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GC Asia
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Dutch BTL market booming ahead of stamp duty rise
The Dutch buy-to-let market is booming ahead of an increased transfer tax on buy-to-let property, softening concerns that the pandemic would lead to a prolonged origination slump in the asset class.
02 Dec 2020 -
Biden administration ‘far more favorable’ to CRT market
The incoming Biden administration is likely to be more conducive to the development of the credit risk transfer market for the government-sponsored enterprises, according to panelists speaking at ABS East Virtual 2020.
01 Dec 2020 -
Green covered bonds 'zeroed' by EU's green Taxonomy
Green bond specialists have criticised the buildings section of the European Union’s proposed sustainable finance Taxonomy as impractical, creating unhelpful incentives and excluding most bank financing, including green senior unsecured, RMBS and covered bonds.
01 Dec 2020 -
Axa Bank Belgium and BNPP price first placed synthetic euro-RMBS
AXA Bank Belgium has become the first issuer to place a euro-denominated synthetic RMBS deal into the market, obtaining extra capital ahead of its sale to Crelan Bank.
01 Dec 2020 -
Full stack sales block payment holiday fixes
Securitization originators who sell their full capital structures hoping to deconsolidate assets could struggle to protect their deals from Covid-19 payment holidays, as targeted repurchases or liquidity support risks regulators treating deals as though they are still on balance sheet.
30 Nov 2020 -
Basel Committee takes edge off toughest part of NPL proposals
The Basel Committee has backed down from tough new changes which could have raised the costs of financing non-performing loan portfolios, allowing banks to use external ratings to assess the risk of NPL securitizations.
26 Nov 2020 -
EBA gives hope to SRT market
The European Banking Authority has lifted the spirits of those working in the significant risk transfer (SRT) market by suggesting that call options and early termination rights should not disqualify a transaction from achieving SRT recognition, pushing back on proposals made by European Parliament members.
25 Nov 2020 -
Now is not the time to rush an ESG securitization framework
An ESG framework for the European securitization market is a noble aim but the middle of this pandemic is not the time to implement it. The European Parliament needs to take its time and make sure such a regime is built to last, and not throw it in alongside emergency legislation.
24 Nov 2020 -
FCA rolls out STS deal list ahead of Brexit
The UK’s Financial Conduct Authority has launched a new platform dedicated to listing all securitizations which qualify as ‘simple, transparent and standardised’, preparing the UK securitization market for the end of the Brexit transition period.
24 Nov 2020 -
Record low rates to boost RMBS issuance in 2021
The RMBS market is expected to see more issuance in 2021, boosted by all-time lows in mortgage rates and a faster dealmaking process enabled by technology borne out of the pandemic.
23 Nov 2020
RMBS
