Industry eyes carving SPVs out of clearing

European member states could keep securitization and covered bond SPVs out of clearing and margin requirements, according to a draft European Market Infrastructure Regulation (EMIR) compromise published last week.

  • By Jean Comte
  • 23 Nov 2017

Securitization SPVs and covered bond issuers do not have to abide by these obligations under today's rules. But the Commission proposed last May to add them to the list of “financial counterparties” that are obliged to follow such requirements.

The move was part of a set of ...

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
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2 JPMorgan 380,255.75 1735 8.23%
3 Bank of America Merrill Lynch 360,270.83 1308 7.80%
4 Goldman Sachs 268,034.61 924 5.80%
5 Barclays 267,242.43 1081 5.79%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
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1 HSBC 45,449.36 196 6.57%
2 BNP Paribas 38,734.80 217 5.60%
3 Deutsche Bank 37,615.10 139 5.44%
4 JPMorgan 34,724.19 118 5.02%
5 Bank of America Merrill Lynch 33,835.53 112 4.89%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 22,475.00 105 8.66%
2 Morgan Stanley 19,057.00 101 7.34%
3 Citi 17,812.08 111 6.86%
4 UBS 17,693.89 71 6.82%
5 Goldman Sachs 17,332.64 99 6.68%