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 Citi 3,691 11 20.69
2 Morgan Stanley 2,420 6 13.57
3 Goldman Sachs 2,096 5 11.75
4 BNP Paribas 1,686 6 9.45
5 Barclays 1,565 4 8.77

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 47,881.49 152 10.77%
2 JPMorgan 41,018.47 115 9.23%
3 Wells Fargo Securities 37,061.63 106 8.34%
4 Bank of America Merrill Lynch 33,629.70 107 7.56%
5 Credit Suisse 28,660.69 86 6.45%