EBA: No Synthetic Swerve On 122a Rules

European banks investing in securitizations will not be able to dodge investor due diligence requirements under the Capital Requirements Directive’s Article 122a by using synthetic hedging—such as credit default swaps—to shift exposures onto an unaffiliated non-regulated entity, the European Banking Authority has said.

  • 04 Oct 2011

European banks investing in securitizations will not be able to dodge investor due diligence requirements under the Capital Requirements Directive’s Article 122a by using synthetic hedging—such as credit default swaps—to shift exposures onto an unaffiliated non-regulated entity, the European Banking Authority has said.

The clarification is one of several ...

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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 15,256 32 16.83
2 Bank of America Merrill Lynch (BAML) 10,179 30 11.23
3 Citi 9,751 23 10.76
4 Lloyds Bank 7,329 24 8.09
5 JP Morgan 6,580 10 7.26

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 RBC Capital Markets 801.51 2 13.30%
2 Citi 783.55 4 13.01%
3 Wells Fargo Securities 606.78 3 10.07%
4 Credit Suisse 534.82 2 8.88%
5 SG Corporate & Investment Banking 497.64 2 8.26%