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PCS is last hope for structured finance, says BarCap

Analysts from Barclays Capital published their European ABS outlook on Thursday, arguing that the regulatory environment constitutes an "existential and now imminent threat" to securitisation in Europe.

  • 03 Feb 2012

The Prime Collateralised Securities initiative (PCS), led by the Association for Financial Markets in Europe (Afme) represents the "best, only and last hope for the asset class" according to the note.

Their argument is based on several regulatory threats to crucial investor classes — Solvency II for insurers and ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Apr 2015
1 Natixis 5,610.19 31 6.68%
2 HSBC 4,599.27 22 5.48%
3 RBC Capital Markets 4,514.99 12 5.37%
4 Barclays 4,137.75 20 4.93%
5 BNP Paribas 4,096.09 17 4.88%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 20 Apr 2015
1 JPMorgan 32,401.22 131 7.18%
2 Bank of America Merrill Lynch 30,512.11 114 6.77%
3 Citi 28,591.98 150 6.34%
4 Morgan Stanley 25,999.86 105 5.77%
5 Deutsche Bank 25,768.02 109 5.71%

Bookrunners of Dollar Denominated Covered Bond Above $1bn

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 21 Apr 2015
1 RBC Capital Markets 920.18 2 22.49%
2 UBS 790.63 2 19.32%
3 Goldman Sachs 590.25 1 14.42%
4 Citi 530.31 2 12.96%
4 Barclays 530.31 2 12.96%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Apr 2015
1 Deutsche Bank 12,954.07 39 10.35%
2 Goldman Sachs 9,242.39 23 7.39%
3 Credit Agricole CIB 8,212.92 16 6.56%
4 SG Corporate & Investment Banking 7,228.69 19 5.78%
5 BNP Paribas 6,487.70 19 5.18%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Apr 2015
1 Natixis 3,661.20 18 4.42%
2 BNP Paribas 3,400.31 12 4.10%
3 HSBC 3,025.71 13 3.65%
4 Credit Agricole CIB 2,654.35 12 3.20%
5 Commerzbank Group 2,370.49 11 2.86%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 20 Apr 2015
1 Goldman Sachs 349.62 315 7.71%
2 JPMorgan 314.45 393 6.94%
3 Morgan Stanley 291.82 474 6.44%
4 Citi 264.72 461 5.84%
5 Bank of America Merrill Lynch 245.65 417 5.42%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 21 Apr 2015
1 Credit Agricole CIB 4,774.91 4 12.60%
2 Deutsche Bank 4,708.27 11 12.42%
3 UBS 4,406.20 4 11.63%
4 HSBC 2,970.48 6 7.84%
5 JPMorgan 2,730.43 13 7.21%