Issue 837 - 24th March
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News Analysis
- Capital Relief Trades
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Regionals roughed up
US tier one banks set for new dawn in SRT market while regionals suffer
As US regional banks have been battered in recent days, the SRT market for larger institutions might be looking up. Indeed, suggest sources, JP Morgan Chase is poised to issue a smallish SRT trade to test out the waters. Sources add that US regulat...
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- CLOs
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Subjective issue
CLO ESG reporting gaining traction
CLO managers are increasingly investing in their own methodologies and disclosure processes to provide investors with helpful ESG information. However, as this Premium Content article shows, the subjective nature of this data remains an issue. The&...
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- Capital Relief Trades
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News
- Structured Finance
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SCI Start the Week - 20 March
A review of SCI's latest content
Last week's news and analysis Austrian SRT debuts BAWAG said to have launched first synthetic ABS CRE CRT prepped Societe Generale said to be readying CRE CRT Riding the storm Banks ready for SVB fallout Seeking standardisation Call fo...
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- Capital Relief Trades
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Capital call CRT prepped
Standard Chartered readies synthetic ABS
Standard Chartered is believed to be readying a synthetic securitisation of capital call facilities that is expected to close this year. Dubbed Hector, the transaction is riding a wave of such trades that picked up significantly in the aftermath of t...
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Risk transfer comeback
Lloyds executes synthetic ABS
Lloyds has finalized a synthetic securitisation of UK corporate loans. Dubbed Musselburgh, the transaction is the bank’s first capital relief trade to reference UK corporate loans following the execution of Leicester eight years ago (see SC...
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- RMBS
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Ringfencing the problem
Fed's SVB response calms RMBS nerves
The US Fed's swift response to Silicon Valley Bank's (SVB) collapse has calmed nerves in the US securitisation market. Although some volatility remains in the RMBS sector, conditions may stabilise further once the Fed announces its rate decision late...
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- Structured Finance
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Market Moves
- Structured Finance
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Credit Suisse AT1 write-downs 'rip up rules'
Sector developments and company hires
Credit Suisse AT1 write-downs ‘rip up rules’UBS has agreed to acquire Credit Suisse, creating a business with more than US$5trn in total invested assets and supporting the bank’s growth ambitions in the Americas and Asia...
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AlbaCore, FSI strategic partnership inked
Sector developments and company hires
AlbaCore, FSI strategic partnership inkedAustralian asset manager First Sentier Investors (FSI) has acquired a majority stake in UK-headquartered private debt firm AlbaCore Capital Group. The move is intended to diversify FSI’s portfolio ac...
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Arrow closes second credit opps fund
Sector developments and company hires
Arrow closes second credit opps fund Arrow Global Group has held a final close for its second credit opportunities fund - ACO II – at a hard cap of €2.75bn, surpassing its target of €2.5bn. The strategy focuses on...
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Long-term viability of QT questioned
Sector developments and company hires
Long-term viability of QT questionedUS banks borrowed a record amount over the last week, demonstrating the extent to which they are under pressure and also, say analysts, raising questions about the long-term viability of QT. The US Fed released its...
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- Structured Finance
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