Latest news
Latest news
Two lenders entering administration should signal to others: simplify the industry
News could lead bank funding to dry up, after strong run of demand in private market
L&G's head of portfolio management on everything equity release after debut deal
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The European Central Bank is said to be working with a group of eurozone countries on a plan that would allow banks to recapitalize with the help of their respective nation’s bailout funds without first going through the government, but the European Union has already said it has no plans to change its current policy barring that.
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The Financial Stability Board has published a report that calls for tougher regulations on securities financing, including repurchase agreements, over concerns that such transactions could threaten market stability.
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The performance of the prime residential mortgage-backed securities market in the U.K. remained stable in the three-month period ended Feb. 29, according to Moody’s Investors Service.
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Paul Tucker, deputy governor of the Bank of England, says regulators should have more power to control shadow banking by having the authority to impose higher collateral requirements on transactions, among other things.
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Aegon was putting the finishing touches to the first dollar 144A RMBS from a Dutch originator as EuroWeek went to press, with the deal expected to be completed on Friday. The lead managers were able to tighten pricing from guidance before launch, suggesting demand was large and investors unfazed by political moves in the Netherlands this week.
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Bradford and Bingley’s Aire Valley master trust could breach its non-asset trigger next month, altering the order of payments across the entire structure. Aire Valley bonds will become more liquid as a consequence, according to bankers, but not liquid enough to displace Granite as the RMBS market benchmark.
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UK building societies this week returned to the RMBS market and found sterling investors waiting with open arms. Some of the largest global asset managers are back on the lookout for UK RMBS, putting the building societies in a propitious position, said bankers.
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MetLife has filed suit against Morgan Stanley alleging fraud involving $757 million in residential mortgage-backed securities it bought in 2006 and 2007.
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Dutch lender Aegon Levensverzekering N.V’s Saecure 11, the first residential mortgage-backed securitization from the Netherlands to be sold in dollars, is expected to price by Friday with market officials now predicting the deal will blow open the doors for more Dutch issuers to tap U.S. investor appetite.