People & Markets - All Articles

  • Fitch appoints Paladino as North America head of structured finance

    Fitch Ratings appointed Michael Paladino as the new head of structured finance for North America, its latest update from a global reshuffle.

    • 25 Nov 2020
  • EBA gives hope to SRT market

    The European Banking Authority has lifted the spirits of those working in the significant risk transfer (SRT) market by suggesting that call options and early termination rights should not disqualify a transaction from achieving SRT recognition, pushing back on proposals made by European Parliament members.

    • 25 Nov 2020
  • Now is not the time to rush an ESG securitization framework

    An ESG framework for the European securitization market is a noble aim but the middle of this pandemic is not the time to implement it. The European Parliament needs to take its time and make sure such a regime is built to last, and not throw it in alongside emergency legislation.

    • 24 Nov 2020
  • Student loan forgiveness remains looming nightmare for market, sources say

    Student loan forgiveness has been one of the main pillars of Joe Biden’s election campaign, worrying student loan securitization specialists in the sector since early this year. With Biden’s inauguration around the corner, market participants are scrambling to prepare for new regulations that could impact their student loan ABS investments.

    • 24 Nov 2020
  • FCA rolls out STS deal list ahead of Brexit

    The UK’s Financial Conduct Authority has launched a new platform dedicated to listing all securitizations which qualify as ‘simple, transparent and standardised’ (STS), preparing the UK securitization market for the end of the Brexit transition period.

    • 24 Nov 2020
  • Schroders targets pandemic opportunity with new private securitized fund

    Schroders has closed a new private credit fund, which will use a mix of securitized bonds, warehouse lines, direct loans and other instruments to target dislocated opportunities as the impact of the Covid-19 pandemic plays out in credit markets.

    • 23 Nov 2020
  • Goldman changes UK IB and ECM leadership

    Goldman Sachs has appointed new heads of its UK investment banking and EMEA equity capital markets businesses.

    • 20 Nov 2020
  • Market pushes back on ‘rushed’ ESG criteria for securitization

    The securitization market is pushing back against proposals in the European Parliament to tack a green framework for ABS deals onto existing discussions about NPL and synthetic securitizations that were supposed to be rapid-fire amendments to help the market fight off Covid-induced economic woes. Tom Brown reports.

    • 19 Nov 2020
  • Calabria pushes pedal on GSE reform before Biden takes office

    The Federal Housing Finance Agency (FHFA) issued its final capital rule on Wednesday, mandating more capital for Fannie Mae and Freddie Mac to ensure they exit conservatorship on a ‘sound capital footing’. The agency’s progress towards privatisation could be limited by the likelihood that President-elect Joe Biden will switch out FHFA boss Mark Calabria for a Democratic pick.

    • 19 Nov 2020
  • SCIO Capital reunites Deutsche ABS veterans with new advisory board

    Investment firm SCIO Capital has appointed three ABS professionals to its newly founded advisory board, reuniting a group of Deutsche Bank veterans who worked at the bank in the early 2000s.

    • 19 Nov 2020
  • EU auditor: CMU ‘results still to come’

    The European Court of Auditors has said that the EU’s Capital Markets Union still needs a lot of work and that obstacles to capital flowing across borders often relate to national laws. It also did not see signs of growth in the securitization market.

    • 12 Nov 2020
  • Parliament passes securitization ‘quick fixes’

    The European Parliament voted on Tuesday to pass a package of amendments to the securitization framework aimed at freeing up bank balance sheets and increasing lending to the real economy. The so-called "quick fixes" were left largely unchanged, helping the proposals push quickly on to the trilogue process.

    • 11 Nov 2020
  • Covid-19 will reshape US student debt more than Biden

    US president-elect Joe Biden’s student debt relief plan is a dialled down version of what Democratic candidates were proposing on the campaign trail in the run up to the 2020 election. But rather than focus on the incoming president’s priorities, observers should be thinking about the lasting impact of the Covid-19 pandemic on the $1.6tr of outstanding student debt.

    • 10 Nov 2020
  • ECB supervisor’s bad bank dream faces huge obstacles

    The European Central Bank is offering renewed support to the idea of the EU creating a ‘bad bank’ or an asset management company to manage a flood of non-performing loans engulfing European banks, fuelling expectations that this will be part of the European Commission’s forthcoming NPL strategy. Jon Hay and Owen Sanderson report.

    • 05 Nov 2020
  • Alantra targets performing loans with new securitization build-out

    Alantra, the boutique investment bank in Spain, wants to expand its securitization franchise beyond its existing strengths in NPL deals, boosting its position as an advisor for specialist lenders in performing credit and structurer of risk transfer deals for Europe’s smaller banks. Francesco Dissera, who started at the firm in mid-October, will lead the team’s growth efforts.

    • 05 Nov 2020
  • Market pushes back on STS lobby proposals for CLOs

    The Alternative Credit Council (ACC) has recommended allowing CLOs to obtain a ‘simple, transparent and standardised’ (STS) certification to increase the flow of funding to European borrowers. Investors have pushed back on such proposals, however, citing the heavy due diligence needed to invest in STS deals.

    • 04 Nov 2020
  • Alantra hires head of securitization from Santander

    Francesco Dissera, head of securitization at Banco Santander, is joining Alantra’s newly created securitization team.

    • 03 Nov 2020