Latest news
Latest news
UK credit card provider Jaja hires Belen Bulnes as it plans on entering the public ABS market
Thomas Picton joins as firm works to build strength in CLOs
Regulator plans to implement formulaic p-factor proposed in October 2024
More articles
More articles
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Lawyers for struggling supply chain finance firm Greensill argued in court that over 50,000 jobs could be at risk from its collapse, precipitated by the withdrawal of credit insurance. But experts in the sector with knowledge of Greensill’s exposures argue that even Sanjeev Gupta’s Liberty Alliance empire could come out ahead.
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Barclays has structured a new mortgage master issuer vehicle, raising the prospects of a return to RMBS funding for a bank which has been absent from the market for nearly a decade. The new vehicle uses the same revolutionary technology present in Coventry Building Society’s Economic Master Issuer deal, which slashes the time, cost and complexity of running these structures. -
The synthetic risk transfer market helped some of Europe’s biggest banks dodge loan losses last year, with Barclays saving more than £300m and Deutsche at least €150m. But the backdrop last year led to investors taking a tougher line on writing new credit protection, steering clear of pools with limited disclosure and hoping to dodge the most damaged sectors.
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The complexity of CLO documentation, and the need for easy access to deal info is encouraging tech providers to step into the breach and offer solutions to simplify the time-consuming processes of CLO investing. As managers adapt their deals to handle the fallout of the pandemic, good tools to handle documentary complexity have become all the more important.
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Securitizations with the ‘simple, transparent and standardised’ (STS) label have definitively started pricing better than non-STS deals for the first time since the framework’s launch in 2019, said Santander managing director Steve Gandy, speaking at Afme’s 12th Annual Spanish Capital Markets Virtual Conference.
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Fintech asset manager Pagaya hired Peter Silberstein as head of capital development, the latest addition to its asset management division. Pagaya has added five team members in the last six months, including head of originations and head of structured products.
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Tikehau Capital has appointed Christoph Zens from Commerzbank as head of the firm’s CLO business, replacing Debra Anderson who is set to retire in the second quarter of 2021.
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Boudewijn Dierick, BNP Paribas’ head of ABS and covered bonds, is leaving the bank to join Auxmoney, a German consumer lender which set up a €500m warehouse with BNP Paribas in November.
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The EU Commission is rushing to untangle legislation that would have stopped EU investors from buying Australian securitizations or covered bonds, after the country ended up on the EU’s list of non-cooperative tax jurisdictions.
