Latest news
Latest news
L&G's head of portfolio management on everything equity release after debut deal
The private equity giant previously did RMBS deals from its BINOM shelf.
Deal priced with 3bp premium to ING's Green Lion 2026-1
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The mortgage-backed and asset-backed securities markets continued to tighten last week on low supply and the search for relative yield, with analysts at Bank of America Merrill Lynch predicting further tightening of five to seven basis points in short and medium duration paper.
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Rising default rates and uncertainty over the ability of banks to make recoveries leaves Greek RMBS senior noteholders in an increasingly precarious position, ratings agency Fitch has told Euroweek Structured Finance.
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Belgium’s Royal Park Investments has filed a lawsuit against several banks, including JPMorgan Chase and Goldman Sachs, for allegedly misrepresenting the underwriting standards they used to issue the loans packaged into $3.2 billion in residential mortgage-backed securities they sold the firm.
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Berkshire Bank has filed a lawsuit against 21 banks, including Bank of America, Barclays, JPMorgan Chase and Citigroup, for allegedly manipulating the London Interbank Offered Rate, resulting in lower interest payments it received.
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Standard & Poor’s has changed its outlook on Royal Bank of Canada, Toronto-Dominion Bank and five other Canadian banks from stable to negative because of “a prolonged run-up in housing prices and consumer indebtedness.”
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Demand for prime RMBS could grind spreads tight enough to stop a rush of UK banks tapping the Bank of England’s Funding for Lending Scheme (FLS), ABS market participants told EuroWeek Structured Finance.
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The Co-operative Bank printed its Silk Road Finance 3 RMBS at 135bp over three month Libor on Thursday, with strong demand from banks and asset managers driving the year’s tightest pricing for a deal of this kind.
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European corporate bond issuers — and even financial institutions — enjoyed some of their best ever funding conditions this week, in a bizarre disconnect with the extreme strain on Spain and Italy’s finances.
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Securitization officials are split over the impact the Bank of England’s Funding for Lending Scheme will have on U.K. issuance in the second half of the year.