Latest news
Latest news
Invictus, Annaly, JP Morgan to print a billion dollars each next week
UK lender has placed €1.5bn of Dutch prime RMBS paper this year, doubling its annual issuance
Dutch mortgage provider launches its second public RMBS of the year
More articles
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The imminent downgrade by MoodyÕs of European banksÕ long-term and short-term ratings will see more than half of all UK RMBS counterparties breach their first rating trigger. Royal Bank of Scotland and Lloyds TSB face the highest exposures, but all affected banks will need to post collateral, find a third party guarantee or appoint a replacement.
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Bradford & Bingley’s Aire Valley master trust has breached its non-asset trigger, shifting all bond payments to sequential pass-through, whereby tranches will be paid in order of seniority rather than according to expected maturity. Traders reported no movement in the bonds’ price this week, however, as the trigger had been so widely anticipated.
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Santander UK managed to raise £2.25bn of funding through its Fosse 2012-1 RMBS in a week when Eurozone storm clouds were gathering over the markets. The deal offered bonds across 10 tranches, five currencies and four maturities. And for the first time since 2007, it included double-A rated notes.
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German lender DZ Bank has filed a lawsuit against Barclays in New York charging the U.K. bank with allegedly misrepresenting the quality of loans in $133.3 million in residential mortgage-backed securities it sold.
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German lender DZ Bank has filed a lawsuit against Barclays in New York charging the U.K. bank with allegedly misrepresenting the quality of loans in $133.3 million in residential mortgage-backed securities it sold.
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Santander U.K.’s prime residential mortgage securities deal Fosse 2012-1 has publicly sold two slices of AA-rated bonds, the first U.K. RMBS to do so since the crisis, signaling that issuers are now willing to meet buyside demand for paper further down the capital curve. -
The Federal Reserve Bank of New York has put off a $1.67 billion sale of collateralized debt obligation holdings from its Maiden Lane III portfolio that was scheduled for today.
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Moody’s imminent downgrade of European banks’ long-term and short-term ratings will see more than half of all UK RMBS counterparties breach their first rating trigger. Royal Bank of Scotland and Lloyds TSB face the highest exposures, but all affected banks will need to post collateral, find a third party guarantee or appoint a replacement.
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American International Group has increased its investments in non-agency commercial mortgage-backed securities and residential mortgage-backed securities by more than 64%, or $11.1 billion, since the end of 2010 to $28.4 billion at the end of the first quarter.
