Weekly Issue Archive »

Issue 543 - 9th June

  • News Analysis

    • RMBS
      • WAC caps not deterring RMBS investors

        Since early 2016 a number of European RMBS have been issued featuring net WAC caps, which alter the normal function of the revenue waterfall. While these deals may present worse value for mezzanine noteholders, lack of supply is enabling issuers to s...

    • NPLs
      • MPS solvency plan outlined

        Monte dei Paschi di Siena (MPS) has set out a plan to demonstrate its solvency to regulators, paving the way for a precautionary recapitalisation by year-end. The plan hinges on the lender's ability to dispose of its €30bn non-performing lo...

      • Bankruptcy reform opens floodgates

        India's bankruptcy law has attracted increased investment in its non-performing loan market, following reforms to the enforceability of contracts. However, concerns remain over whether associated time-bound decisions can be achieved, due to the compl...


  • News

    • Structured Finance
      • SCI Start the Week - 5 June

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

        Pipeline With many market participants decamping to Barcelona this week for the industry conference, there was a notable slow-down in last week's pipeline additions. The final count consisted of seven new ABS, an ILS, two RMBS and a CMBS. The ABS...

      • European market growth predicted

        European securitisation market participants expect the number of investors to grow and participation by investors to increase. Increased investor support is identified in a recent DBRS survey as one of the most important changes required in...

      • CHOICE Act passes in House

        The US House of Representatives has passed the Financial CHOICE Act. The legislation aims to replace much of the Dodd-Frank Act, specifically criticising Dodd-Frank's "one size fits all" approach to securitisation and doing away with risk retention r...

    • NPLs
      • NPL RMBS redemptions spike

        US non-performing loan RMBS early redemption activity has hit record levels this year. US$5.3bn of bonds have been called since the beginning of 2017, compared to about US$2.4bn in 2016, according to Wells Fargo figures. Last month alone saw issuer...


  • Talking Point

    • Marketplace Lending
      • Marketplace ABS evolving

        At the upcoming SCI Marketplace Lending Securitisation Seminar in New York on 22 June, panellists will discuss the structuring and evolution of marketplace loan ABS. The fact that deals are increasingly incorporating features to reduce risk is one ar...


  • Job Swaps

    • Structured Finance
      • Job swaps round-up - 9 June

        North America Brian Ford has been appointed head of structured finance research at Kroll Bond Rating Agency, starting the role in New York next week. He previously spent five years at the rating agency, but was most recently at Barclays, where he w...



Print this issue Click here to access this issue in print format
×