Capital Relief Trades
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SRT moves beyond its niche roots
SRT evolves rapidly as investor demand broadens and banks in...
The significant risk transfer market is entering a more mature phase, with issuance reaching record levels, investor participation broadening and banks increasingly embedding transactions into long-term capital management strategies, according to commentary from BNP Paribas Asset Management Alts.
Annual SRT issuance has risen from around €6bn in 2017 to approximately €27bn in 2025, according to data compiled by .......
News Analysis 11 August 2026
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Latest SRTx fixings released
SRT market sentiment softens in July as spreads widen and credit, liquidity concerns increase
The latest SRTx fixings for July point to a modest deterioration in SRT market sentiment as the asset class entered the second half of the year. Spread expectations moved wider across all four categories, while volatility, liquidity and credit risk indicators all pointed to slightly more challenging market conditions.
The shift is not indicative of a sharp deterioration .......
News Analysis 10 August 2026
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Wealth management assets enter European SRT market
SRT market update
SRT Market Update 7 August 2026
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Job swaps weekly: Fried Frank and Sidley expand US fund finance practice
People moves and key promotions in securitisation
This week's roundup of securitisation job swaps sees Fried Frank and Sidley strengthening their fund finance teams in New York by appointing new partners. Meanwhile, Tranchify, an AI-enabled operating system for securitisation execution, has named a new ceo and Walkers has appointed a partner in its finance and capital markets team in Dublin.
In the legal space, Fried Frank has hired Corinne Musa as a .......
Market Moves 7 August 2026
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SCI: 20 years on
Richard Robb, ceo of CRC, recalls how SCI has evolved alongs...
Every thriving industry co-evolves alongside its lead publication. Wall Street has its Journal, advertising has AdAge, and we have Structured Credit Investor. An authoritative forum for news, analysis, data and awards – it makes our industry feel more … real.
A lot has changed since SCI launched, but then again, 20 years is a long time. Looking .......
Talking Point 6 August 2026
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Singapore-based bank signals SRTs are here to stay
SRT market update
SRT Market Update 6 August 2026
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Europe's lending rebound fuels next wave of SRTs
Loan growth is rebuilding securitisation collateral, but EU...
European loan growth is rebuilding the pool of assets available for securitisation, but the more immediate effect may be stronger significant risk transfer activity as banks prioritise capital efficiency over straightforward funding needs.
European banks entered 2026 with improving earnings momentum, supported by stabilising net interest margins, stronger lending and continued fee-income growth, according to Morningstar DBRS. The rating agency expects .......
News Analysis 5 August 2026
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On the horizon: Is back leverage entering a new phase?
Back leverage is evolving as investors and regulators reshap...
Back leverage has become an increasingly important feature of the significant risk transfer market, helping investors finance positions as the asset class continues to mature.
But is the market approaching a turning point?
As SRT grows in size and attracts a broader range of participants, financing structures are evolving alongside it. Market participants suggest that banks and .......
News 5 August 2026
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Second earnings wave reinforces SRT platform shift
European and UK banks continued embedding SRTs into capital...
Deutsche Bank, ING and Raiffeisen Bank International used second-quarter results to underline the growing role of SRTs in their capital management strategies, while BAWAG highlighted their use in supporting acquisition financing. Standard Chartered identified securitisation as a potential response to Basel 3.1, while Société Générale and HSBC remained notably silent on fresh issuance despite their established position in the .......
News Analysis 5 August 2026
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Transformation and turbulence
Readers recall the key events over SCI's first 20 years
The first issue of Structured Credit Investor was published this week in 2006 and since then the publication has provided structured credit news and analysis to the buyside through ever-changing times. SCI has documented not only the evolution of the securitisation markets over the last 20 years, but also the broader transformation of risk transfer and capital formation across .......
Talking Point 4 August 2026
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SCI In Focus: Banks widen SRT reference pools to private credit financing
MUFG's latest transaction highlights banks' growing use of S...
Corporate loans continue to dominate significant risk transfer (SRT) transactions, but banks are increasingly referencing more specialised exposures as they adapt capital management tools to changing balance sheets. MUFG Bank's recently rated Furry Creek transaction, backed by financing provided to business development companies (BDCs) rather than directly to operating companies, illustrates that evolution.
The development comes as .......
News Analysis 3 August 2026
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Potential SRT deal could broaden Bulgaria's issuer base
SRT market update
SRT Market Update 3 August 2026
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Risk Control launches MDB securitisation consultation
Research aims to identify obstacles to MDB securitisation as new asset class gains traction
Risk Control is aiming to identify obstacles to multilateral development bank (MDB) securitisations through a market consultation that launched this week, as well as gauging awareness surrounding the emerging asset class. Findings are set to inform a report for the UK and Swiss governments.
The survey, conducted for the UK’s Mobilist programme – a programme that .......
News 31 July 2026
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Job swaps weekly: Blackstone appoints successor to Leonard
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees Blackstone appointing a successor to outgoing European head of liquid credit strategies Alex Leonard. Elsewhere, SMBC Group has appointed a new head of its EMEA securitised products group syndicate, while Simpson Thacher & Bartlett has named a new London-based partner in its European finance and capital markets group.
Market Moves 31 July 2026
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SRT comes of age
Beyond record activity, July revealed a broader, deeper and...
July showed an SRT market increasingly defined by institutionalisation rather than issuance alone. Europe's largest banks continued embedding SRT into long-term capital strategies through recurring programmes, while new asset classes, jurisdictions and investor channels broadened the market. At the same time, regulators, specialist platforms, secondary trading and dedicated investment vehicles continued strengthening the foundations of an increasingly global and .......
News Analysis 31 July 2026
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SCI In Conversation Podcast: Kate Galustian, BlackRock
We discuss the hottest topics in securitisation today...
In this episode of SCI In Conversation, SCI senior reporter Camilla Vitanza sits down with BlackRock's head of ABS, Kate Galustian, to discuss the firm's Global Securitized Fund. Galustian outlines the outlook for securitised markets, where the team is finding value across structured credit, and why active security selection remains a key driver of performance in today's market.
News Analysis 29 July 2026
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New issuers, specialty portfolios reshape SRT market
Specialty loan portfolios emerge as next frontier for SRT as new issuers drive market growth
The next phase of growth in the SRT market is being driven by new issuers entering the market and existing issuers expanding their programmes, while banks are also beginning to use SRTs on a broader range of specialist loan portfolios, according to Crescent Capital.
Although the firm's latest Credit Risk Sharing review projected another record year for issuance, .......
News 28 July 2026
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H1 EU and UK bank results point to sustained SRT issuance
Major European and UK banks reinforce commitment to SRTs as...
Europe's largest banks used their half-year 2026 earnings to reinforce the growing strategic importance of synthetic risk transfers (SRTs), with disclosures from Banco Santander, BNP Paribas, UniCredit and Banco Sabadell pointing to continued issuance, broader asset coverage and increasingly institutionalised capital management programmes. While the level of disclosure varied significantly between issuers, a common theme emerged: SRTs are no longer being presented .......
News Analysis 28 July 2026