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
More articles
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The last minute decision on the part of European Union regulators to introduce a potentially devastating rule to EU securitzation regulation was greeted with disbelief by market pros last month. But sources say that there are still a number of ways the mistake can be fixed. -
Ronald Borod, Boston-based senior counsel at DLA Piper, is leaving the firm this month to pursue impact investing and securitization advisory services.
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The European Commission is consulting until October on ways to deal with Europe’s non-performing loan problem, and has outlined plans for a new contractual instrument, called the ‘accelerated loan security’, to protect secured creditors from default — without enforcing security through the courts.
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European authorities' last minute change to regulatory proposals for European securitizations has the potential to cripple the supply of MBS backed by legacy mortgages by banning any European transaction that contains what regulators classify as self-certified loans. Sam Kerr reports.
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A European green bond standard and a classification system for sustainable assets were two of the suggestions issued on Thursday by a group of experts advising the European Union on how to make the financial system sustainable — one of the commitments in the Paris Agreement, writes Jon Hay.
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The Consumer Financial Protection Bureau (CFPB) has passed a rule on Monday to eliminate arbitration clauses, which stop consumers bringing class action lawsuits, in a move which could hurt the US securitization market and cause more legal trouble for the big banks. But Republicans have dug in and vowed to fight the rule.
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Barclays has hired two vice presidents in London as part of an effort to refresh its European ABS sales and trading group.
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RBS has settled with the Federal Housing Finance Agency over its underwriting of US RMBS, paying $5.5bn for the agency to withdraw its litigation, though it will receive $754m back under an indemnity. Much of the charge was already provisioned, meaning the bank will record an extra charge of only $196m in its second-quarter numbers.
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The European Commission on Monday announced that will consult with industry participants for a solution to the eurozone's non-performing loan issue, with an eye to developing a more efficient secondary market to move the paper off bank balance sheets.
