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Artificial intelligence’s capabilities could speed up some of the work involved in securitization, but its implementation poses risks. Building governance frameworks is key to deploying the technology safely, writes George Smith
Specialist mortgage lenders are optimistic that funding for asset-backed lending will improve in the long run, despite the difficult developing situation around the fall of specialist bridging lender Market Financial Solutions, writes Tom Hall
Investor appetite for CLO ETFs is increasing in Europe, as the asset class matures. But regulation and investor wariness may limit the eventual size of the market, writes Thomas Hopkins, meaning it will be some time before it can reach the scale of that in the US
The possible further internationalisation of the covered bond market will present challenges as well as opportunities
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The European Central Bank has indicated that it is looking into how to mitigate the direct costs that years of negative rates have put on banks, and analysts are growing concerned that a tiered interest rate system might be put in place.
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There were widespread hopes earlier this year that not only would Italy’s Garanzia sulla Cartolarizzazione delle Sofferenze (GACS) scheme be extended, but it would also include a provision for loans classified as unlikely-to-pay (UTP). -
Sustainable finance is bubbling with exciting new initiatives. But making people feel good is not enough. Activity needs to produce results, and so far there is more noise than movement. The tone is far too sedate — it needs some hard core activism to break the torpor.
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Covered bond spreads are expected to widen if the European Central Bank increases its deposit rate from minus 0.4% to 0% across its whole portfolio. But some market participants think the ECB will adopt a tiered approach to the €2tr of excess liquidity held on deposit, which should not greatly affect covered bond spreads.
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UniCredit has settled with US authorities and agreed to pay about $1.3bn for breaking US sanctions, but the Italian bank said this amount was fully covered by provisions.
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The UK government is consulting on legislation to abolish Section 21 evictions, dubbed ‘no-fault evictions’, in order to stop private landlords from removing tenants at short notice. The change in the law would effectively create open-ended tenancies in England and Wales.
