Bank holding preferences could hit MBS market

Large US banks are shifting their mortgage bond exposure into hold-to-maturity accounts to dodge the impact of rising interest rates on their regulatory capital holdings, a trend that could undermine market performance in the long run, according to JP Morgan analysts.

  • By Alexander Saeedy
  • 10 Sep 2018
Since the end of 2016, the top 10 bank holders of agency MBS have increased the amount of pass-through securities in hold-to-maturity (HTM) accounts by nearly $140bn, the JP Morgan analysts wrote on Monday. Over the same period, equivalent securities held in the available-for-sale (AFS) account dropped by ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 117,261.12 337 11.09%
2 Bank of America Merrill Lynch 94,721.79 272 8.96%
3 JPMorgan 92,612.23 269 8.76%
4 Wells Fargo Securities 82,597.19 239 7.81%
5 Credit Suisse 69,442.99 183 6.57%