People & Markets

  • EBA clarifies guidance on loans under moratoria

    EBA clarifies guidance on loans under moratoria

    The European Banking Authority has made it clear when loans subject to Covid-19 moratoria should be classified as forborne exposures or distressed restructurings, following calls from the industry for further guidance in this area.

  • ABS cheers TALF 2.0 but bemoans limited scope

    ABS cheers TALF 2.0 but bemoans limited scope

    The Federal Reserve continued its roll-out of initiatives to support the economy through the Covid-19 crisis this week, including the revival of the term asset-backed loan facility (TALF). However, market participants say the program is incomplete as long as it omits certain asset classes, specifically private label CMBS, and worry that some sectors will buckle without the support of the central bank.

  • Intrum tumbles as Muddy Waters takes aim

    Intrum tumbles as Muddy Waters takes aim

    Intrum’s share price dropped sharply this week after short seller Muddy Waters disclosed it was betting against the firm’s stock price. The debt purchasing sector has been a popular target for short sellers for years, but the impact of coronavirus and associated measures is a further heavy blow.

  • Triple-A CLO paper eligible for Fed's PDCF

    Triple-A CLO paper eligible for Fed's PDCF

    The Federal Reserve said this week that it would revive its Primary Dealer Credit Facility, expanding the program to include triple-A rated CLOs, as the central bank dives deeper into the crisis era playbook to stem the fallout from the coronavirus crisis.

  • SFA looks to soothe members' corporate market anxieties

    SFA looks to soothe members' corporate market anxieties

    Stress in the commercial paper market was the main point of discussion in a member-wide conference call on Monday held by the Structured Finance Association, as members tried to get a read on market dynamics that are changing on a daily basis.

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