Weekly Issue Archive »

Issue 751 - 16th July

  • News Analysis

    • RMBS
      • Positive story?

        Mortgage performance eyed as support ends

        European RMBS performance has remained robust in the face of unprecedented stresses brought about by Covid-19, supported by a number of government schemes. However, questions remain over how the withdrawal of these measures will affect the market. ...

    • Capital Relief Trades
      • Bridging the gap

        Sustainable SRTs to spur ESG securitisation growth?

        A steady stream of renewables significant risk transfer deals is expected to come on to the market in the coming months. This CRT Premium Content article investigates whether synthetics can spur growth across the broader ESG securitisation sector. ...

    • CLOs
      • Loss mitigation mechanics

        Euro CLO primary practice around LML documentation discussed

        SCI publishes regular case studies and reports on the CLO market in addition to our usual news stories on the sector and the latest can be found here. This time, we examine the uptake of loss mitigation loan language in European deals since the con...

    • ABS
      • MPL rewards

        Generous MPL returns stand out in parsimonious ABS market

        ABS investors in the US searching for value in an environment otherwise starved of this should look at the marketplace loans (MPL) sector, suggest analysts. One year AAA-rated unsecured consumer MPL ABS currently trade at around 40bp against the ED...

    • RMBS
      • Foreclosure fears

        CFPB's new rule curtailing foreclosures complicates mortgage market

        The final rule on foreclosures introduced this week by the Consumer Financial Protection Burea (CFPB) is unlikely to interrupt MBS issuance in the short term but problems likely lie round the corner, say experts. At the moment, record refinancing a...

  • News

    • ABS
      • Endless cash

        European ABS/MBS market update

        As the pre-summer flow comes to a close, optimism still prevails across the European ABS/MBS primary market. Despite strong execution from the four widely marketed deals last week and three still in the pipeline (see SCI’s Euro ABS/MBS Deal...

    • Structured Finance
      • SCI Start the Week - 12 July

        A review of SCI's latest content

        Last week's news and analysis Forbearances south of 2m Forbearances below 2m for 1st time in 15 months - big weekly drop Fourth gear JP Morgan takes to the road again for fourth auto CLN in 11 months Going hybrid New working model...

    • Capital Relief Trades
      • Risk transfer round-up - 12 July

        CRT sector developments and deal news

        Santander is believed to be readying a Spanish synthetic securitisation from the Magdalena programme that is expected to close in 3Q21. The last Magdalena deal closed in September 2020 with the EIF (see SCI’s capital relief trades database)...

      • Lift off

        BMO programme details revealed

        Further details have emerged of a synthetic securitisation programme launched by BMO in late December 2020. Dubbed Sauble, the programme will exclusively focus on leveraged loan issuance and is one of only two programmes dedicated to this segment. BM...

    • RMBS
      • Back in vogue?

        Reverse equity to test market appetite

        Another UK RMBS backed predominantly by legacy Northern Rock assets has hit the market. The Towd Point Mortgage Funding 2021-Hastings 1 transaction marks the first public securitisation of UK equity release mortgages since the financial crisis. Acq...

  • Market moves

    • Structured Finance
      • Aviation finance practice inaugurated

        Sector developments and company hires

        Aviation finance practice inaugurated Global aviation services provider ACC Aviation has added an in-house aviation finance specialist. Viktor Berta joins the group as vp of its newly created aviation finance practice. The appointment broadens the s...

      • ILS efforts beefed up

        Sector developments and company hires

        ILS efforts beefed up AXIS Capital Holdings has appointed Chris Caponigro as global head of AXIS ILS, as its third-party capital unit has been rebranded. Caponigro will oversee the company’s activities related to third-party capital under...

      • New CLO committee to tackle 'greenwashing'

        Sector developments and company hires

        New CLO committee to tackle ‘greenwashing’ The European Leveraged Finance Association (ELFA) has created a new committee to establish industry best practice and serve investors in the CLO market. The CLO Investor Committee will p...

      • Structured products dealer acquired

        Sector developments and company hires

        Structured products dealer acquired Santander Holdings USA is set to acquire independent broker-dealer Amherst Pierpont Securities - through the acquisition of its parent holding company Pierpont Capital Holdings - for a total consideration of app...


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