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'
More articles
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A long-standing capital markets practitioner is leaving BNP Paribas. -
Terranova finds new ground at BNPP — BBVA appoints equity head from Commerz — Czornik joins JPM for German M&A
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Residential PACE provider Renew Financial has promoted Mary Kathryn Lynch, who has worked in finance and capital markets at the company for about three-and-a-half years, to the position of chief financial officer.
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The Association for Financial Markets in Europe (Afme) is preparing a response to the UK Financial Conduct Authority’s mortgage market consultation, to try to ensure that rules intended to help ‘mortgage prisoners’ do not hurt the broader UK securitization market.
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Edward Altman, creator of the Z-score metric predicting corporate bankruptcies, has co-founded a new company that automates credit scores for small and medium sized firms. That could help provide ratings for the SME CLO market.
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The suspension of the Woodford Equity Income Fund and the collapse of London Capital & Finance show how retail investors lack regulatory protection. This is strange, when a source of safer returns — bonds issued by large banks — is often deemed too complex and risky for the ordinary person to invest in.
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Quirks of Europe’s new Securitisation Regulation, which came into force this year and is dominating debate at this year’s IMN/Afme Global ABS conference in Barcelona, could leave CLO buyers carrying the can for failures of CLO managers to meet their regulatory obligations.
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With new regulatory frameworks in place for securitization in Europe comes another bout of uncertainty for the trajectory of the market. The stunted issuance pipeline in the first half of this year and the delay of the regulatory technical standards (RTS) for STS securitization have driven a jump in attendance at this year’s Global ABS conference, drawing 4,100 registrations ahead of the event.
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The Securitisation Regulation came into force in January but there is still room for market participants to influence the details of the rules – and the European Commission is still receptive to feedback, if only the industry will “raise its voice”, said Alexandre Linden of BNP Paribas.
