Senior European Paper Seen As ‘Safe Haven’

Senior tranches of European residential mortgage-backed securities and consumer- loan asset-backed securities in Europe are being viewed as a “safe haven” from the fallout of the historic downgrade of the U.S. sovereign by Standard & Poor’s, according to London-based market participants.

  • 08 Aug 2011

Senior tranches of European residential mortgage-backed securities and consumer- loan asset-backed securities in Europe are being viewed as a “safe haven” from the fallout of the historic downgrade of the U.S. sovereign by Standard & Poor’s, according to London-based market participants.

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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) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

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1 Citi 74,266.46 209 13.33%
2 Bank of America Merrill Lynch 64,298.92 202 11.54%
3 Wells Fargo Securities 55,583.74 178 9.98%
4 JPMorgan 40,447.01 140 7.26%
5 Credit Suisse 30,239.23 97 5.43%