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.”

Click here to read the story from Reuters

  • 13 Jul 2007

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

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 Jul 2017
1 Bank of America Merrill Lynch 57,945.74 181 12.35%
2 Citi 57,243.86 174 12.20%
3 Wells Fargo Securities 48,214.86 152 10.28%
4 JPMorgan 33,301.70 114 7.10%
5 Credit Suisse 25,010.27 80 5.33%