Latest news
Latest news
Blackstone is aiming to execute its CMBS before the market shuts for Global ABS
TwentyFour released IPTs with its announcement, aiming for a three-day execution
Second time it has securitized Santander-originated mortgages
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The Financial Conduct Authority (FCA) announced on Monday that it is introducing new rules to allow lenders in the UK to use a “more proportionate” affordability measure, allowing some of the 120,000 so-called ‘mortgage prisoners’ to refinance and escape high interest rates. -
Regulatory constraints could be eased for securitizations of non-performing loans (NPLs), according to a European Banking Authority (EBA) opinion paper published on Wednesday.
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Barclays is holding the risk retention for Pimco’s refinancing of the Slate portfolio — a book of Northern Rock mortgages from the bad bank UK Asset Resolution (UKAR). The US investor is buying the rest of the deal’s capital structure, repeating the approach it took with the £4.9bn ($6.29bn) Project Chester portfolio in April.
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Santander has retrofitted its Fosse Master Trust issuer as both Sonia-linked and compliant with the ‘simple, transparent and standardised’ (STS) framework in time for a new £1.25bn RMBS deal.
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UniCredit is structuring a €6bn Italian non-performing loan (NPL) securitization called Prisma, which is set to qualify for Italy’s state-sponsored guarantee scheme and will send the bank below its €10bn NPL target.
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Crédit Immobilier de France Developpement (CIFD) has cut the class ‘C’ tranche from its debut RMBS deal, chopping away the buy-to-let (BTL) part of its portfolio to snare additional benefits from the simple, transparent and standardised (STS) framework.
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Nationwide this week launched a consent solicitation to switch Silverstone Master Issuer 2018-1 from Libor to the Sonia benchmark, opting for ‘positive consent’ in asking noteholders to make the switch.
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The Bank of England should extend Libor beyond its set date of 2021 — or risk financial institutions setting their own rules.
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Libor may be extended beyond the cut-off date of 2021, sources told GlobalCapital this week, as the market braces for litigation over more than $1tr of Libor-linked mortgages. Tom Brown reports.
