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  • An uptick in the three year federal student loan default rate is not likely to dampen the performance of Federal Family Education Loan Program (FFELP) ABS, but will be a drag on household balance sheets.
  • Lone Star’s portfolio of Hyatt properties and a Hong Kong fund’s loan on the Standard Hotel in Manhattan are both expected to surface in the CMBS market soon, as JP Morgan warns the sector still has credit concerns worthy of more attention.
  • SRI
    With 65m people displaced worldwide, the refugee crisis can seem insurmountable. But despite this daunting scale, initiatives are being tried that could help some of those affected. Citigroup’s charitable foundation is giving $2m to a project to train refugees for the job market and entrepreneurship, in Greece, Jordan and Nigeria.
  • The Wild West days are not over in the cryptocurrency market, but the shoots of a more civilised and reliable market are beginning to poke through.
  • The Financial Stability Board (FSB) has laid out what it believes are the critical elements required for the governance in the provision of unique product identifiers (UPI) for the derivatives market.
  • Once again, fintech was a hot topic at the annual ABS East conference in Miami Beach last month. But unlike in the past, the focus was not on the newest trend among marketplace lenders or payments companies, which are looking more like run of the mill banking institutions, but on how technology will enhance, digitize and eventually automate financial services.
  • For politicians looking for policy tools, bank capital regulations are a blank canvas. But using prudential regulation to direct lending to favoured causes lacks transparency, obscures difficult decisions and piles up risks.
  • The European Investment Bank (EIB) has picked two banks to run the books for its eighth sterling trade of the year.
  • Investors got another chance to build up more exposure to the UK’s flourishing challenger banking sector on Tuesday night when JC Flowers, the US private equity firm, launched another block trade of shares in OneSavings Bank.
  • The decision to strip AIG of its designation as a systemically important financial institution (Sifi) says more about the arbitrary and confusing nature of the Sifi designation process, rather than the American insurance giant’s importance in the US financial system.
  • Details have emerged on the €3.675bn-equivalent of loans for French telecom companies Altice and its subsidiary SFR, as the companies launched similar refinancing facilities into syndication.
  • High yield and emerging market crossover issuer Puma Energy saw demand of more than $2bn for a seven year non-call three year bond on Tuesday, prompting the issuer to slash pricing and increase the size of the trade.