Capital Relief Trades
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European bank points to low-cost capital benefits after second SRT deal
SRT market update
SRT Market Update 29 June 2026
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SCI In Focus: B3E comments address eligible guarantor lacuna
Ball bounced into agencies' court
A common plea in the letters from trade associations, lobby groups and individual firms, which piled up thick and fast at the end of the Basel Three Endgame (B3E) comment period on June 18, is for a recalibration of the vexed eligible guarantor rules.
News Analysis 29 June 2026
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Broader US auto CLN market brings greater pricing differentiation
Expanding issuer participation highlights investors' increas...
US auto credit-linked note issuance has broadened meaningfully since the segment first emerged in 2020-2021, when it consisted of JPMorgan and Santander trades. The latest 10 transactions now include issuance from Ally, Huntington and Truist, alongside the sector’s earlier issuers, building a more established market.
Auto loans are already a benchmark securitisation asset class but CLNs offer investors exposure .......
News Analysis 26 June 2026
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Job swaps weekly: Aon and Carlyle make key hires
People moves and key promotions in structured credit
This week's roundup of structured credit job swaps is led by The Carlyle Group's appointment of James Dunn to head European liquid credit. Elsewhere, Aon, Standard Chartered and several firms across the ratings, legal and servicing sectors have announced senior hires and promotions.
The Carlyle Group has appointed James Dunn as partner and head of European liquid credit. .......
Market Moves 26 June 2026
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True sale SRT marks first defence-focused securitisation in Europe
SRT market update
SRT Market Update 25 June 2026
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EU funds explore platform structures to scale SRT back leverage
SRT market update
SRT Market Update 23 June 2026
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Washington debates capital rules as banks double down on CRT
US banks are lobbying for lower capital requirements, but CR...
US banks are pressing regulators for lower capital requirements across trading, derivatives and counterparty exposures, but the industry's latest lobbying effort may ultimately reinforce rather than diminish the role of CRT markets.
In a joint letter submitted to the Federal Reserve, FDIC and OCC, industry groups ISDA, SIFMA and the Institute of International Finance argued that the agencies' .......
News Analysis 23 June 2026
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On the horizon: Does cash SRT's growth indicate next phase of risk transfer?
Cash SRT is evolving fast. We're exploring where it's headed – and we'd like your views
Synthetic structures still dominate the significant risk transfer market, but cash SRT is increasingly moving from the sidelines to the strategic agenda of European banks.
Recent transactions suggest the market is evolving beyond occasional balance sheet exercises. Italian consumer lender Compass recently completed its third cash SRT in as many years under the Quarzo programme, while News 22 June 2026
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Capital divergence could fuel Europe's next wave of SRT
US deregulation and stricter European rules are creating sha...
US-led bank deregulation is beginning to reshape the competitive position of the world’s largest banks, with US institutions gaining capital flexibility while European peers face rising requirements and stronger incentives to manage balance-sheet consumption.
Alvarez & Marsal’s second Bank Deregulation Primer finds that US regulatory changes could release around 160bp of CET1 capital, alongside 113bp of leverage relief, .......
News Analysis 19 June 2026
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B3E re-proposal comment period ends, increased bank lending targeted
New rules tempt bank back to mortgages, indicating perhaps more SRT
The re-proposed Basel III Endgame (B3E), for which the comment period concludes today (June 18), incorporates plans to make mortgage lending for banks more attractive and this could, in turn, boost the US SRT market, say onlookers.
Banks originate only .......
News Analysis 18 June 2026
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Spanish bank prints new dollar prime auto CLN
SRT market update
Santander Bank has priced its debut prime US auto loan CLN of 2026, a US$279m risk transfer deal designated SBCLN 2026-A.
This is the borrower’s tenth auto CLN, and it was last seen in the market in December 2025.
SRT Market Update 18 June 2026
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Fragmented rules and ample capital to keep Asian SRT market niche
S&P says abundant capital and patchy regulation will...
South and Southeast Asia's SRT market is likely to remain small and fragmented, with regulatory uncertainty compounded by a lack of demand from well-capitalised banks, according to a recent S&P Global Ratings’ report.
The agency says that, unlike in Europe and the US, most jurisdictions in the region either lack formal SRT frameworks or do not permit .......
News 17 June 2026
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US loan performance patchy
Various areas in distress, but none as yet to worry SRT
Federal Family Education Loan Program (FFELP) ABS defaults rose for the second straight quarter in Q1, Fitch reported today (June 16), amid generally worsening but unevenly spread loan performance across assets in the US.
The rating agency expects moderately elevated .......
News Analysis 16 June 2026
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Single-name CRTs emerge in digital infrastructure financing
SRT market update
SRT Market Update 16 June 2026
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Europe can double SRT market
Mortgage SRT and insurers emerge as key battlegrounds in EU securitisation reform
European policymakers should use the ongoing securitisation reform to unlock mortgage SRT transactions and expand the role of insurers as providers of credit protection, according to a discussion paper published by Paris Europlace ahead of trilogue negotiations. The paper argues that residential mortgage portfolios represent the biggest untapped growth opportunity for the European SRT market, but warns that .......
News 15 June 2026
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Schroders expands SRT push with senior hire from CQS
The London-based investment firm has hired Bob Paterson from...
Schroders Capital has appointed Bob Paterson as head of European SRT and ABF investments, creating a new senior role as the asset manager seeks to expand its presence across structured credit, SCI has learned.
Paterson joins from Manulife CQS Investment Management, where he helped build the firm's ABF platform and support the growth of its SRT franchise. .......
News 15 June 2026
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Job swaps weekly: Chorus appoints deputy cio, while Barings expands senior lineup
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees Chorus Capital appoint Aidan McKeown as deputy cio, further strengthening its investment team as the specialist SRT manager. Meanwhile, Barings has expanded its senior lineup, while Golub has named a new co-president.
The Maples Group has launched a corporate trust offering from its London office, enhancing the company’s ability to .......
News 12 June 2026
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SRT enters a more selective era
As SRT volumes rise, investors are focusing increasingly on transparency, governance and execution
The Global ABS conference’s SRT track this week highlighted a market entering a new phase of maturity, with speakers arguing that future growth will depend less on investor appetite and more on regulation, operational sophistication and issuer quality. While market participants pointed to continued double-digit growth, expanding investor participation and growing interest from regions such as the Middle East, .......
News 11 June 2026
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