Weekly Issue Archive »

Issue 659 - 13th September

  • News Analysis

    • Structured Finance

      • Maltese benefits

        Jurisdiction especially suited to innovative transport ABS

        Malta provides a legal and tax framework that provides the same benefits for the establishment of SPVs as more well-known jurisdictions, such as Luxembourg and Ireland. Malta is also especially well suited to shipping and aviation securitisations, wi...

    • CLOs

      • Performance questions

        CMV conflict concerns aired

        Scepticism about whether CLO managers and their investment affiliates can be truly independent of each other has accompanied the rise of CLOs anchored by risk retention capital raised via capitalised manager vehicles (CMVs). As the first iterations o...

    • Capital Relief Trades

      • Risk profile

        Basel 4 impact to vary based on business model

        The EBA last month published its advice on the implementation of Basel 4 in the EU, with its impact assessment suggesting that the full implementation of the new framework under conservative assumptions will increase the minimum capital requirement (...

    • Derivatives

      • Roll play

        Asian CDS index changes could boost market

        Impending changes to Asia’s CDS index are grabbing traders’ attention. Meanwhile, other structured finance derivatives activity in the region is on the up. The IHS Markit iTraxx Asia ex-Japan index is due to roll on 20 September...

    • NPLs

      • Targeting opportunities

        Servicers continue hunt for Greek NPL ABS

        Hipoges Iberia, the Iberian servicer, is targeting opportunities in the Greek non-performing loan market that include NPL securitisations. Servicers are targeting Greek NPL ABS deals (SCI 31 May) amid actual and pending completions of NPL ABS transac...

  • News

    • ABS

      • Polish ABS inked

        Securitisation features auto lease collateral

        Alior Leasing has launched a 12 month revolving cash securitisation of auto leasing loans and leases extended to sole traders and SME obligors in Poland. Dubbed AL Poland Securitisation 01, the transaction is the first to receive a public rating by M...

      • Green ABS recommendations outlined

        Securitisation could be key tool in climate change battle

        Green securitisation can play an important role in helping to close the yearly investment gap of almost €180bn needed to meet EU climate and energy targets by 2030, according to AFME. The industry body, and its members, “s...

    • Structured Finance

      • Competitive boost

        QMP expiration levels playing field

        The US Treasury’s plan to reform the country’s housing system is expected to level the playing field between the GSEs and the private sector (SCI 6 September). However, a reduced GSE footprint will also impact credit risk transfer...

      • SCI Start the Week - 9 September

        A review of securitisation activity over the past seven days

        Transaction of the week The EIF has launched two new funding initiatives to support SMEs in Europe, including a first-of-its kind initiative in Finland. The second provides funding support for Lithuanian micro businesses and SMEs. The Finnish prog...

    • Capital Relief Trades

      • Risk transfer round-up - 12 September

        CRT sector developments and deal news

        Intesa Sanpaolo is rumoured to be prepping for 4Q19 two capital relief trades that reference respectively corporate and SME loans. The bank printed its last corporate and SME SRTs last year from the GARC programme (see SCI’s capital relief...

  • Market Moves

    • Structured Finance

      • CLO firm bulks up

        Company hires and sector developments

        CLO firm bulks up Adrienne Dale has joined MidOcean Credit Partners a portfolio manager for its CLO strategies. She will report to Jim Wiant, who oversees MidOcean’s existing CLO business, as the firm looks to expand and scale the busines...

      • Country md announced

        Company hires and sector developments

        Country md announced Jervis Smith has been appointed country md of Vistra Luxembourg, responsible for leading Vistra’s Luxembourg office and growing the business, together with the Vistra office in the Netherlands to maximise joint opport...

      • CLO firm incorporates ESG approach

        Company hires and sector developments

        Cayman CLO first Maples Group has supported the first ever US CLO to issue out of the Cayman Island. The transaction was a US$501m middle market CLO from Natixis, which closed on 13 August 2019. ESG implementation THL Credit has developed and b...

      • ECB stimulus announced

        Sector developments and company hires

        ECB stimulus package outlined The ECB has announced that it is cutting the interest rate on the deposit facility will be decreased by 10 basis points to -0.50%. The interest rate on the main refinancing operations and the rate on the marginal lendi...


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