Latest news
Latest news
Blatter will be lead portfolio manager for BlackRock’s European CLO platform
Deal raises questions about whether transaction was done at arm's length
Joanna Chan is taking on the role of head of strategic capital
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Policymakers speaking at the inaugural Marketplace Lending Policy Summit in Washington DC on Tuesday promised to fix problems created by the controversial Madden case, and referred to marketplace loan ABS as critical to sustaining lenders’ growth.
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Kroll Bond Rating Agency has hired Mauricio Noé to lead a new push into the European market, where it hopes to offer ratings on the whole range of credit types, from public sector to high yield. -
The Consumer Financial Protection Bureau is awaiting the ruling in the US Court of Appeals for the DC Circuit over whether an enforcement action made against PHH Mortgage was legal and constitutional, in the first such suit against the regulator.
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It’s not just the level of delinquencies in subprime auto ABS — which in March hit a record high — that threatens to put the securitization industry back in the spotlight of public disapproval.
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Nordea said that Barclays and JP Morgan, alongside its own investment banking arm Nordea Markets, worked on its landmark €8.4bn synthetic CDO, the bank’s first and the first from the Nordic region.
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Declining primary supply, an increase in buy-and-hold investors and the retreat of dealers has turned the European securitization secondary market into a difficult, illiquid place to trade. But investors are becoming increasingly frustrated even with the dealers that remain in the business.
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Deutsche Bank has replaced its head of European ABS syndicate, Bilal Husain, with an internal switch from its credit sales team.
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More banks than ever are turning to balance sheet CDOs to hedge their loan books, with a boost from Basel plans to increase risk weights for ordinary assets. Institutions such as Crédit Agricole, Credit Suisse and Deutsche Bank have ramped up their issuance programmes, while others are entering the market for the first time, as with Nordea.
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Proposed amendments to the “simple, transparent and standardised” securitization framework show that European political sentiment towards the market is hardening, with some suggesting raising risk retention even higher than the 20% level previously put forward.
