S&P Admits Nearly $5 Bln Fumble In Subprime Review

  • 13 Jul 2007
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Standard and Poor’s has downsized its original estimate of residential mortgage-backed securities placed under review to $7.35 billion from $12.1 billion, reports Reuters. “This is obviously sloppy by S&P,” said Mirko Mikelic, a fund manager at Fifth Third Asset Management. “I don’t think anyone’s doing back flips.” Mikelic added the market has been very sensitive to subprime news.

S&P’s original announcement drove investors to government bonds as a benchmark subprime index fell to an all-time low. “It was an error and we corrected it,” said Adam Tempkin, S&P spokesman. “It was human error. It is what it is.”

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  • 13 Jul 2007

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
  • 27 Mar 2017
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%