StanChart sells synthetic CLO despite regulator’s criticism

StanChart 230x150
By Owen Sanderson
30 Jun 2015

Standard Chartered Bank has used synthetic securitization to protect a $3bn pool of trade receivables, despite recent critical comments from the Bank of England’s David Rule about this method of risk transfer.

The UK bank, which is among the world’s largest users of synthetic securitization, issued the $165m credit-linked note Sealane III to protect the mezzanine tranche on a $3bn notional ...

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