ECB postpones wielding ABS repo axe

The European Central Bank has given ABS issuers longer than expected to provide loan-level data to the European DataWarehouse, due to come into effect in December, before losing repo eligibility. But the added costs involved will still be onerous for many borrowers, which may turn to covered bonds instead, analysts warned this week.

  • 13 Jul 2012

While the timetable for submitting data changed little, the ECB said on Friday that it would not start enforcing the rules until later — securities will be eligible for repo until the end of March 2014.

Borrowers must start submitting RMBS data from December 1, CMBS and SME-backed ...

Please take a trial or subscribe to access this content.

Contact Mark Goodes to discuss your access: mark.goodes@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 13.43
2 Rabobank 12.61
3 Morgan Stanley 10.27
4 Barclays 7.86
5 Natwest Markets (RBS) 7.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 18,561.02 56 11.69%
2 Wells Fargo Securities 18,160.90 57 11.44%
3 JPMorgan 12,092.45 38 7.62%
4 Citi 11,878.92 43 7.48%
5 Credit Suisse 9,276.87 26 5.84%