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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A switch in regulator from the Bank of Spain to Europe’s Single Supervisory Mechanism and more regulatory certainty has reopened a route to capital raising for Spain’s banks — synthetic securitization. -
Working capital solutions provider Demica has announced new hires that will add expertise in the securitization and fintech sectors.
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At least two European banks are pitching bespoke structures to insurers that allow them to invest in securitizations without incurring the punishing capital charges laid out by Solvency II, but other market participants warned against the instruments, and argued that banks should fulfil the spirit, not just the letter, of regulation.
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Vanishing liquidity in the ABS market is pushing spreads on many asset classes to their widest levels in a year. But worse could follow. Market insiders fear regulators stand not only to destroy the very arena they hope can drive growth, and subsequently financial strength, back into the economy, but they could be ushering in the next crisis. Sam Kerr reports.
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Peter Cui has joined Natixis in London for ABS and CLO trading.
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Market participants remain split on the likely effectiveness of the European Commission’s simple, transparent and standardised (STS) securitization proposals, with the potential for fragmented interpretation still seen as a key potential stumbling block for the plan.
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A syndicate banker who left RBS in October last year started at Wells Fargo this week.
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Credit Suisse reported a loss of Sfr6.44bn for the fourth quarter of 2015, as the bank’s restructuring ramped up and it crammed exceptional items into last year’s numbers. Like Deutsche Bank in the third quarter, a chunky goodwill writedown was the main culprit. But the bank also suffered from its exposure to leveraged loans.
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Barclays has cut a structurer from its primary ABS business in Europe, following last year's sweeping cuts to its secondary business.
