Latest news
Latest news
Hire follows launch of new asset backed finance fund
Karen Anzalone joins law firm's structured finance and securitization practice
Bank continues to build in priority area
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A tie-up with real estate firm Grivalia will allow Eurobank to accelerate the reduction of its non-performing exposures, the Greek lender said on Monday. The country’s banks normally face equity dilution from writing down bad loans, under a law relating to deferred tax credits (DTCs), but Eurobank has found a structural way to get around that. -
On Thursday, the Bank of Greece revealed plans to manage the banking sector’s non-performing loans through securitizing them in a vehicle capitalised by the banks’ deferred tax credits (DTCs) — the latest move to speed up the push to clean up lenders’ balance sheets in the country.
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The frequency of devastating wildfires has rocketed in California over the past two years. Camp Fire, still burning through California, looks set to wipe out a catastrophe bond, leading to sharp questions about how to model and price an emergent risk to companies, buildings and people when this is bundled out to the capital markets.
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The next few months in the run-up to Brexit will bring upheaval for debt capital markets and syndicate teams at London’s investment banks, as they work out which roles will have to be done from the European Union and which staff to move. But the pressure will not cease on March 29, as national regulators have considerable scope to compel banks to relocate jobs. Jon Hay reports.
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National Australia Bank is planning a further expansion in UK RMBS, using its balance sheet strength to muscle into the burgeoning specialist finance market. The bank is hiring for the team, and plans to build a lasting presence.
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Some investment banks are beginning to move debt capital markets and bond syndicate bankers from London to the EU 27 because of Brexit, or are preparing to do so. Every bank is tackling the issue in its own way, but the common view that in the bond market only trading and sales people would have to move is now looking less tenable.
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The Special Situations Group at Goldman Sachs has structured private financing vehicles based in Luxembourg, which package up bundles of loans made by the group with an average rating of B/B-. The vehicle will also hold risk retention interests for Goldman-sponsored securitizations.
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The European Parliament will push for stronger rules on sustainability for investment firms and banks, after its Economic and Monetary Affairs Committee voted on Monday evening to go beyond what the European Commission is recommending.
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Chris Woolard, executive director of strategy and competition at the UK’s Financial Conduct Authority, has warned mortgage bankers about the explosive grow in the lifetime mortgage section of the market — a move driven partly by regulatory changes for the UK’s life insurers.
