Latest news
Latest news
Cash SRT pipeline fires up earlier than usual
A new European data centre sponsor, Dutch buy-to-let back in business, CLO equity squeezed and a Bitcoin backed deal
€300m of reoffered bonds priced at par, another tranche to be placed privately
More articles
More articles
-
Morgan Stanley is set to reopen the UK RMBS market with a buy-to-let portfolio it bought from India’s Axis Bank, which is winding up its UK business in the wake of the Brexit vote. -
Illimity Bank is investing up to €100m in a securitization vehicle operating in both the primary and secondary markets to purchase distressed green energy assets, the first of its kind in Italy.
-
Kensington and Precise Mortgages, two of the most frequent issuers in the UK RMBS market, have signalled a willingness to call their outstanding deals, in a sign that a rallying market is taking extension risk off the table.
-
There were more calls this week for the UK government to support non-bank lenders that are unable to access the Term Funding Scheme, with market participants preferring a simple extension rather than alternative funding options.
-
The Financial Conduct Authority (FCA) has ruled out granting a reprieve to the Libor benchmark, leaving the UK RMBS market to face transitioning legacy deals before the end of the year. That means that lenders will be grappling with the shift at the same time as borrowers will come to the end of Covid-19 payment moratoriums.
-
Finance lobby group UK Finance said that most borrowers on mortgage moratoriums could afford to resume full payments after three months, and an extended moratorium would not be in customers' best interests.
-
The UK’s Financial Conduct Authority (FCA) has encouraged banks not to record mortgage loans with payment moratoriums as being in default, delaying default related triggers designed to protect noteholders and causing concerns around RMBS deal performance.
-
The UK chancellor has doubled the mortgage moratorium period to six months, but has not allowed mortgage lenders more discretion when deciding to grant payment holidays on their mortgages. This is making RMBS performance difficult to assess, market participants say.
-
European securitization bids wanted in competition (BWIC) volume has already reached €4.6bn in 2020, the highest level since JP Morgan's research team began collecting BWIC data in 2016. The secondary market is rallying following an improved equity market and a reopened European primary.
