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Latest news
Structured Finance Association CEO Michael Bright previews major industry event
PRA and FCA go much further than EU in loosening rules
Liberated issuers will still have to follow European regulations if they want to sell in EU
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Securitization spreads began their recovery before the Federal Reserve officially started financing holders of the bonds via its Term Asset-Backed Securities Loan Facility (TALF) this month, confirming for many in the market that the program is too narrow to be of great use. However, sources say that investors can still find attractive returns by tapping TALF funds for off the run sectors like private student loan and floorplan ABS. -
The pandemic has put the brakes on a decade of economic expansion that was firmly driven by the strength of the US consumer and a rebuilt household balance sheet in the wake of the 2008 crisis. The sudden upending of consumer finances and soaring unemployment are just a foretaste of the new risks that the consumer ABS market is dealing with, and investors are in uncharted waters as the crisis moves into the summer. Jennifer Kang reports.
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The Small Business Administration is scheduled to stop taking new applications for Paycheck Protection Program (PPP) loans in two weeks, but following the months long scramble for rescue funds, sources say legal pitfalls of the program could leave lenders on the hook for any missteps.
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Alternative investment manager Pretium Partners has hired Charlie Himmelberg as senior managing director and head of macro research.
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Hewlett Packard Enterprise is preparing a small ticket equipment securitization backed by loans and leases on IT equipment. With the massive shift to remote working, HP is seeing uneven demand for its products, with orders for in-home supplies increasing while the need for office equipment, such as printers, has dropped significantly.
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European securitization could see an influx of investors re-enter the market in light of experts' recommendations of better regulatory treatment in a Capital Markets Union (CMU) report.
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Could capital market instruments help the world prepare for or react to another pandemic? Those who have spent the last few years designing these types of tools for natural disasters have some ideas.
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The coronavirus pandemic has catapulted capital markets forward in time. Things thought impossible have come about — above all, a sustained flow of credit through a harsh economic downturn. But are the markets heading for utopia or dystopia?
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Hertz filed a motion to reject the leases on approximately 30% of the rental fleet included in its securitization master trust, a move that would significantly cut costs for the bankrupt car rental company. If granted, the rejection would have repercussions for subordinated bond holders and set a precedent for future ABS bankruptcies, sources say.
