Latest news
Latest news
'Important to distinguish between a systemic industry issue and a specific operational challenge' says trade body
ECB is amending the Eurosystem eligibility criteria that could affect auto ABS deals
Senior triple-As at 120bp and 130bp over
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Markets are obsessing about the Italian referendum on Sunday. Commentators are cramming everyone’s inboxes with warnings about how a 'no' vote on premier Matteo Renzi’s attempt to streamline Italy’s Senate could precipitate a fresh eurozone crisis and imperil Italy’s creaking banks.
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Industry players speaking at the IMN Investors' Conference on Marketplace Lending in New York on Thursday noted that marketplace lenders need to understand the importance of both diversifying sources of funding, and the cyclical nature of the capital markets.
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Antonio Weiss, counsellor to the secretary of the US Treasury Department, told marketplace lending participants in a Thursday conference keynote speech that highlighting regulatory gaps in borrower protection and issues around underwriting data were areas of focus for regulators.
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A deal backed by near-prime Lending Club loans issued by Jefferies will be a test for the state of the marketplace lending industry after a wave of reported losses on some outstanding deals.
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With total lending to UK households growing at its fastest pace since the global financial crisis, and house price appreciation continuing to outstrip household income growth, the Bank of England has urged mortgage lenders to maintain prudent underwriting standards.
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Investors may be welcoming the final deals of 2016 this week, amid a precarious situation in Italy and a difficult result for Royal Bank of Scotland in the Bank of England’s stress tests.
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Huntington National Bank priced its sole prime auto deal of 2016, the latest in a slew of auto ABS offerings to feature a higher amount of loans with longer terms, a trend the market views as a risk to the sector.
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Last quarter’s 3.2% US GDP growth estimates point to growing confidence in the world’s largest economy and is a sign that the era of the low rates and low growth may be drawing to a close.
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Arqiva, the UK broadcasting masts business, has refinanced a swathe of loans, partly with a sterling-only US private placement issue from its whole business securitization.