U.K. Authority Launches Securitization Covenant Inquiry

The U.K.’s Financial Services Authority plans to put securitization covenants under the microscope to see if they affect home repossession rates.

  • 10 Aug 2009

-- Daniel O’Leary

The U.K.’s Financial Services Authority plans to put securitization covenants under the microscope to see if they affect home repossession rates. During a sweeping review of mortgage regulation, the authority will investigate if securitization covenants prompt quicker bank foreclosures on properties. A spokeswoman with the FSA ...

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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 17.31
2 Bank of America Merrill Lynch (BAML) 9,637 29 10.93
3 Citi 8,264 22 9.37
4 Lloyds Bank 7,329 24 8.31
5 JP Morgan 6,580 10 7.46

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 130,254.20 381 11.10%
2 Bank of America Merrill Lynch 104,113.90 304 8.88%
3 JPMorgan 103,048.77 303 8.79%
4 Wells Fargo Securities 93,728.92 276 7.99%
5 Credit Suisse 76,904.09 209 6.56%