Weekly Issue Archive »

Issue 649 - 5th July

  • News Analysis

    • Capital Relief Trades
      • Increasing capacity

        Bridging the CRT gap for insurers

        Greater involvement from insurers in capital relief trades should improve any capacity constraints the market faces. However, while banks are seeking alternative pockets of demand in which to place their risk and insurers are seeking to diversify and...

      • Helping hand

        Refugee risk-sharing facility inked

        Dutch development bank FMO has signed a pilot bilateral risk-sharing facility under its NASIRA programme, which guarantees portfolios of loans to vulnerable, underserved entrepreneurs in sub-Saharan Africa and countries neighbouring Europe. The agree...

    • Derivatives
      • Buy-side buy-in

        End-user use of complex credit on the increase

        The continuing need to search for yield is causing the buy-side to look beyond traditional credit. New and old funds alike are looking for opportunities in the derivatives space. “The majority of our buy-side clients trade diversified cre...

    • Capital Relief Trades
      • Auto SRT completed

        Innovative direct CLN structure debuts

        Santander has completed its first synthetic significant risk transfer transaction that references a portfolio of US auto loans (SCI 2 July). Dubbed Santander Synthetic Prime Auto Issuance 2019-A, the US$1.38bn transaction features a novel CLN structu...

    • CMBS
      • Odds "stacked against borrowers" in CMBS

        SCI reviews Ann Hambly's CMBS 911 – Are you ready for the crash?

        In CMBS 911: Are you ready for the crash?, author and ceo of 1st Service Solutions Ann Hambly, emphasises that when a CMBS loan becomes distressed, it is an emergency situation for a borrower from which they’re unlikely to come out...

  • Market Reports

    • Structured Finance
      • Pre-summer rush

        European ABS market update

        Activity levels are currently high across the European ABS/MBS and CLO markets and that looks set to continue. “It’s very busy in both primary and secondary,” confirms one trader. “It feels like the usual rus...

  • News

    • Structured Finance
      • SCI Start the Week - 1 July

        A review of securitisation activity over the past seven days

        Transaction of the week Blackstone is marketing an inaugural US$264.5m forward-mortgage RMBS featuring unique collateral characteristics pertaining to underwriting and property concentration. Dubbed FWD 2019-INV1, the transaction is backed by 1,724...

      • Latest podcast now live!

        Mascots, Japanese CLO investors and STS struggles

        In this month's edition of the SCI podcast, the editorial team get stuck into some interesting topics affecting the securitisation market today. First, our editor, Corinne Smith discusses some recent structural innovations in US CLOs...

      • Rarely-seen synthetic securitisation revealed

        Transaction references unusual pool of US auto loans

        Santander has issued a rare synthetic securitisation referencing a collateral pool of US prime auto loans. Dubbed Santander Synthetic Prime Auto Issuance 2019-A, the deal comprises credit-linked notes (CLNs) referencing the performance of a...

  • Market Moves

    • Structured Finance
      • CLO firm boosts research team

        Company hires and sector developments

        CEDE made public AIR Worldwide has published its Catastrophe Exposure Data Exchange (CEDE) database schema publicly. The aim is to facilitate accurate and transparent data exchange throughout the insurance value chain more efficiently, and to encou...

      • EBRD appoints Greece, Cyprus lead

        Company hires and sector developments

        EBRD hires NPL vet The EBRD has appointed Andreea Moraru to lead its operations in Greece and Cyprus from November, following the retirement of the current holder of the role, Sabina Dziurman. Based in Athens, Moraru will continue the EBRD&rsqu...

      • Greencoat Investments notice received

        Sector developments and company hires

        BUMF 6 application discontinued A notice of discontinuance from Greencoat Investments has been received by Business Mortgage Finance 6, purporting to discontinue its application for an administrative order with respect to the issuer, which had been...

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