Volkswagen lease deal opens up STS securitization market
Volkswagen on Wednesday announced the first securitization eligible for the ‘simple, transparent and standardised’ (STS) treatment, bringing an auto lease transaction arranged by Lloyds two and a half months after the new Securitization Regulation went into effect, on January 1.
“Timing-wise it is a positive,” said Gordon Kerr, head of European research global structured finance at DBRS. “If anything, it is a relief, because we are now two and a half months into the new regulations."TSI was only just approved last week and has approved a transaction, so ...
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