Latest news
Latest news
PRA and FCA go much further than EU in loosening rules
Liberated issuers will still have to follow European regulations if they want to sell in EU
Citi prepares consumer ABS from Abound forward flow
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Five Oaks has partnered with Credit Suisse to issue a $272m RMBS deal backed by prime jumbo mortgages. The real estate investment trust partnered with JP Morgan to bring previous deals. -
Santander UK has restructured the Holmes master trust to make sure its bonds meet the standards for the European Banking Authority’s Liquidity Coverage Ratio, so that banks will be able use Holmes RMBS notes in category “2B” of their liquidity buffers.
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The European Securities and Markets Authority has criticised the rating process for European mortgage securitizations after a study of the four largest rating agencies that it began in October 2013.
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The resignation of Starwood Waypoint’s chief accounting officer (CAO) just after the pricing of the issuer’s first single family rental (SFR) securitization has been seen as a red flag by some market participants, but secondary market trading has not suggested a negative reaction to his departure.
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Despite the turmoil in the wider Russian markets, the Russian domestic asset-backed market may still have a bright long term future — but the asset class will need heavy support from state institutions.
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The European Investment Bank and Société Générale’s asset backed commercial paper conduit are buying parts of a new residential mortgage backed security for a group of Italian cooperative banks, according to a prospectus filed with the Central Bank of Ireland.
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Starwood Waypoint Residential Trust filed an SEC notice on Friday stating that the company’s chief accounting officer John Farias resigned from his post on Monday. His resignation comes as Starwood Waypoint seeks to finalise its first single-family rental securitization.
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This year’s European ABS issuance volumes have only just crept above those of 2013, but there has been a greater variety of deals encouraged by tighter spreads and the resurgence of certain asset classes. Banca Popolare dell’Alto Adige’s resale of RMBS notes this week exemplifies a trend that is set to strengthen in 2015 as deal economics improve.
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An Italian public holiday could keep Banca Popolare dell’Alto Adige from pricing its secondary reoffering of RMBS notes until the middle of this week, with accounts also taking time to do credit work on the rare name.
