Senior European Paper Seen As ‘Safe Haven’

Senior tranches of European residential mortgage-backed securities and consumer- loan asset-backed securities in Europe are being viewed as a “safe haven” from the fallout of the historic downgrade of the U.S. sovereign by Standard & Poor’s, according to London-based market participants.

  • 08 Aug 2011

Senior tranches of European residential mortgage-backed securities and consumer- loan asset-backed securities in Europe are being viewed as a “safe haven” from the fallout of the historic downgrade of the U.S. sovereign by Standard & Poor’s, according to London-based market participants.

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

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1 Citi 13,091.24 36 12.23%
2 Bank of America Merrill Lynch 10,472.90 27 9.79%
3 Wells Fargo Securities 9,632.91 31 9.00%
4 JPMorgan 9,162.38 30 8.56%
5 Credit Suisse 4,676.43 10 4.37%