        Auto loan deterioration affects ABS value

        US auto ABS issuance is booming, but collateral continues to deteriorate and delinquencies have climbed by more than 10% year-on-year. With investors required to exercise ever greater vigilance, some compensation by way of spread widening may be nece...

  • SCIWire

    • CLOs

      • Euro CLOs mixed

        European CLOs are experiencing mixed fortunes in the secondary market depending on maturity and part...

      • US CLO slowdown

        The slowdown towards the Thanksgiving holiday looks to have begun in the US CLO secondary market. ...

    • Secondary markets

      • Euro ABS/MBS firm

        Tone remains firm in the European ABS/MBS secondary market albeit on low volumes. Inevitably with...

  • News

    • Structured Finance

      • SCI Start the Week - 21 November

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

        Upcoming SCI eventSCI's latest Capital Relief Trades Seminar, 'Navigating the Cash vs Synthetic Debate, Weighing the Cost of Capital', is being tomorrow, 22 November, in London. Please email for a conference registration code or click here and follow...

      • Election may yield positive results for SF

        The recent election of a Republican government "should be good for economic growth" and securitisation, with credit spreads benefitting from a tightening bias, according to Wells Fargo structured product analysts. They add that reversing already inke...

      • Constructive outlook for Euro ABS

        This year has been a year of 'two halves' for the international ABS market, according to JPMorgan European securitisation analysts, with the supply/demand imbalance in 2H16 supplanting the volatility and uncertainty seen in the first half. Against th...

      • Euro risk retention 'agreement reached'

        The European Parliament appears to have reached a consensus on its approach to securitisation. The MEPs responsible for the new securitisation bills are understood to have come to an agreement on risk retention, which had been the main sticking issue...

    • Insurance-linked securities

      • Draft ILS regulations released

        As part of the Chancellor's Autumn Statement, the UK government has launched a consultation setting out its proposed corporate, tax and regulatory framework for ILS. The consultation reiterates the government's aim to create an efficient and streamli...

  • Job Swaps

    • Structured Finance

      • Nordic cooperation inked

        SCIO Capital has announced what it terms as "a cooperation" with Nordic-focused institutional invest...

      • CLO firm nabs sales pair

        Palmer Square Capital has hired Brad McClintock and Michael Daniel for its business development team...

    • Risk Management

      • RMBS case settled

        Ally Financial has agreed to pay US$52m in conjunction with its resolution of all outstanding invest...

      • RMBS legal claims dropped

        Fraud claims alleged by Federal Home Loan Bank of Boston (FHLBB) against RBS Securities and other RB...

  • News Round-up

    • ABS
    • Structured Finance

      • Basel tensions flagged

        Basel Committee discussions next week may expose divisions between national members and lead to furt...

    • CDO

      • Trups defaults decline

        The number of US bank Trups CDO combined defaults and deferrals declined to 14.6% at end-October, fr...

    • CLOs

      • Cov-lite CLO prepped

        Highbridge Capital Management subsidiary HPS Investment Partners is in the market with a new CLO (se...

    • CMBS

      • Loss severity spikes

        US CMBS loan losses jumped well beyond the historical weighted average loss severity during 3Q16, Mo...

    • RMBS

      • Small value operations due

        The New York Fed's open market trading desk intends to conduct two small value agency MBS sales oper...


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