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GC Asia
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Bank balance sheets could be obscured, says Coen
The impact of coronavirus on economies has led to extraordinary help being granted to banks and their customers. But this brings the risk of problems on banks' balance sheets being hidden, according to William Coen, former secretary general of the Basel Committee on Banking Supervision.
14 Jan 2021 -
People news in brief
Natixis promotes DCM bankers — Powell quits IFAD job — NatWest Markets makes Peberdy, Donaldson and Manwaring's positions permanent
14 Jan 2021 -
Student ABS lenders hit by steep declines in college enrollment
Navient is issuing the first student loan securitization of 2021 as the sector continues to battle political headlines and a decline in student post-secondary enrollment.
14 Jan 2021 -
Solar ABS outlook brightened by tax credit extension
The US solar energy market started off the New Year with a bang, fuelled by the news that solar investment tax credits will be extended for another five years. The extension will help growth in the industry and increase investor comfort in funding renewables.
13 Jan 2021 -
Magnetar fixed income strategist leaves for rideshare startup
Tom Rutledge, fixed income strategist at Magnetar Capital, has left the company to join Wapanda, a startup based in New York focused on the mobility industry.
12 Jan 2021 -
Blue Senate committee raises risks for ABS lenders
A blue Senate is posing a new threat to the ABS market, as regulators and lawmakers are set to turn their focus to consumer protection. Sherrod Brown, a critic of big banks and a loud consumer rights advocate, is now favourite to chair the Senate Committee on Banking, Housing and Urban Affairs, which could lead to a stream of headline risks for lenders.
11 Jan 2021 -
Fintechs to rely heavily on ABS despite switch to banking
Online lenders have sought ways to transform themselves into banks to gain regulatory clarity and forge long term customer relationships. Regardless of the status change, the securitization market will remain a vital funding source to the challenger banks, sources say.
07 Jan 2021 -
People moves in brief
Loynes extends syndicate responsibilities at Crédit Agricole — CS's equity sales head to join Citi — Flori starts at CEB funding team
07 Jan 2021 -
Auto issuers kick-start January ABS pipeline
Auto ABS issuers are opening up the 2021 pipeline with four deals of various size and quality, ranging from a subprime auto transaction from Arivo Acceptance to a prime loan deal from Santander. Subprime auto credit is expected to deteriorate in the next few months as loan extension programmes continue to expire.
06 Jan 2021 -
OCC approves LendingClub's Radius acquisition
LendingClub has received approval to acquire Radius Bank from the Office of the Comptroller of the Currency, completing one of the last few steps left before it can become a national bank. Under the incoming Joe Biden-led US administration, more fintechs will look to gain bank status to avoid regulatory headache and hefty costs attached to being a non-bank lender.
05 Jan 2021
