Capital Relief Trades
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Hard test gets harder
SRT issuance perhaps boosted by EBA Q&A
The recent Q&A from the European Banking Authority (EBA) rejecting Federal Reserve Economic Data (FRED) as adequate for lower risk weights afforded to US commercial real estate (CRE) exposure could raise SRT issuance, say market experts.
The so-called “hard test” .......
News Analysis 2 April 2026
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Debut SRT on starting blocks
Singapore bank readies new corporate loan deal
DBS Bank is expected to close its landmark SRT transaction within the next two weeks, SCI has learned, in what could mark the start of a pickup in Singaporean issuance.
The imminence of this deal was earlier reported by .......
News 2 April 2026
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Job swaps weekly: USS and Venn ink strategic private credit partnership
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees USS acquire a majority interest in Venn Partners, strengthening its position as a private credit provider to the residential housing sector. Elsewhere, KPMG Law has bolstered its services in the real estate sector with a raft of key hires, while i80 Group has beefed up its analytics capabilities.
Universities Superannuation .......
Market Moves 2 April 2026
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Fed SME capital shift puts SRT role in focus
Fed proposals to ease SME capital rules raise questions over future demand for SRT structures
Proposed changes to US bank capital rules aimed at boosting small business lending are likely to have indirect implications for SRT, despite no explicit reference in the policy discussion.
In remarks at CBA LIVE 2026, Michelle W. Bowman of the Federal Reserve outlined plans to lower risk weights on small business loans, including a reduction from 100% .......
News 2 April 2026
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Synthetic green SRT unlocks fresh lending in Poland
SRT market update
SRT Market Update 1 April 2026
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SRT gathers pace as capital deepens and the market finds its groove
Monthly roundup of SRT market activity
The European SRT market continues to build momentum in early 2026, with strong investor demand, expanding issuer participation and increasing structural sophistication - all of which reinforce its position as a core component of bank capital management.
A defining theme across recent activity is the continued shift towards programmatic issuance, as banks move beyond one-off transactions and embed .......
News Analysis 31 March 2026
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Canada SRT issuance picks up as credit unions enter
SRT market update
SRT Market Update 31 March 2026
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Balancing SRT regulatory safeguards and market innovation - part one
In the first instalment of a two-part primer on the SRT mark...
SRT transactions are a key capital management tool for financial institutions worldwide and their utilisation is set to grow as banks seek to optimise their balance sheets further and mitigate risk. However, the regulatory environment continues to evolve, with the next 12 months likely to play an important role in the interplay between regulatory safeguards and market innovation. In .......
Talking Point 31 March 2026
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No SRT? Australian bank deal shows the workaround
Australian bank explores capital-light deal, highlighting ho...
Australia’s risk transfer market may not be growing in the way global investors expect, but it is evolving, and Bank of Queensland (BOQ) is offering one of the clearest signals of where it is heading.
At a time when international investor interest in Australian risk transfer is rising, BOQ is exploring a forward flow-style “capital partnership” involving the .......
News Analysis 31 March 2026
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Brussels lender preps debut SRT, not yet in market
SRT market update
SRT Market Update 30 March 2026
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SCI webinar: Repeat issuance reshapes SRT market dynamics
SRT markets shift toward programmatic issuance, say panellists
SRTs are becoming an increasingly embedded tool within banks’ capital management frameworks, driving a shift in market dynamics towards programmatic issuance and, with it, a long-anticipated phase of market maturity. This evolution was a central theme at last week’s SCI webinar, ‘From Debut to Durable: How European Regional Banks Build Programmatic SRT Platforms’.
Issuers rarely approach their .......
News 30 March 2026
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Job swaps weekly: Vantage, Schonfeld and S2G lead hires
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees Vantage Data Centers appointing a new global CFO. Elsewhere, Schonfeld has hired a head of structured credit and S2G has named a co-head for its special opportunities investment team.
Vantage Data Centers appoints Scott Beasley as global CFO, based in Denver. He will oversee the firm’s global finance, accounting, capital markets, .......
Market Moves 27 March 2026
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SCI In Conversation Podcast: Ralf Loewe, Aareal Bank
We discuss the hottest topics in securitisation today...
In this episode of SCI in Conversation, SRT reporter Dina Zelaya speaks to Ralf Loewe, managing director and head of treasury at Aareal Bank, about the bank’s current SRT strategy. He reflects on Aareal Bank’s first SRT deal last year and outlines the bank’s forward-looking plans for its balance sheet de-risking toolkit. Ralf also offers an overview of the current .......
News Analysis 25 March 2026
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SRTs still offer a spread premium over ABS despite tightening
Tristan Teoh, head of European secured finance at Insight Investment, answers SCI's questions
As SRT transactions continue to gain traction among institutional investors, asset managers are increasingly positioning the asset class as a core component of structured credit allocations. Against a backdrop of tight spreads in public markets and growing bank issuance, Insight Investment is using SRTs to access diversified credit exposure while targeting incremental yield.
Q: How is Insight positioning .......
News 25 March 2026
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PRA renews focus on genuine risk transfer
UK regulator clarifies that capital relief must align with m...
The UK’s Prudential Regulation Authority (PRA) has provided SCI further clarity on its assessment of SRT, reinforcing the long-standing message that capital relief must reflect real risk transfer, not just structural design.
Under the PRA’s Supervisory Statement SS9/13, transactions must demonstrate both a meaningful transfer of credit risk to third parties and a corresponding reduction in capital requirements. As the regulator notes, this involves assessing “whether there has been .......
News 25 March 2026
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ECB keeps eyes open
Regulator warns of risks
While recognizing that SRT transactions are now an important part of European banking capital management, increasing use of these structures “may create system-wide vulnerabilities if not properly managed, notably through leverage effects, rollover needs and the dependence on the resilience of protection providers,” notes Pedro Machado of the ECB supervisory .......
News 24 March 2026