Latest Securitization People & Markets news
Two veterans of the European securitization market have launched an independent structured finance research firm, Integer Advisors. It issued its first mailout on Tuesday, covering the European Banking Authority's public hearings on securitization held on Monday.
Morgan Stanley analysts described the potential rollback of risk retention rules for US CLO managers was a “modest positive” for the market on Tuesday, adding $10bn to their 2018 issuance forecast, but they warned that credit quality could suffer in new deals because of the scarcity of leveraged loans.
MUFG has created a new job — global co-coordinator for origination and distribution — for its head of EMEA credit sales, Emmanuel Delattre.
A managing director at Goldman Sachs has joined Swiss private banking group Reyl & Cie to head its new structured finance business.
Premier Oil’s restructuring last year was a test for the risk transfer market, as the different synthetic securitizations exposed to the troubled firm reacted very differently. The European Banking Authority wants to see a tougher approach and more consistency in the market, which could hurt some firms’ ability to transfer risk.
Macquarie Group is seeking to hire a US ABS director for its credit markets team as it looks to grow its presence in US esoteric ABS sectors, including whole business, marketplace lending and renewable energy finance.
Morningstar Credit Ratings has named managing director of RMBS and ABS Brian Grow as president, as the rating agency eyes a growing esoteric securitization market in 2018.
The European Covered Bond Council (ECBC) has launched a consultation seeking market feedback on draft guidelines for a standardised European energy efficient mortgage.
Fannie Mae has quietly become a powerhouse in green securitization. In 2017 it issued $27.6bn of green mortgage-backed securities, dwarfing all other issuance ever.
In a big vote of confidence in the CLO product, the District of Columbia Court of Appeals ruled on Friday that CLO managers should be exempt from risk retention requirements, vindicating the arguments put forward by the Loan Syndications and Trading Association against federal regulatory agencies.
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.
Go to GlobalCapital's Securitization data pages for our dealflow database, plus details of priced European and US CLOs and structured finance bookrunner league tables.
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Latest news by market and league table performance
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
|1||Bank of America Merrill Lynch (BAML)||7,026||25||11.95|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|2||Bank of America Merrill Lynch||10,472.90||27||9.88%|
|3||Wells Fargo Securities||9,632.91||31||9.09%|