EU rescues securitization market from EU-inflicted screw-up

The European Union has fixed a regulation which would have accidentally banned securitization of many legacy assets, after an outraged response from the industry when the planned rule was published in the summer.

  • By Sam Kerr
  • 18 Oct 2017

The proposals, from the European Parliament, would have effectively banned securitization of mortgages where borrowers self-certified their income, a practice which was common before the crisis, particularly in the UK.

Now the amended plan will grandfather in any loan made before the Mortgage Credit Directive was handed down ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 111,812.59 321 13.02%
2 Bank of America Merrill Lynch 97,374.77 285 11.34%
3 Wells Fargo Securities 81,904.68 250 9.54%
4 JPMorgan 62,040.18 194 7.22%
5 Credit Suisse 44,939.65 139 5.23%