Weekly Issue Archive »

Issue 774 - 24th December

  • News Analysis

    • Structured Finance

      • Crucial conclusions

        EBE highlights importance of securitisation to the real economy

        A new joint study by AFME, European DataWarehouse and True Sale International demonstrates that the private cash securitisation market is a crucial element in the funding of the real economy across Europe. Data collated in the report shows that over...

    • CLOs

      • Regulatory redemption?

        European CLO sustainability disclosures eyed

        ESG investment criteria are rapidly becoming a standard feature across the European CLO market. Enhanced ESG disclosure is anticipated to be the next step in the sector’s evolution, with more information being made available by CLO managers...

    • Structured Finance

      • From strength to strength

        Landmark year for Aussie securitisation

        With A$48.79bn publicly placed across 64 individual transactions in 2021, the Australian securitisation market has reached a post-financial crisis issuance high. Record volumes, combined with the entrance of a series of new issuers and programmes - i...

    • CMBS

      • On the rebound

        Pandemic-driven CMBS bifurcation to persist

        European CMBS issuance is expected to continue rebounding in 2022, on the back of strong volumes of nearly €6bn this year. However, collateral composition of new transactions, as well as the performance of existing deals will likely reflect...

  • News

    • Structured Finance

      • SCI Start the Week - 20 December

        A review of SCI's latest content

        Last week's news and analysis Auto CRT priced Santander engineers US return Bank bonanza Massive potential of US bank CRT market stressed in Miami CAS Christmas cracker Fannie's third CRT since its return makes Q4 top of t...

    • Capital Relief Trades

      • Greek SRT finalised

        Alpha Bank closes capital relief trade

        Alpha Bank has completed a €145m synthetic securitisation that references a €1.9bn portfolio of Greek corporate and SME loans. The transaction is the third Greek significant risk transfer trade and the first Greek SRT involving mult...

      • Double first for the EIB

        EGF, first loss guarantee debuts

        The EIB Group has closed the first synthetic securitisation backed by the European Guarantee Fund (EGF), an instrument set up by the EIB Group together with EU Member States to mitigate the economic consequences of the Covid pandemic (SCI 27 May 2020...

      • MCC secures synthetic

        Italian SME counter-guarantee deployed

        The EIF is set to counter-guarantee a portfolio of 5,652 operations backed by the Guarantee Fund for SMEs, which is managed by Mediocredito Centrale (MCC) on behalf of the Italian Ministry of Economic Development. The total portfolio amount correspon...

    • CLOs

      • European CLO market weathers reset storm

        An extract from SCI's new CLO Markets service

        Ninety-nine European CLOs were reset in 2021, many more than what was anticipated at the end of 2020. The total volume, including the full equity tranche, amounts to €42.2bn. New issue volumes, meanwhile, reached €38.6bn, a new post...

    • CMBS

      • Turning tides

        WeWork CMBS winners, losers highlighted

        WeWork is set for a “strong comeback” this year, according to a new Morningstar Credit Information & Analytics (MCIA) report that analyses the company’s post-pandemic performance and its impact on the US CMBS mar...

  • Market Moves

    • Structured Finance

      • RFC issued on non-sequential amortisation

        Sector developments and company hires

        RFC issued on non-sequential amortisation The EBA has launched a public consultation on draft regulatory technical standards (RTS) specifying and, where relevant, calibrating the minimum performance-related triggers for STS synthetic securitisations...

      • Nephila taps LBR vehicle

        Sector developments and company hires

        Nephila taps LBR vehicle Nephila Capital has funded its newly launched Syndicate 2358, which focuses on short- to medium-term insurance business lines, with capital provided through Lloyd’s London Bridge Risk PCC vehicle. The transaction p...

      • Decision notice issued against BlueCrest

        Sector developments and company hires

        Decision notice issued against BlueCrest The UK FCA has published a decision notice against BlueCrest Capital Management (UK) (BCMUK) setting out its decision to impose a financial penalty of £40.81m on the firm. BCMUK has elected to refer...


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