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Meanwhile, BNP Paribas hires in structured finance
Two lenders entering administration should signal to others: simplify the industry
News could lead bank funding to dry up, after strong run of demand in private market
More articles
More articles
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UBS became the first European bank to look to use one year call structures to optimise the capital eligibility of its senior bonds on Wednesday, as the European Commission released details of a comprehensive package of banking reforms. -
Italian, UK and German consumer ABS deals are being readied for launch, despite calls last week that the primary pipeline was running out of steam.
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Zopa’s application for a banking licence is a clear vindication of a long-recognisable trend — as online lending platforms mature, they look to adopt the traditional models that they once appeared to shun.
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The US Department of Energy (DoE) released its updated residential Property Assessed Clean Energy (PACE) best practices framework last Friday, paving the way for the energy efficiency loan programme to scale nationwide.
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Verizon Communications’ priced its second mobile phone contract-backed ABS to strong demand on Wednesday, pulling in new investors and paving the way for future growth of what is projected to become a multi-billion dollar sector.
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Liberty Global subsidiary Virgin Media Mobile has structured a £125m private securitization backed by mobile handset loans, the first deal of its kind to be closed in the European market.
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Jefferies is marketing a second securitization backed by Lending Club collateral, but ABS players have expressed mixed reactions to the offering, citing lacklustre performance of previous deals and reports of a surge in delinquencies in loans originated online.
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Covered bond activity picked up sharply this week with as many as six deals surfacing from a wide range of lenders, even as conditions worsened.
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Fixed income volatility driven by political uncertainty should drive investors towards European structured credit, a market that is already benefiting from low supply and strong demand for bonds, according to a Bank of America Merrill Lynch research report.
