Market Moves

  • Italian mid-cap deal debuts

    Sector developments and company hires

    Italian mid-cap deal debuts
    illimity Bank has closed what is believed to be the first securitisation backed by a portfolio of 82 unsecured loans granted to Italian mid-caps and corporates that are predominantly guaranteed by the country’s export credit agency SACE. Dubbed Colt SPV, the €570.11m transaction was originated based on the ‘Liquidity decree’, enacted in June 2020 to help .......

    Market Moves 21 December 2022

  • NPL data templates introduced

    Sector developments and company hires

    NPL data templates introduced
    The EBA has launched NPL transaction data templates, aimed at introducing information standardisation to increase the efficiency of secondary markets for non-performing loans and to reduce entry barriers for smaller banks and investors. The proposed NPL transaction data templates are built on previous voluntary loan-by-loan templates and consider the experience of market participants from the sell- .......

    Market Moves 19 December 2022

  • Transitional disclosure measures urged

    Sector developments and company hires

    Transitional disclosure measures urged
    In a letter to the EBA, EIOPA and ESMA, the SFA and 12 other trade associations have requested a pragmatic supervisory approach to the disclosure requirements under the EU Securitisation Regulation (SECR) while the regulators review the current requirements. The associations argue that transitional measures are needed following the European Commission’s interpretation in its recently released .......

    Market Moves 16 December 2022

  • CLN rating pressures eyed

    Sector developments and company hires

    CLN rating pressures eyed
    US midsized banks’ utilisation of CLNs to drive share repurchases or to increase leverage could result in negative rating pressures, Fitch suggests. The rating agency notes that for midsized banks, CLNs may have a material impact on regulatory capital ratios, as the reference pools comprise a larger portion of overall lending than for large banks.

    Market Moves 14 December 2022

  • 'Big Bang 2.0' to repeal Sec Reg

    Sector developments and company hires

    ‘Big Bang 2.0’ to repeal Sec Reg
    The UK government has introduced a Financial Services and Markets (FSM) Bill to Parliament, which will repeal retained EU law (REUL) and replace it with a comprehensive Financial Services and Markets Act (FSMA) model. Commonly known as ‘Big Bang 2.0’, the bill contains detailed proposals – outlined in a draft statutory instrument (SI) .......

    Market Moves 12 December 2022

  • Survey suggests improved sentiment

    Sector developments and company hires

    Survey suggests improved sentiment
    KBRA has published the results of its December survey of European structured finance investors, which was conducted to gauge their views and expectations regarding the market. The report reveals a more positive picture than the rating agency’s previous investor survey from June.

    “While many challenges remain for the European securitisation sector, sentiment for the market .......

    Market Moves 9 December 2022

  • UK mortgage refinanceability eyed

    Sector developments and company hires

    UK mortgage refinanceability eyed
    DBRS Morningstar has analysed the loan-level information of almost 400,000 loans within 36 portfolios of securitised UK mortgages to assess how rising interest rates affects affordability ratios, which borrowers are the most vulnerable and how many mortgages are expected to revise their rates in the short term. The findings suggest that within the owner-occupied segment, about .......

    Market Moves 8 December 2022

  • BWIC template released

    Sector developments and company hires

    BWIC template released

    Real estate standards organisation MISMO has released a BWIC standard template aimed at facilitating the bidding process for MBS between mortgage originators and dealers. The standard has achieved ‘candidate recommendation’ status, .......

    Market Moves 6 December 2022

  • Marble Point acquisition agreed

    Sector developments and company hires

    Marble Point acquisition agreed

     

    Market Moves 2 December 2022

  • RWA overhaul mooted under Basel 3.1

    Sector developments and company hires

    RWA overhaul mooted under Basel 3.1

     

    The PRA has released a consultation paper on the UK implementation of Basel 3.1 rules, Market Moves 1 December 2022

  • Fitch launches new ESG ratings

    Sector developments and company hires

    Sustainable Fitch has launched new ESG Ratings for global labelled structured bonds and covered bonds. The news follows its opening of ESG Ratings, Data & Analysis for North American, UK, and European corporates and financial institutions earlier this year. The latest addition will see Sustainable Fitch offering entity ratings, framework ratings, and .......

    Market Moves 29 November 2022

  • Unrepresentative 'synthetic' Libor mooted

    Sector developments and company hires

    Unrepresentative ‘synthetic’ Libor mooted

     

    The UK FCA has published a consultation on a proposal to require - using its powers .......

    Market Moves 25 November 2022

  • Call for urgent review of SA output floor

    Sector developments and company hires

    Call for urgent review of SA output floor
    AFME has published a study, commissioned from Risk Control, examining the impact on the European securitisation market of the introduction in 2025 of the Standardised Approach output floor. The study finds that securitisations of large corporate and SME loans are likely to be severely negatively impacted by the rule change, while securitisation .......

    Market Moves 22 November 2022

  • ESG activation consortium launched

    Sector developments and company hires

    ESG activation consortium launched
    Dexai-Etica Artificiale, Establecimiento Financiero de Crédito, European DataWarehouse (EDW), Hypoport, Unión de Créditos Inmobiliarios, Università Ca’ Foscari Venezia and Woonnu have launched the ‘Engage for ESG Activation Investments’ (ENGAGE) project, which .......

    Market Moves 17 November 2022

  • Conflict of interest charge settled

    Sector developments and company hires

    Conflict of interest charge settled

     

    The US SEC has charged .......

    Market Moves 15 November 2022

  • Liquidity event shows ABS 'did its job'

    Sector developments and company hires

    Liquidity event shows ABS ‘did its job’

     

    The volume of European ABS and CLO bonds listed on BWICs between the UK government’s ‘mini-budget’ announcement .......

    Market Moves 14 November 2022

  • Alternatives ESG disclosure template launched

    Sector developments and company hires

    Alternatives ESG disclosure template launched

     

    A group of leading alternative asset managers and industry bodies in the private and broadly .......

    Market Moves 10 November 2022

  • Irish, UK NPE disposals inked

    Sector developments and company hires

    Irish, UK NPE disposals inked

     

    The Bank of Ireland has reached agreements to dispose of portfolios of Irish and UK non-performing exposures, through two .......

    Market Moves 9 November 2022

  • Policymakers urged to address securitisation 'strategic loss'

    Sector developments and company hires

    Policymakers urged to address securitisation ‘strategic loss’ 
    A group of nine organisations representing key participants in the European securitisation market have written a public letter to EU policymakers, calling on them to take urgent targeted measures to ensure that securitisation can support the European economy during a testing period marked by macroeconomic uncertainty. The letter highlights how securitisation volumes in .......

    Market Moves 7 November 2022

  • Call for Och 'feud' to end

    Sector developments and company hires

    Call for Och ‘feud’ to end
    Sculptor Capital Management’s independent board members and Jimmy Levin, the firm’s current cio and ceo, have issued statements in response to a recent court filing related to a dispute brought by former chairman and ceo Daniel Och. The filing mentions a “personal issue” from Levin’s past, which was thoroughly reviewed at the time and .......

    Market Moves 3 November 2022

  • Euro CLO footprint established

    Sector developments and company hires

    Euro CLO footprint established

     

    Cross Ocean Partners has completed Bosphorus .......

    Market Moves 2 November 2022
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