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Issue 758 - 3rd September

  • News Analysis

    • ABS
      • Forward strides

        Middle East Islamic finance market looks good into 2022

        The Islamic finance Middle Eastern market has achieved notable progress over the last four or five years and sentiment remains very positive, say analysts. "It's been a strong year so far - we have seen five years of growht in the...

    • Capital Relief Trades
      • Ready to launch

        Norway readies SRT take off

        The Norwegian banking market is getting ready for a pick-up in significant risk transfer (SRT) issuance next year following the pending incorporation into law of the new Securitisation Regulation, say market experts. Nevertheless, the first deals a...

  • News

    • ABS
      • Scope concerns

        SFA underlines concerns in UK government call for regulation opinion

        The SFA has highlighted problems in regulatory jurisdictional scope in its response to Her Majesty’s Treasury’s Call for Evidence on UK securitisation regulations. Earlier this year, the UK government had issued a call for evide...

    • Capital Relief Trades
      • High LTV Italian SRT inked

        Intesa executes capital relief trade

        Intesa Sanpaolo has finalized a significant risk transfer (SRT) transaction from the GARC programme that references a €1.3bn portfolio of high loan-to-value (LTV) residential mortgages. The deal is the first high LTV mortgage SRT in the It...

      • Risk transfer round up - 31 August

        CRT sector developments and deal news

        Alpha bank confirmed in last week’s 1H21 statements further details of a significant risk transfer trade that the Greek lender intends to execute in 4Q21 (SCI 5 March). Dubbed Aurora, the transaction references a €2bn corporate a...

    • CMBS
      • CMBS vigour

        CMBS issuance for rest of 2021 to keep everyone busy

        Issuance in the European CMBS market for the remainder of this year is to exceed 2018 figures  despite the uncertainty emanating from the pandemic, say market experts. “Covid-19 has hit the CMBS market very hard. Thanks to the va...

    • NPLs
      • Low delinquencies - for now

        Delinquencies give few alarms but asset quality slump pending

        While aggregate delinquency data currently looks benign, asset quality is expected to deteriorate as support programmes come to an end. Up to date aggregate delinquency data, while masking some divergence, holds no terrors, notes Scope Ratings. The...

    • RMBS
      • Cliff edge looms

        400,000 loans face forbearance expiry

        The number of mortgages in active forbearance continued to tick down last week, but this month the market is set to be buffeted by the termination of plans that commenced at the beginning of the pandemic. Some 400,000 mortgages hit the expiration d...

      • Libor worries

        UK RMBS transition to leave ratings unshaken

        The transition from sterling LIBOR to risk-free rates is unlikely to have negative rating consequences for UK RMBS transactions, a Standard & Poor's (S&P) report notes. Even though the 31 December phase-out deadline...

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