Weekly Issue Archive »

Issue 791 - 29th April

  • News Analysis

    • Capital Relief Trades
      • Distribution normalization

        Pre-pandemic capital distributions return

        European banks have built up a fair amount of capital during the last two years and are in a relatively good position to make distributions. Indeed, several banks have explicitly stated their intentions to reduce capital positions to lower levels to...

    • ABS
      • A buyer's market

        European ABS/MBS market update

        Following a flurry of deal announcements (SCI 22 April 2022), the primary European and UK ABS/MBS markets were extensively testing investor demand during the week. With so many deals to absorb, deal performance has been disparate. In a context of l...

    • Capital Relief Trades
      • Risk retention

        RTS welcomed with caveats

        The EBA’s regulatory technical standards (RTS) on securitisation risk retention requirements stipulates provisions on synthetic excess spread that have been welcomed by originators of significant risk transfer trades (SCI 13 April). Indeed,...

  • News

    • Capital Relief Trades
      • Risk transfer round up-27 April

        CRT sector developments and deal news

        Credit Agricole is believed to be readying a synthetic securitisation that is backed by corporate and commercial real estate loans. The bank’s last corporate deal closed last year (see SCI’s capital relief trades database). Stel...

      • Lift off

        Credit Suisse completes SRT

        Credit Suisse has finalized a synthetic securitisation that references a granular and blind Sfr3.5bn `portfolio of Swiss corporate and SME exposures. Dubbed Elvetia finance series 2022-1, the transaction is a replacement trade for a signific...

      • Another Algonquin

        BMO brings SRT trade referencing NA corporate loans

        Bank of Montreal is back in the market with another SRT trade priced off its Algonquin platform, designated Algonquin Series 2022-2. It is only two weeks since the borrower priced and settled Algonquin Series 2022-1,which was the first transaction...

      • Risk transfer round up-29 April

        CRT sector developments and deal news

        JPMorgan and Nordea are believed to be arranging a significant risk transfer transaction backed by consumer loans for Nordic consumer lender Klarna. Meanwhile, details of Bank of Montreal’s latest Algonquin transaction have been revealed(SC...

      • CAS continuity

        Fifth CAS of 2022 in the market

        Fannie Mae is in the market with another CAS REMIC deal, designated CAS 2022-R05, according to reports. Wells Fargo and Bank of America are the lead managers. Barclays, Citi, Morgan Stanley and StoneX are co-managers. This is the fifth CAS deal o...

  • Talking Point

    • Structured Finance
      • The Importance of ESG in credit ratings

        Matthew Mitchell, senior director at S&P Global Ratings, explains why ESG is becoming an increasingly important factor when it comes to credit ratings of all types That is why S&P Global Ratings recently announced it will publish ES...

  • Market Moves

    • Structured Finance
      • MSCI and MarketAxess collaborate

        Sector developments and company hires

        MSCI has announced its entry into a strategic collaboration with MarketAxess to establish new portfolio analytics solutions and fixed income indexes. The two firms hope to improve the fixed income investment process, empower investors, and drive inno...

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