RMBS

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  • Cédulas spreads to tighten as asset quality weakens

    Cédulas spreads to tighten as asset quality weakens

    The Spanish government’s decision to extend laws that prohibit tenant evictions is a blow for the credit strength of the country's covered bond and mortgage securitizations. But even so, supply scarcity will continue to have more influence on Cédulas valuations and spreads, which have already tightened this year and may well have further to go.

  • Morgan Stanley brings RMBS with new yield boost feature

    Morgan Stanley brings RMBS with new yield boost feature

    Morgan Stanley is marketing an Irish re-performing RMBS, Shamrock Residential 2021-1. The deal includes a new structural feature for the European market, which juices the yield on the portfolio by diverting a portion of principal payments to this purpose.

  • Bank balance sheets could be obscured, says Coen

    Bank balance sheets could be obscured, says Coen

    The impact of coronavirus on economies has led to extraordinary help being granted to banks and their customers. But this brings the risk of problems on banks' balance sheets being hidden, according to William Coen, former secretary general of the Basel Committee on Banking Supervision.

  • MEPs vote through harmonised NPL secondary market

    MEPs vote through harmonised NPL secondary market

    The European Parliament's Committee on Economic and Monetary Affairs (ECON) has voted through regulation to harmonise the secondary market for NPLs across Europe, pushing through a key stage of its Action Plan aimed at rebuilding the European economy post-pandemic.

  • UK RMBS market anticipates moratorium extensions

    UK RMBS market anticipates moratorium extensions

    Charities are calling for the UK government to extend the ban on evictions set to end on January 11, prompting speculation in the ABS market that mortgage moratoria will also be extended, thanks to the third lockdown now underway.

  • Libor securitizations count down to April repo deadline

    Libor securitizations count down to April repo deadline

    The European securitization market needs to whittle down its remaining ‘tough Libor’ legacy contracts without relying on help from the UK regulators, said the Association for Financial Markets in Europe (Afme) on Wednesday.

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