Weekly Issue Archive »

Issue 637 - 12th April

  • News Analysis

    • CLOs

      • On the up?

        CRE CLO market growth set to continue

        After a buoyant CRE CDO market all but vanished following the financial crisis, it has only recently returned in the form of CRE CLOs with issuance growing from almost nothing three years ago, to just under US$14bn last year. While the basic structur...

    • NPLs

      • Real estate relief

        NPL provisioning rules published

        The European Council of Ministers has adopted new rules for the provisioning of non-performing loans, which stipulate loss coverage for future NPLs with different coverage requirements depending on different NPL classifications. The text is a relief...

    • Structured Finance

      • BWIC boom

        Quarterly SCI data update

        The first quarter of a year is usually quieter than the previous quarter and, for the most part, 1Q19 saw reduced activity over 4Q18 (SCI 24 January 2019). The notable exception was CLO secondary markets, where BWIC volumes boomed for the second quar...

  • News

    • ABS

      • Bulking up

        Securitisation capabilities stretched

        DLA Piper bulked up its securitisation capabilities to 20 lawyers for Stack Infrastructure’s inaugural and innovative ABS from February, due to structuring challenges. The potential for rendering the deal risk retention-compliant means that...

    • Structured Finance

      • SCI Start the Week - 8 April

        A review of securitisation activity over the past seven days

        SCI seminars SCI's 2nd Annual NPL Securitisation Seminar will be held on 13 May in Milan. For more information or to register, click here. SCI's 1st Annual Middle Market CLO Seminar will be held on 26 June in New York. For more information o...

      • SCI podcast - episode six now live

        CLO innovation and UTP securitisations discussed

        Episode six of the monthly SCI podcast is now available. In this edition, our editor Corinne discuss some fascinating developments in the CLO sector, including how several structural innovations have begun to emerge and she asks why that has happened...

    • NPLs

      • Foreclosure uncertainty

        ECJ ruling leaves Spanish NPL investors in the dark

        The European Court of Justice’s (ECJ) 26 March judgement on early-termination clauses in Spanish consumer mortgage contracts could result in the use of quicker mortgage foreclosure proceedings in Spanish non-performing loan transactions. Th...

    • RMBS

      • Inaugural non-QM RMBS prepped

        Deal marks new phase for global investor

        The first seasoned, non-qualified mortgage RMBS issued by a private fund managed by PIMCO is marketing. The US$382.45m transaction, dubbed BRAVO Residential Funding Trust 2019-1, is backed by 1,311 loans originated by Capital One and acquired by a PI...

  • Market Moves

    • Structured Finance

      • European bank in major restructure

        Company hires and sector developments

        COO hired Trepp has appointed Luis Amador as coo, reporting to ceo, Annemarie DiCola. Amador was recently md at Moody's Analytics, responsible for structured finance financial engineering, product management, content production, and advisor...

      • Firm bulks out CRE capability

        Sector developments and company hires

        Board directors appointed ISDA has appointed three new board directors and re-elected ten others. The three new directors are, Erik Tim Mueller, ceo, Eurex Clearing, Andrew Ng, group executive, head of treasury and markets, DBS Bank and Shigeru Non...


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