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Latest news
Deal raises questions about whether transaction was done at arm's length
Joanna Chan is taking on the role of head of strategic capital
Key points of contention include the investor sanctions regime and the definition of 'resilience'
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Credit Suisse is aiming for the next batch of National Credit Union Administration’s re-securitized legacy bonds, looking to compete with Barclays Capital for the rights to structure and market the $15 billion portfolio, according to an official close to the issue.
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J.G. Wentworth, the Radnor, Pa.-based specialty finance company, has completed a $265 million securitization of payment rights under structured settlement and fixed-annuity purchase contracts.
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WestLB has named Matthias Renner, its current head of securitization, to replace Volker Bruehl as head of corporate finance at the German bank.
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Spelling out the positive benefits for end-users is the most effective way for the securitization industry to get its message across to European lawmakers and regulators, Vicky Ford, member of the European parliament and a Conservative party spokeswoman on economic and monetary affairs, said in her keynote address to the Global ABS conference this morning.
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Concerns are being raised over small, for profit and state-based student loan servicers’ ability to maintain the U.S. Federal Family Education Loan Program guarantee on their originated loans as servicing standards decline, according to a New York-based consumer ABS investor at a major insurance firm.
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Trustees administering residential mortgage securities could demand changes to securitization documentation if investigations from the New York and Delaware state’s attorneys-general lead to litigation, according to market participants.
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Market supervisors must ensure that banks value their assets more prudently in the post-crisis securitization market, Thomas Huertas, alternate chair of the European Banking Authority and executive committee member at the Financial Services Authority, said in a keynote speech on Tuesday afternoon. -
Future Capital Partners has appointed Robert Jolliffe to a senior investment advisory position in its structured debt and asset management group.
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Europe’s asset-backed securities market continues to offer attractive yields for investors, but still faces liquidity concerns and major regulatory hurdles, according to Dominic Swan, global head of fixed-income at HSBC and senior adviser to HSBC CIO.
