Latest news
Latest news
Deal raises questions about whether transaction was done at arm's length
Joanna Chan is taking on the role of head of strategic capital
Key points of contention include the investor sanctions regime and the definition of 'resilience'
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Spanish banks dodged potentially billions in compensation costs after the European Court of Justice (ECJ) kicked a mortgage dispute on to local Spanish courts, allowing borrowers to switch to a more affordable rate. While the ruling is a win for banks, it is a potential credit negative for some legacy RMBS. -
Apollo Global Management has hired Obinna Eke, the former head of US CLO syndicate at BNP Paribas.
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HSBC has made Mehmet Mazi global head of debt trading and financing, a newly created position. It comes after the departure of Elie El Hayek, a veteran of the bank who had run fixed income.
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The final templates for the EU Securitization Regulation have once again been held back from the finish line, now set to be released together alongside other technical standards, despite the templates officially passing the three-month scrutiny period.
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ICG, the asset manager, has hired Rob Faulkner as managing director responsible for European CLOs.
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The Bank of England turned up the heat on Libor this week with plans to publish a compounded Sonia index and averages in a move that will drive the transition to the new risk-free rate with a simpler coupon calculation methodology. It will also increase haircuts on Libor-linked collateral which is intended to accelerate the switch out of Libor FRNs maturing after 2021.
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Eurobank has submitted applications for the senior tranches of a securitization backed by a €7.5bn loan portfolio to qualify for the Hellenic Asset Protection Scheme, known as ‘Hercules’, making it among the first to qualify for the programme if it is approved.
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The CLO industry is expected to make an exodus from the Netherlands as managers with deals in the pipeline look to domicile their warehouses in Ireland. This follows a court ruling in the country, where up to a fifth of the market is located, which stings managers for a tax on management fees in a move that could shrink their income and reduce deal volumes. Tom Brown reports
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Metro Bank is looking to become a more profitable institution after launching a review of its strategy this week, but the lender still faces the challenge of having to raise a further £500m of debt to meet its capital needs.
