Latest Securitization People & Markets news
European authorities' last minute change to regulatory proposals for European securitizations has the potential to cripple the supply of MBS backed by legacy mortgages by banning any European transaction that contains what regulators classify as self-certified loans. Sam Kerr reports.
The European Investment Bank (EIB) and other market actors are working on a system to match investors’ views on what is a ‘green’ bond with suitable deals in the market.
A European green bond standard and a classification system for sustainable assets were two of the suggestions issued on Thursday by a group of experts advising the European Union on how to make the financial system sustainable — one of the commitments in the Paris Agreement, writes Jon Hay.
The Consumer Financial Protection Bureau (CFPB) has passed a rule on Monday to eliminate arbitration clauses, which stop consumers bringing class action lawsuits, in a move which could hurt the US securitization market and cause more legal trouble for the big banks. But Republicans have dug in and vowed to fight the rule.
Barclays has hired two vice presidents in London as part of an effort to refresh its European ABS sales and trading group.
RBS has settled with the Federal Housing Finance Agency over its underwriting of US RMBS, paying $5.5bn for the agency to withdraw its litigation, though it will receive $754m back under an indemnity. Much of the charge was already provisioned, meaning the bank will record an extra charge of only $196m in its second-quarter numbers.
The European Commission on Monday announced that will consult with industry participants for a solution to the eurozone's non-performing loan issue, with an eye to developing a more efficient secondary market to move the paper off bank balance sheets.
Cadwalader Wickersham & Taft has hired a former associate general counsel at Goldman Sachs for its securitization practice in Washington, DC.
Barclays has poached a senior fixed income capital markets banker from Morgan Stanley as it reinvests funds into its corporate and investment bank.
Online small business lender Funding Circle announced the hires of Joanna Karger and Richard Stevenson as the US head of capital markets and chief compliance officer respectively, as the platform looks to broaden its investor base.
“What were they thinking?” cried the European ABS market this week as the full impact of what originally seemed like an innocuous ban on an already illegal mortgage product became clear.
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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Most Viewed: Securitization
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
|1||Bank of America Merrill Lynch (BAML)||4,759||19||12.03|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|1||Bank of America Merrill Lynch||57,210.26||177||12.39%|
|3||Wells Fargo Securities||47,551.45||149||10.30%|