Latest news
Latest news
◆ EU regs plan sparks debate over treatment of secured borrowing ◆ Blistering corporate and FIG issuance but why are premiums rising in one market but not the other? ◆ UK Renters' Rights Act to impact UK buy-to-let RMBS market
New law expected to accelerate the dominance of professional landlords
Together added to the sterling market with a small ticket CRE CMBS
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Nervousness around Clydesdale Bank following a trading statement from its parent, National Australia Bank, has forced the Scottish bank to privately place its postponed Lanark RMBS through a single euro senior tranche offering.
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The rally in certain European peripheral countries driven by the recent flurry of tender offers in securitizations could prove short-lived, as analysts in London warn buy-backs alone will not solve banks’ funding needs.
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The Bank of Scotland has completed the tender offer for bonds in its Candide Financing 2005 and 2006-1 Dutch residential mortgage-backed securitizations.
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An ABS and covered bond tender from CatalunyaCaixa achieved a disappointing result this week, with just 5.6% of outstanding ABS bought back — and much of that at levels well above the minimum prices.
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The issuance of Mexican residential mortgage-backed securities rose 12.8% in the second half of 2011, though it may take another “12 to 18 months of stable economic growth in the market to show solid signs of recovery,” according to Standard & Poor’s.
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Subprime residential mortgage-backed securities are attracting investors again, with the prices on some of the bonds achieving double-digit gains since the beginning of the year. Investors say the securities are attractive now because their prices reflect a doomsday scenario that they feel will not materialize.
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Switzerland’s Federal Council has announced that the “too big to fail” amendment to its Banking Act will go into effect March 1.
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UBS has suspended several traders, including some of its most senior ones, amid an investigation into alleged collusion to influence the London Interbank Offered Rate and its equivalents in Europe and Asia.
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BNP Paribas has slashed its bonus pool for 2011 by 50% after pretax profit at corporate and investment banking plunged 40% in the fourth quarter.