Weekly Issue Archive »

Issue 571 - 22nd December

  • News Analysis

    • ABS

      • Esoterics shine in 2017

        The US esoteric ABS market has gone from strength to strength in 2017, as investors gained comfort with less vanilla assets in a continued hunt for yield. Whole business and aviation ABS have been notable highlights, with both segments seeing record...

    • Structured Finance

      • Broad-based recovery underlined

        The global securitisation markets continued their broad-based recovery in 2017, with total issuance reaching about US$850bn-equivalent through November, an increase of 27% over the approximately US$667bn-equivalent recorded in full-year 2016. Volumes...

    • Capital Relief Trades

      • IFRS 9 volatility persists

        The Bank of England did not disclose any data on the capital impact of IFRS 9, following the recent PRA stress tests, as had initially been expected - although subsequent statements by the central bank signal no overall impact for stress-based capita...

  • News

    • Structured Finance

      • SCI Start the Week - 18 December

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

        Pipeline ABS additions to the pipeline finally dropped off last week, but RMBS, CMBS and CLOs continued to be added. The RMBS were US$165m Ajax Mortgage Loan Trust 2017-B, €900m HT Abanca RMBS II, US$883.8m JPMMT 2017-6 and Liberty Series...

    • Capital Relief Trades

      • Landmark shipping SRT completed

        Further details have emerged of Nord LB's landmark shipping significant risk transfer trade (SCI 8 December). Dubbed Northvest 2, the financial guarantee is believed to be the largest post-crisis synthetic securitisation of shipping assets. Nord LB...

      • SRT investor concerns disclosed

        AFME, in association with the International Association of Credit Portfolio Managers (IACPM), has responded to the EBA's significant risk transfer discussion paper. The response reveals investor-related concerns around certain aspects of the paper, m...

      • Project finance risk transfer completed

        Santander has completed a synthetic risk transfer securitisation, transferring risk on a €2.3bn portfolio of loans originated in Spain and other EU countries. Scope Ratings has rated the transaction triple-A. The synthetic project finance...

    • NPLs

      • Sharp rise in Italian NPL ABS expected

        Italy is set to see a jump in GACS-eligible securitisations in 2018, potentially totalling €40bn-€45bn in gross book value of sold non-performing loans, compared with €8bn this year. Scope Ratings suggests that should Ba...

      • PPC benchmark securitisation pending

        Finacity has been awarded the role of securitisation advisor on behalf of Greece's Public Power Corporation (PPC). The move is expected to pave the way for the first Greek securitisation for a corporate entity and establish a benchmark for other non-...

  • The Structured Credit Interview

    • ABS

      • Embracing a tactical approach

        David Moffitt, head of tactical investment opportunities at LibreMax Capital, answers SCI's questions Q: How and when did LibreMax Capital become involved in the securitisation market? A: LibreMax Capital was established in October 2010 by found...

  • Job Swaps

    • Structured Finance

      • Job swaps round-up - 22 December

        CDS options clearing LCH's CDSClear has become the first platform to clear credit index options, with post-trade services for both dealer-to-dealer and dealer-to-client flows provided by MarkitSERV. The service is expected to benefit members and cl...


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