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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The European Banking Authority is set to produce a report for the European Commission by 2021 that will lay the groundwork for the regulation of the significant risk transfer (SRT) securitization market. However, participants say they are are still coming to terms with potential new requirements. -
The European Central Bank (ECB) is reluctant to give a shorter repo haircut for ABS paper, even for bonds approved for the ‘simple, transparent and standardised’ (STS) regulatory framework, a senior legal counsel for the central bank said during a panel.
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The ABS market is divided into camps over the necessity for a third level of NPL compliance, with participants coming out for and against more disclosure at a panel in True Sale International’s 2019 Conference in Berlin.
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Jesus Rio Cortes, a managing director at Bank of America Merilll Lynch in the EMEA securitization group, has joined Apollo Global Management.
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Antonio Keglevich will lead a new sustainable finance advisory team at UniCredit, aiming to originate deals across asset classes.
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The European Banking Authority has published its long-awaited discussion paper on the possibility of ‘Simple, Transparent and Standardised’ synthetic securitizations — opening the way to better regulatory treatment for risk transfer deals. That would endorse a market that frequently faces public criticism.
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National governments of the European Union have reached agreement on the law that will implement the Taxonomy of Sustainable Economic Activities, even though Germany, Austria, Luxembourg and Greece are unhappy that nuclear power has not been specifically excluded. There could be fights over that issue when the Parliament and Commission negotiate with the Council in a 'trilogue'.
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UK and European pension funds hunting for positive yields are increasingly looking to swap short to medium dated government bonds for riskier credits in high yield and structured finance.
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Speaking at ABS East on Monday morning, Allianz Global Investors chief economic advisor Mohamed El-Erian told attendees that a definitive era in the history of financial markets is coming to a close, and that the future is looking highly uncertain.
