Latest news
Latest news
PRA and FCA go much further than EU in loosening rules
Liberated issuers will still have to follow European regulations if they want to sell in EU
Citi prepares consumer ABS from Abound forward flow
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Investor thirst for Italian asset-backed paper is proving hard to quench at the moment, with bankers seeing more accounts gaining mandates to invest in Italian transactions and issuers spreading a recent revival in public ABS issuance from the country to two more asset classes. -
Improvements in the US housing market that have been better than expected have helped push loss rates lower on mortgage bonds issued prior to the financial crisis, but they still contribute to over half of losses in structured bonds worldwide, according to Fitch Ratings.
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Santander UK is ready to build on an active couple of months for UK RMBS issuers after mandating banks for the first transaction from its Fosse programme since 2012.
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Achmea Hypotheekbank has taken a route all too familiar for Dutch originators in recent times by pre-placing its latest securitization of prime Dutch mortgages within its own business group.
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Banca Sella will sell its first public securitization of Italian residential mortgages in almost a decade next week, but ABS bankers feel it will still not be enough to quench investors’ thirst for Italian paper, despite a recent increase in issuance from the country.
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Cuts to Royal Bank of Scotland’s US non-agency mortgage business may extend to its collateralised loan obligation syndicate and distressed debt businesses, and may also lead to a “rationalisation” of its agency RMBS trading desks, GlobalCapital understands.
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Rabobank’s Obvion has mandated banks for its first public STORM RMBS transaction of 2014, just as improving performance and technical factors help Dutch prime RMBS spreads challenge those of the UK at the tight end of the European market.
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Veneto Banca has wasted no time in getting more paper from its Claris RMBS platform on the market, looking to take advantage of overflow demand from its breakthrough deal in April.
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Santander UK is ready to build on an active couple of months for UK RMBS issuers after mandating banks for only the second master trust issue of the year — in the shape of its first Fosse programme transaction since 2012.
