Latest news
Latest news
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
Citi prepares consumer ABS from Abound forward flow
More articles
More articles
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A trio of deals hit ABS screens this week, with a Crédit Agricole consumer deal following the pricing of a Spanish credit card transaction and an Irish RMBS backed by a mixed pool of performing and non-performing loans. -
Online consumer lender Upstart achieved new tights on a securitization that was priced on Wednesday, with spreads ratcheting tighter by 35bp-110bp across the capital stack.
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The second Swiss auto ABS of 2017 achieved the neatest pricing a syndicate banker could hope for — printing at 0%, 1% and 2% coupons for the class ‘A’, ‘B’ and ‘C’, respectively, all placed at par and through the tight end of initial price thoughts.
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Ally Bank has created an Irish special purpose entity (SPE) for a new prime auto from a new loan shelf titled Juniper Receivables DAC, which is backed by loans with longer terms and higher risk collateral.
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European ABS issuers have rushed the primary pipeline this week, bringing as many as seven deals to market as the push to year end begins.
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The Bank of Italy published estimates for last year’s bad loan recovery rates on Tuesday, showing that the speed of disposal for non-performing loans is increasing gradually in Italy.
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The Cleveland Federal Reserve issued a report last week sounding the alarm on the effect of marketplace loans on consumer balance sheets, and while market players have acknowledged some of the criticisms as valid, the industry has hit back against comparisons to the pre-crisis mortgage market.
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Hot on the heels of PSA’s UK auto lease ABS last week, Close Brothers announced Orbita Funding 2017-1 on Monday as the steady stream of UK auto ABS shows no sign of diminishing.
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Axiom Alternative Investments, a London-listed investment advisory firm, is seeking to raise up to £500m of new equity capital, to invest in Europe’s banking revival by buying debt securities.
