Is it accurate to say that 2024, despite the initial enthusiasm, has been disappointing so far in terms of regional bank issuance? What are the reasons behind this? Can we expect an improvement in Q4?
Is there a risk of regionals being crowded out of the market if a revised B3E proposal reduces the P factor for larger banks?
Many regional banks currently are concerned with concentration risk management. How does that figure into the decision to issue a CRT?
How should regionals evaluate a CRT transaction vs an off-balance sheet securitization or loan sale and the risk/benefits of each?
What liquidity and structural considerations should issuers contemplate when establishing a new CRT program?
How do Rating Agencies view CRT and does that impact regional bank considerations when structuring a CRT program to achieve a ratings uplift higher than issuer’s ratings.
Is CRT just a RWA trade or are there other significant benefits?
How many regional banks are now looking at this product? What about credit unions?
How hard will it be and how long will it take for regional banks to implement the processes required to get a first deal done?
What are the different motivations for regional banks vs larger banks?
How many asset managers are now looking at this product? Is there a danger of flooding the space?
What asset pools might make the most sense for regional banks?
Is there any progress on insurance companies and reinsurers getting clearance to become guarantors – as they do in Europe?
How has recent price tightening affected demand?
Will different asset pools need to be securitized to allow yields to become more attractive?
How should issuers evaluate a bilateral CRT vs. an unsecured syndicated CLN as well as the potential assets for both?
08:50 - 09:00Welcome Note & Opening Remarks
09:45 - 10:40Current State of Play
13:00 - 13:50Regulatory Process. What regulators want to see for CLN approval
14:35 - 15:20Workshop Presentation
16:05 - 17:00The Way Ahead
