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SilverRock was taken over by GB Bank in March
French RMBS volumes expected to rise as lender plans on doing more than one transaction a year
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ABS outperformed all other fixed income sectors last week, bolstered by tighter spreads, a strong revival of the new issue pipeline and a reopening of the esoteric market, say analysts at Bank of America.
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Congress set aside $60bn for small businesses in the second round of funding for the Paycheck Protection Program (PPP), but excluded fintechs from participating in distributing the funds. While fintechs thought the pandemic could be a chance to solidify their standing in the lending world, legislators have been reluctant to give them the opportunity.
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Significant risk transfer (SRT) deals have temporarily dried up following the European Central Bank’s decision to lower risk requirements for banks, but market observers say deals will still go ahead in 2020.
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Online lender LendingClub is laying off 460 employees, including the company president Steven Allocca, according to a regulatory filing on Tuesday, a broad restructuring that reflects plummeting loan origination volumes and investor demand in the time of coronavirus.
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The oil industry’s ability to raise money in capital markets is coming under severe strain, as the coronavirus pandemic is forcing all analysts to tear up their assumptions and bringing unprecedented volatility in prices.
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The ABS primary market has been restocked with seven new offerings, including four prime auto loan deals from lenders including Nissan, as demand is underpinned by confidence in the eventual rollout of government-backed programmes, as well as additional structural protection offered by issuers.
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Deutsche Bank has set up an inter-disciplinary sustainable finance team in its capital markets group, aiming to be “viewed as [a] market leader on this important subject”, as it senses that clients, including big oil and gas companies, are having increasingly to consider environmental and social issues to access the capital markets.
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The pandemic bond issued by the World Bank, which supports a pandemic financing facility for poorer countries, has now met the conditions to pay out, GlobalCapital understands.
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GM Financial priced a $790m prime auto securitization on Thursday, the first issuer to break the silence in the market since Covid-19 halted primary flows in mid March.