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
More articles
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The risk of property price falls has been overshadowed by worries about sovereign defaults and now figures lower in many bank risk managers’ assessments than at any time since 2008, said the Bank of England this week.
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Scottish retail lender Clydesdale Bank is on the road with a residential mortgage securitization from its Lanark Master Trust RMBS program.
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Future issuance from U.K. retail lender Northern Rock’s Gosforth securitization program is unclear following the sale of the bank to Virgin Money.
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The default rates of loans in European residential mortgage-backed securities are expected to remain suppressed into next year despite rising unemployment in downgraded countries, according to Moody’s Investors Service.
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Europe’s securitization market will continue to see new issuance until year-end, but the bulk of those deals are expected to be privately placed, according to London-based ABS professionals.
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Barclays Capital, Deutsche Bank, JP Morgan, and Royal Bank of Scotland are roadshowing a new issue from Clydesdale Bank’s prime RMBS master trust, Lanark. The deal comes as the UK lender, wholly owned by National Australia Bank, faces refinancing the maturities from its government-guaranteed covered bond programmes – £500m on November 11, with a further £750m scheduled to redeem December 9.
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Small and medium-sized Spanish banks are at a greater risk of collapse than their large peers because of regulations that force financial institutions to hold bigger reserves against real estate loans considered “unsellable”, according Pablo Cantos of MaC Group, a risk adviser to Banco Santander. Click here to read the story from Bloomberg.
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British banks have reduced their interbank lending to the peripheral eurozone by nearly 25% over the past three months in light of the worsening European debt crisis.
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U.K. residential mortgage-backed securities have performed better than RMBS in the U.S. and Europe as the U.K. has not experienced the problematic lending practices in the former or the debt crisis in the latter.