Santander said to be among banks targeting first synthetic STS deals

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Santander said to be among banks targeting first synthetic STS deals

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The Banco Santander logo is seen on a mobile device in this photo illustration on March 17, 2019 in Warsaw, Poland. Banco Santander is based in Santander, Spain and is Europe's fifth largest bank. (Photo by Jaap Arriens / Sipa USA) | Jaap Arriens/SIPA USA/PA Images

European banks are rushing to finalise the first synthetic ABS transaction to achieve a ‘simple, transparent and standardised’ (STS) verification. The debut deal, which marks a turning point for the significant risk transfer market, has already been signed and is set to arrive in the coming months.

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