Latest news
Latest news
European and high yield chiefs to take the reins
Kevin Duignan to retire after 33 years, mainly in structured finance
First European buy now, pay later securitization expected next year
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Citi is eyeing the launch of an online consumer lending service similar to Goldman Sachs’ Marcus platform, according to sources speaking with GlobalCapital at the SFIG Vegas conference. -
The capital markets industry is only just beginning to assess its exposure to the phase-out of Libor, expected at the end of 2021, and there isn’t an ideal replacement benchmark. In fact, there might not be by the time banks stop being compelled to make Libor submissions by the UK’s Financial Conduct Authority.
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New securitization rules could put EU-domiciled banks at a competitive disadvantage arranging US CLOs, if EU risk retention rules are applied in their planned form. Market participants raised the issue at a public hearing on Monday, but regulators refused to be drawn on whether they would try to cure the problem in the final version of the rules.
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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.
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Morgan Stanley analysts described the potential rollback of risk retention rules for US CLO managers as 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.
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MUFG has created a new job — global co-coordinator for origination and distribution — for its head of EMEA credit sales, Emmanuel Delattre.
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A managing director at Goldman Sachs has joined Swiss private banking group Reyl & Cie to head its new structured finance business.
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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.
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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.
