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Issue 810 - 9th September

  • News Analysis

    • Capital Relief Trades

      • Improved expectations

        Moody's raises EMEA corporate outlook

        Russia's decision to shut off the Nord Stream one gas pipeline has increased the risk of further cuts to Russian gas supplies or a complete shut-off heading into winter. The latest analysis from Moody’s notes that a halt of Russian...

      • Reinsurance roll call

        Call for new counterparties to avoid CRT overcapacity and widening prices

        The reinsurance market has thus far soaked up the CRT extra volume thrust its way this year, but unless new names enter the space both capacity and pricing will be squeezed, suggest sources. Around 30 reinsurers regularly absorb GSE product through...

    • Structured Finance

      • Setting the tone

        European ABS/MBS market update

        As the much-anticipated September restart begins to materialise, one deal managed to reopen the European and UK ABS/MBS primary markets. With additional deals being announced, investor demand and overall market conditions will be tested. Yesterday...

    • Capital Relief Trades

      • Risk transfer wave

        Leveraged loan CRTs pick up

        Synthetic securitisations backed by leveraged loan exposures have witnessed a significant pick up this year from both US and European banks. Issuance has received a boost following a regulatory push to address concentration risks on bank balance shee...

  • News

    • Capital Relief Trades

      • Full stack SRT prepped

        BDK readies capital relief trade

        Bank Deutsches Kraftfahrzeuggewerbe (BDK) is marketing a full stack capital relief trade that references a static €600m portfolio of German auto loans. Dubbed Red and Black Auto Germany nine, the trade differs from previous ones from the pro...

  • Market Moves

    • Structured Finance

      • Sustainable Fitch launches Leveraged Finance ESG Scores

        Sector developments and company hires

        Fitch Group’s ESG hub, Sustainable Fitch, has announced the launch of its ESG Scores for Leveraged Finance – the first high-coverage ESG solution for the leveraged finance industry. The ESG scores will equip the CLO investment com...

    • Capital Relief Trades

      • Risk transfer round up-8 September

        CRT sector developments and deal news

        Deutsche Bank is believed to be marketing a synthetic securitisation of corporate loans from the CRAFT programme. This would follow the recent execution of a leveraged loan CRT called LOFT 2022-1 (SCI 30 August). The last CRAFT transaction closed in...


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