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 12,508 23 18.18
2 Bank of America Merrill Lynch (BAML) 8,059 25 11.72
3 Lloyds Bank 5,761 18 8.38
4 Citi 5,606 15 8.15
5 JP Morgan 5,007 7 7.28

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 90,620.08 256 11.16%
2 Bank of America Merrill Lynch 77,768.99 216 9.58%
3 JPMorgan 68,302.06 194 8.41%
4 Wells Fargo Securities 67,736.13 189 8.34%
5 Credit Suisse 54,172.98 137 6.67%