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Tej Singh leaves firm suddenly
Investor tells GlobalCapital it liked the portfolio’s diversity, data depth and sustainability impact
Bank’s €1bn transaction is most granular so far and found new buyers
Market participants gathering in Stavanger will focus on market growth
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The UK’s Financial Conduct Authority on Thursday proposed creating a synthetic Libor for three sterling and yen settings to be used after the benchmark falls out of use at the end of this year. Market participants called the move “incredibly significant”. -
The blockchain firsts in capital markets are coming quickly. DZ Bank is marketing a corporate Schuldschein that will run back office functions on a blockchain for the entire duration of the trade — the first time this has been done — while Société Générale’s subsidiary Forge is working on various permutations of trades to be issued using this form of distributed ledger technology. While blockchain tech is still in its infancy, it is set to disrupt capital markets, creating winners and losers.
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The Loan Market Association has launched its own automatic document platform, days after a survey by the industry body found that most of the syndicated loan market wants to use or already uses fintech for documentation.
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Sebastiano Laviola, director of strategy and policy coordination at the Single Resolution Board, said there is still plenty of work to do to refine bank failure rules in Europe but praised lenders for getting on well with issuing for the minimum requirements for own funds and eligible liabilities (MREL) during the pandemic.
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Rhode Island Employees' Retirement System has allocated $250m to Sycamore Tree and Neuberger Berman to invest in CLO equity and mezzanine tranches, following a new strategy that targets CLOs rather than real estate investment trusts (Reits) and master limited partnership (MLPs).
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European banks are rushing to finalise the first synthetic ABS transaction to achieve a ‘simple, transparent and standardised’ (STS) verification. The debut deal, which marks a turning point for the significant risk transfer market, has already been signed and is set to arrive in the coming months.
