FSA hits back on risk transfer proposals

Minutes from the FSA’s securitisation standing group, published on Wednesday, show the regulator standing firm on its risk transfer guidelines. The new guidelines were put out for consultation at the end of June, but have proved controversial.

  • 25 Aug 2011

The FSA is proposing that firms must get external ratings on part of any securitisation before they will be able to demonstrate Significant Risk Transfer. This means banks cannot get regulatory capital relief by selling off the risk in a loan book without involving a rating agency.

Ashley Kibblewhite, ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 10,283.03 88 5.81%
2 HSBC 10,220.20 53 5.78%
3 LBBW 8,393.04 48 4.74%
4 Natixis 7,239.94 37 4.09%
5 Barclays 7,218.44 37 4.08%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 59,952.99 273 6.02%
2 JPMorgan 58,540.64 307 5.88%
3 Citi 54,631.10 308 5.49%
4 Morgan Stanley 46,055.63 247 4.63%
5 Goldman Sachs 40,887.95 358 4.11%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 49,144.70 229 11.28%
2 JPMorgan 47,098.24 238 10.81%
3 Citi 43,129.12 240 9.90%
4 Morgan Stanley 35,486.82 174 8.14%
5 Goldman Sachs 31,020.38 303 7.12%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 5,939.43 23 6.77%
2 LBBW 5,403.66 21 6.16%
3 UniCredit 5,082.55 24 5.79%
4 HSBC 5,076.13 19 5.78%
5 Credit Agricole CIB 4,965.07 22 5.66%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 May 2016
1 Morgan Stanley 365.83 497 7.62%
2 JPMorgan 332.66 618 6.92%
3 Bank of America Merrill Lynch 299.89 590 6.24%
4 Goldman Sachs 276.71 375 5.76%
5 Citi 264.54 592 5.51%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Barclays 6,170.54 15 13.55%
2 UBS 4,233.38 20 9.30%
3 BNP Paribas 3,880.04 17 8.52%
4 Credit Agricole CIB 3,549.81 11 7.80%
5 Credit Suisse 2,989.22 12 6.57%