EC marches on with sovereign securitization plans

The European Commission is forging ahead with plans to introduce sovereign bond-backed securities (SBBS), despite market participants’ lack of enthusiasm for the project.

  • By Craig McGlashan, Jean Comte
  • 16 May 2018
A draft proposal seen by GlobalCapital on the instrument, whose aim is to tackle the “bank-sovereign” nexus by effectively allowing banks to diversify their holdings of ultra-safe assets, is the latest step by the Commission to introduce SBBS. One of the plans is to treat SBBS equally to ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Barclays 12,042.98 14 11.09%
2 JPMorgan 10,337.24 14 9.52%
3 Citi 9,260.37 15 8.53%
4 NatWest Markets 8,487.83 7 7.82%
5 HSBC 7,587.14 11 6.99%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 27,251.43 66 12.49%
2 HSBC 20,140.01 43 9.23%
3 JPMorgan 18,703.30 46 8.57%
4 Deutsche Bank 17,160.97 23 7.87%
5 Bank of America Merrill Lynch 15,557.62 48 7.13%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 22,577.73 42 8.83%
2 Barclays 20,703.19 33 8.10%
3 UniCredit 16,899.52 41 6.61%
4 HSBC 16,717.03 54 6.54%
5 BNP Paribas 16,072.48 29 6.29%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 48,779.09 221 7.54%
2 Citi 48,311.77 163 7.47%
3 HSBC 42,458.91 147 6.57%
4 Barclays 38,146.39 117 5.90%
5 Deutsche Bank 34,770.24 92 5.38%