Weekly Issue Archive »

Issue 794 - 20th May

  • News Analysis

    • CLOs
      • Accountability required

        Further transparency needed for ESG CLOs

        CLOs are said to be the perfect vehicle for ESG selection criteria, due to the nature of the asset class. However, calls for further transparency continue. “We are seeing every manager committed to apply ESG to every transaction &ndas...

    • Capital Relief Trades
      • Juicy CRT

        Historical wides entice fast money

        Spread levels in GSE CRT securities at the bottom end of the capital stack are now so cheap relative to comparable ABS assets that they are attracting attention from hedge fund and private equity money, say analysts. Five-year B2 notes are currentl...

      • Capital boost

        European banks ready for cycle turn

        European banks are equipped against a deterioration of the business cycle according to new research, with Nordic banks standing out for both their above-average post-provision profitability and high level of excess capital. After years of high prof...

    • ABS
      • Accelerating change

        NPL ABS evolution gathers pace

        Regulatory change in the European non-performing loan securitisation market has picked up speed over the last month, with the publication of the EBA’s final draft risk retention regulatory technical standards (RTS) (SCI 13 April) and the la...

    • Capital Relief Trades
      • Climate countdown

        Green SRT challenges highlighted

        A green synthetic securitisation framework remains lacking, despite the current regulatory focus on ESG. This Premium Content article explores why. Green lending targets in use-of-proceeds synthetic securitisations are expected to become more of an...

  • News

    • ABS
      • New path

        Mexican securitisation marks firsts for StepStone

        Global private markets firm StepStone has structured a US$102.5m public offering of a securitised portfolio of direct loans via Certificados Bursátiles Fiduciarios on Mexico’s BIVA stock exchange earlier this year. Significantly,...

      • Complex picture

        European ABS/MBS market update

        With two deals being pulled in the space of a week, the European ABS/MBS markets are facing thorny times. The current complex environment and volatility is set to hinder issuance in the short term. Last Friday, HSBC announced it had to pull its UK...

    • Structured Finance
      • SCI Start the Week - 16 May

        A review of SCI's latest content

        Last week's news and analysis Better bid REO online auctions gaining traction PIMCO push Kruzel hire suggests new SRT focus Reinsurance resurge The CRT reinsurance market takes larger share of risk Risk transfer expansion MUFG...

    • Capital Relief Trades
      • Fannie prints fifth CIRT of 2022

        CIRT and ACIS ride high

        Fannie Mae has completed its fifth CIRT transaction of 2022, designated CIRT 2022-5, the GSE announced today (May 20). The deal transferred $733m of mortgage credit risk to 22 insurers and reinsurers. There are around 67,700 single family mortgag...

      • Risk transfer round up-16 May

        CRT sector developments and deal news

        Credit Agricole and Societe Generale are both believed to be readying synthetic securitisations backed by leveraged loan exposures. The latest deals follow rumours of another such trade from Deutsche bank (SCI 6 May). Stelios Papadopoulos ...

  • Talking Point

    • Structured Finance
      • Time for the European CRE CLO to prepare for take-off

        If all indicator lights hold true, then the European CRE CLO market is primed and ready for take-off, explains Iain Balkwill, partner at Reed Smith. Indeed, if this market manages to follow the same eye-watering trajectory of growth experienced in...

  • Market Moves

    • Structured Finance
      • Transportation investment platform founded

        Sector developments and company hires

        Onex has established a new platform focused on investing in transportation-related assets used for land, air, marine and industrial applications. The strategy will involve investments in hard assets with long lives, contractual cashflows and an eleme...

      • Principles-based cybersecurity approach urged

        Sector developments and company hires

        The SFA has responded to the US SEC’s proposed new rules to enhance and standardise disclosures made by public companies regarding cybersecurity risk management, strategy, governance and incident reporting. The association believes the prop...

      • Stonehill announces leadership additions

        Sector developments and company hires

        Stonehill is set to expand its commercial lending business with four new senior executive hires to its leadership team. Daniel Siegel, Greg Koenig, Nisu Mehta, and Taylor Pike each join Stonehill from Ardent with several decades of real estate busine...

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