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GC Asia
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China streamlines credit ABS registration
China has announced a new registration system for credit asset-backed securitization (ABS), cutting the time it will take bankers and their clients to bring new deals to the market.
20 Oct 2020 -
EIB boosts SRT investment commitment by €1bn
The newly established European Guarantee Fund has greenlit a further €1bn lending for risk sharing products, allowing the EIB to continue investing in significant risk transfer (SRT) transactions to support European SMEs.
16 Oct 2020 -
C-PACE lender bolsters New York team to support growing demand
Petros PACE Finance, a commercial property-assessed clean energy lender, added Jerry Ellis to the business development team in its New York office. The move comes ahead of New York's expected approval of the C-PACE bill, enabling commercial property owners to tap PACE financing for new construction projects.
15 Oct 2020 -
Nearwater sets up third US Treasury conduit with Barclays
Nearwater Liquid Markets has set up a third ABCP conduit which will buy only US Treasuries, repoing them with Barclays, in a move that would help the UK-based bank manage its access to high quality collateral. The new vehicle joins existing structures Nearwater has set up with BNP Paribas and with JP Morgan.
14 Oct 2020 -
Clash at top of EU over ABS threatens market revival
The European Commission is facing pushback from the European Parliament over it turning to synthetic securitization — a market that still echoes the 2008 crisis for many legislators — to boost the ABS market and repair Europe’s economy in the aftermath of Covid-19. Tom Brown reports.
08 Oct 2020 -
People news in brief
ESM's Ruhl seconded to European Commission — Hinterkircher to retire — JP Morgan offers front office investment banking apprenticeships
08 Oct 2020 -
Bedford Row hires criminologist as ESG lead
Kevin Haines has joined non-bank originator Bedford Row Capital in order to establish ESG processes.
07 Oct 2020 -
Tang proposals ‘fatal’ for synthetic STS
Dutch MEP Paul Tang has laid out proposals to limit synthetic securitization's ability to achieve the STS label, which sources said could prove fatal to the project of bringing the preferential regulatory status to the risk transfer market.
06 Oct 2020 -
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Meet the Platform: EU green finance watchdog
The European Union’s formation of its Platform on Sustainable Finance last week marks a new phase in responsible investing. Over the past four years or so, the most influential thinkers in the market, such as the Principles for Responsible Investing, have been quietly moving back to an older interpretation of what RI means: considering the effects of investment choices on others.
05 Oct 2020 -
Insider trading risk delayed ABS deals in early 2020
Concerns around disclosure of mortgage forbearance figures and payment holidays led to deals scheduled for issuance earlier in 2020 being delayed to later in the year, as issuers feared securitization investors having access to information not widely disseminated to other investors.
05 Oct 2020
