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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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The UK ABS market has slowed with the rest of Europe in August, with fewer investors participating in recent deals. But sources said September is primed for a strong comeback. -
BNP Paribas froze three hedge funds that had invested in subprime mortgages on August 9, 2007. Widely regarded as one of the opening events of the global financial crisis, it stands as a grim reminder and a warning to the market of what can happen when liquidity collapses.
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Despite UK assets offering juicier spreads than their European counterparts, distribution stats show little European investor participation in UK deals. That might be disappointing for UK issuers, but at least it means little to fear from a hard Brexit.
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Sky Aviation Leasing International is marketing a debut aircraft securitization, as deal volume for the sector this year inches closer to topping 2016 issuance levels.
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The European ABS market is entering into its seasonal summer quiet period, with the pipeline slowing to a trickle after a number of new transactions were priced last week.
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The World Bank has issued $360m of catastrophe bonds that provide insurance protection for Mexico in the event of three natural disasters.
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Less pristine collateral backing online consumer lender Prosper’s second multi-seller securitization did not dent demand for the bonds, which the lender priced tighter than its last deal sold in May.
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The UK ABS market is keeping a close eye on the domestic economy as the Bank of England held rates firm at 25bp on Thursday and warned of a sluggish outlook for country. Sam Kerr reports.
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The last minute decision on the part of European Union regulators to introduce a potentially devastating rule to EU securitzation regulation was greeted with disbelief by market pros last month. But sources say that there are still a number of ways the mistake can be fixed.
