Latest Securitization People & Markets news
Everyone in debt capital markets has heard of green bonds, and most in the financial world accept that sustainability and greenness are Good Things. But for all the grand commitments and PR initiatives, understanding of the issues is still as hazy as a Beijing smog.
Barclays, Lloyds, RBS and Santander UK all priced synthetic CLOs for risk transfer purposes just before the year-end, honing their capital positions for full year 2016 reporting. Most of the deals focused on large corporates, an asset class that fuelled much of last year’s boom in risk transfer trades, as banks seek ways to get ahead of increased Basel risk weights.
There is no evidence to suggest securitization weakens credit standards, according to a Bank for International Settlements study of Italian loans to small and medium sized enterprises published on Tuesday.
Dutch MEP Paul Tang, the European Parliament’s rapporteur for the “simple, transparent and standardised” securitization framework, has defended his proposed amendments to the bill, arguing that Europe will set a “new world standard” for risk retention requirements through the measures.
Credit Suisse and Deutsche Bank have settled with the US Department of Justice, putting an end to some of the worst uncertainties hanging over both banks. But Barclays said that it had been sued by the DoJ in connection with RMBS underwriting, and that it was going to fight the case.
Banca Monte dei Paschi di Siena's share price plummeted this morning, then rebounded, then fell back again, as fears have shifted to whether the bank can remain solvent, and the Italian government moved to be ready to bail it out.
The confirmation on Tuesday morning that Lloyds had won the race to buy MBNA, the UK credit cards business owned by Bank of America, means the portfolio has little chance of returning to the securitization market.
The risk of a devastating collapse in oil and gas companies’ share prices, when investors suddenly start pricing in climate change, is one scenario financial regulators are trying to ward off with the launch of new guidelines this week, which are a milestone in the world’s response to global warming.
Rabobank, the largest mortgage lender in the Netherlands, announced on Tuesday that it was seeking to register a new Dutch covered bond programme.
The immediate irony of the securitization industry’s efforts to create a “simple, transparent and standardised” framework to boost the market is that once Europe’s politicians got hold of it, it became a complicated, opaque and idiosyncratic way of holding it back.
The latest round of Republican calls in the US for president-elect Donald Trump to fire the Consumer Protection Financial Bureau (CFPB) head Richard Cordray and roll back the agency’s influence is a real threat to American consumers.
Go to GlobalCapital's Securitization data pages for our dealflow database, plus details of priced European and US CLOs and structured finance bookrunner league tables.
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|Rank||Lead Manager/Arranger||Share % by Volume|
|2||Bank of America Merrill Lynch (BAML)||10.66|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|1||SG Corporate & Investment Banking||1,260.06||2||126,006,164,037.19%|
|3||Wells Fargo Securities||430.57||1||43,057,020,785.00%|
|4||Meritz Financial Group Inc||192.86||1||19,286,162,593.99%|