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The $4.5m rap on the knuckles for Deutsche Bank’s CMBS trading desk for taking advantage of an opaque system of secondary trading should come as no surprise. The market revels in its lack of transparency, so don’t expect change any time soon. -
In the week Belgium announces its first green bond roadshow, the national motto (Eendracht maakt macht in Dutch) aptly captures the real importance of the European Commission’s new roadmap on sustainable finance, which lays out a panoply of actions Europe could take to green its financial system. That is: unity makes strength.
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Tesla’s first outing in the securitization market was greeted with much fanfare from investors, with the electric car maker pricing its deal on Thursday to huge demand.
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Trade associations representing derivatives and capital markets have published a road map that they hope will lay the path to a smooth transition away from “ibor” interest rate benchmarks.
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The European Banking Authority’s plans to level the playing field for synthetic securitization could raise the cost of such deals for banks supervised by the European Central Bank’s Single Supervisory Mechanism (SSM), slowing down a market which has boomed in the last two years, and forcing banks to look elsewhere for capital relief.
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Online subprime lender Elevate Credit has tapped former PayPal and loanDepot executive Brian Biglin as chief credit officer.
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PACEfunding, a California-based residential Property Assessed Clean Energy (PACE) finance firm, is looking to drum up interest at next month’s SFIG conference at Las Vegas for its debut securitization.
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Investors are showing endless appetite for consumer ABS so far in 2018, with auto, student and marketplace loan deals meeting with huge demand and subprime auto spreads hitting record tights.
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Tech giants Amazon and PayPal are again set to attend the SFIG IMN securitization industry gathering in Las Vegas next month, with both firms expanding their small business lending efforts and eyeing capital markets financing.
