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Latest news
Andrew Steel is joining to help ARC Ratings expand its corporate finance and private credit services
Initial pricing set for Santander’s two euro ABS deals
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The European Supervisory Authorities (ESAs) on Tuesday brought the risk mitigation treatment of simple, transparent and standardised (STS) ABS deals in line with covered bonds for over-the-counter derivatives contracts. The announcement follows guidelines published last week by the European Banking Authority clarifying the finer points with regard to the STS framework that comes into effect next year, -
A niche corner of the interbank lending market between Western and emerging market financial institutions has been thriving behind the scenes of volatility in public EM markets, as its activity spreads across regions and innovation in its financing products flourishes, writes Ross Lancaster.
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Consumer spending habits have changed beyond recognition since the financial crisis 10 years ago. US households are more wary of debt and are turning away from many of the traditional avenues of spending that have driven ABS markets for decades. While the market has come back since the depths of the crisis, securitization in 2019 is a different beast.
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The European Union’s new securitization regulations come into effect on January 1, a year after publication. Market participants hope they will help spark an industry revival, 10 years on from the global financial crisis. But lingering concerns could stall issuance of European ABS as 2019 gets under way.
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The securitization market has been to the brink and back. From the depths of the financial crisis, the market faced huge obstacles before it was able to stage its impressive comeback in the last five years. Max Adams charts some of the highs and lows for the market in the decade since Lehman Brothers’ collapse and the financial crisis.
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Participants at a Transparency Task Force symposium on Monday told representatives of three UK financial regulators they welcomed their efforts to step up oversight of the financial system’s response to climate change — but they called for regulators to be more ambitious, as scientists say the world has 12 years left to get global warming under control.
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Securitization markets involve some of the most esoteric, obscure parts of investment banking. Traders and bankers rarely court publicity, while deals are placed to a specialist subset of the fixed income buy-side. Yet, 10 years after the financial crisis, securitization affects almost every part the real economy.
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London has peaked as Europe’s capital markets hub. But how much of the business it will lose is still to play for. Bankers’ faith that only some functions need go looks misplaced. The stage is set for a drawn-out poker game between banks wanting to stay in London and continental regulators who hold a strong hand.
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With a new owner, revamped management team and a change of headquarters, solar securitizer Spruce Finance is looking to chart a course forward following a turbulent couple of years in which the solar loan originator's early backers are said to have been "wiped out."
