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Latest news
Despite a tepid response in a 2024 consultation, there are signs EU authorities are laying the groundwork
European and high yield chiefs to take the reins
Kevin Duignan to retire after 33 years, mainly in structured finance
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UK banks printed a flurry of risk transfer securitizations just before the end of last year, hedging portfolios of corporate credit and commercial real estate totalling more than $8.5bn-equivalent. -
Sidley Austin has hired Steven Koyler to join the firm’s global finance practice as a partner in New York.
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Barclays launched a new asset-backed commercial paper conduit, Sunderland Receivables, receiving a prime rating for the new vehicle on December 24, part of a broader overhaul of the bank’s asset finance operations which has been running for the past year — and a canny move to get ahead of European regulation.
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The European Supervisory Authorities (ESAs) on Tuesday brought the risk mitigation treatment of simple, transparent and standardised (STS) ABS deals in line with covered bonds for over-the-counter derivatives contracts. The announcement follows guidelines published last week by the European Banking Authority clarifying the finer points with regard to the STS framework that comes into effect next year,
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Participants at a Transparency Task Force symposium on Monday told representatives of three UK financial regulators they welcomed their efforts to step up oversight of the financial system’s response to climate change — but they called for regulators to be more ambitious, as scientists say the world has 12 years left to get global warming under control.
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The European Parliament and the European Council have reached an agreement on a set of measures to tackle non-performing loans in the banking sector, broadly backing the European Commission’s proposals from March.
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Securitization markets involve some of the most esoteric, obscure parts of investment banking. Traders and bankers rarely court publicity, while deals are placed to a specialist subset of the fixed income buy-side. Yet, 10 years after the financial crisis, securitization affects almost every part the real economy.
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Following its debut £750m Sonia-linked covered bond issue in September, Lloyds has printed the first securitization linked to Sterling Overnight Index Average (Sonia) – Elland RMBS. The deal more than doubles the outstanding issuance in the format.
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Guidelines released by the European Banking Authority (EBA) on Wednesday brought the European ABS market much-needed clarity, as issuers grapple with new rules set to apply in the new year.
