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GC Asia
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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.
03 Apr 2020 -
Guggenheim tops chart as IB revenues shrink
Investment banking revenue in March was lower than normal as the coronavirus pandemic sapped risk appetite — but it was far from a total wipeout.
02 Apr 2020 -
Together hires LibreMax alum for securitization role
Together Money has hired former LibreMax European ABS head Steven Harrison to oversee its loans, mortgage and finance arms.
01 Apr 2020 -
People moves in brief
Amine leaves Credit Suisse — CIFC picks new research head
26 Mar 2020 -
Ex-IBCM head Amine leaves Credit Suisse
James 'Jim' Amine has left Credit Suisse, which has folded his private credit opportunities business into a different unit.
25 Mar 2020 -
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.
24 Mar 2020 -
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.
24 Mar 2020 -
Credit specialist CIFC names new head of research
Alternative credit specialist CIFC has hired David Walker as head of research.
23 Mar 2020 -
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.
18 Mar 2020 -
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.
17 Mar 2020
