ABS

  • Bank expands Asia development group

    BNP Paribas has appointed Sam Shi in the newly created role of sales director, Greater China, for asset owners and asset managers. Based in Hong Kong, he will lead the bank's business development activities targeted at key institutional investor clients in China, Hong Kong and Taiwan.

    Shi was most recently a sales and relationship manager at Brown Brothers Harriman.

    .......

    Job Swaps 31 May 2011

  • US ABS remains stable

    Although housing-related sectors suffered during the recent economic downturn, ratings on US ABS have generally remained stable, S&P says. More specifically, 94.3% of triple-A rated US ABS maintained their ratings or were paid off in full during the last 12 months, the agency says.

    Despite continued high unemployment rates, upgrades continued to dominate auto loan ABS rating transitions during the .......

    News Round-up 31 May 2011

  • Structured trade finance md appointed

    The Bank of Tokyo-Mitsubishi (BTMU) has appointed Erich Michel as md and head of the structured trade finance group within its investment banking division for the Americas (IBDA). He will be responsible for growing BTMU's trade finance business throughout the Americas, while working closely with the bank's regional offices. He will report to Yoshihiro Kubo, group head of the commodities .......

    Job Swaps 31 May 2011

  • Further woes for Greek SF

    Fitch has downgraded 38 tranches (35 RMBS and three ABS) of 16 Greek SF transactions (comprising 13 RMBS and three ABS). Further, all Greek tranches have been placed on rating watch negative (RWN).

    The rating actions follow the agency's downgrade of Greece's long-term foreign and local currency issuer default ratings (IDRs) to single-B plus and placement on RWN from double-B .......

    News Round-up 31 May 2011

  • CRA names South Africa manager

    Moody's has appointed Jacques Els as general manager of its South Africa office in Johannesburg. Els - who succeeds Leon Claassen - will oversee the agency's operations in South Africa and will further develop its outreach and business in Sub-Saharan Africa.

    Els previously worked at NM Rothschild and Sons, where he was director of debt advisory. Prior to this, he .......

    Job Swaps 26 May 2011

  • Due diligence functionality provided

    Principia Partners has launched the latest release of its structured finance platform, Principia SFP, providing industry standard tools that aim to help EU banks comply with investor due diligence requirements under the Capital Requirements Directive. The latest functionality enables ABS, MBS and structured credit investors to satisfy the operational credit analysis requirements of the EU-wide regulation and avoid additional capital .......

    News Round-up 25 May 2011

  • Law firm adds Moscow partner

    Jones Day has appointed Konstantin Kroll as capital markets partner. Based in Moscow, Kroll's practice focuses on debt and equity capital markets transactions, structured finance and derivatives. He also advises clients on a broad range of debt, equity, and synthetic instruments, repackagings and securitisations.

    Kroll was previously with Allen & Overy, where he led that firm's debt capital markets and .......

    Job Swaps 24 May 2011

  • Credit card charge-offs continue to improve

    Charge-offs on US credit cards continued to improve in April, falling to 7.16% from 7.35% the month before, according to Moody's. The charge-off rate is expected to move below 7% in the next two months, on the way to eventually falling below 4% by the end of 2012, the agency says.

    "We expect the charge-off rate to continue declining throughout .......

    News Round-up 24 May 2011

  • Bank adds financial solutions md

    The Bank of Tokyo-Mitsubishi UFJ (BTMU) has appointed Terry McKay as md and head of the global financial solutions group, within corporate and investment banking. McKay will manage a New York-based team working with relationship managers throughout the Americas to help BTMU customers solve complex financial issues. He will report to Randall Chafetz, the bank's head of corporate and investment .......

    Job Swaps 23 May 2011

  • SIX adds four in evaluated pricing

    SIX Telekurs has expanded its evaluated pricing team with four new hires in its Stamford, US office.

    Chris Chun Ma and Ben Binxiang Qin have joined the valuations team as quantitative analysts. Chun Ma previously worked in portfolio analysis and asset allocation for AXA Advisors. Binxiang Qin has worked as a quantitative analyst at Great Plains Energy and Northern Stone .......

    Job Swaps 20 May 2011

  • Concerns remain over premium capture

    SIFMA has welcomed the Senate Banking Subcommittee on Securities, Insurance and Investment's hearing on the state of the securitisation markets. However, the association has expressed its concern that certain elements of the recently proposed rules on risk retention as prescribed by the Dodd-Frank Act could negatively impact the market going forward.

    In particular, SIFMA believes that the premium capture provisions .......

    News Round-up 19 May 2011

  • Oil and gas VPP deal rated

    Moody's has assigned ratings to US$879.6m Glenn Pool ABS notes, which are backed by oil and gas volumetric production payments (VPPs). The five-year Glenn Pool Oil & Gas Trust I note has been given a rating of Baa2, while the ten-year Glenn Pool Oil & Gas Trust II note is rated Baa3.

    The notes are backed by VPPs carved out of .......

    News Round-up 19 May 2011

  • Mixed performance for Aussie ABS

    The first quarter for the Australian ABS market showed mixed trends, according to Moody's.

    During January to March, delinquencies deteriorated across most Australian ABS deals. Those displaying spikes in arrears mostly consisted of consumer loans and/or non-novated leases. However, delinquencies remained stable for Macquarie Leasing's SMART deals with 70% or more novated leases, the agency says.

    High loan concentrations in .......

    News Round-up 19 May 2011

  • Rating transparency rules proposed

    The US SEC has voted unanimously to propose new rules and amendments to increase transparency and improve the integrity of credit ratings. The proposed rules would implement certain provisions of the Dodd-Frank Act and enhance the SEC's existing rules governing credit ratings and Nationally Recognised Statistical Rating Organisations (NRSROs).

    "In passing the Dodd-Frank Act, Congress noted that credit ratings applied .......

    News Round-up 19 May 2011

  • No springtime blues for timeshare ABS

    Springtime improvements appear to be taking hold again for US timeshare ABS, according to Fitch's latest index results for the sector.

    Timeshare delinquencies fell at the end of 1Q11 and were noticeably lower than levels seen in 1Q10. Defaults also increased modestly, though the agency expects the trend to be short-lived.

    "Timeshare default trends typically lag those of delinquencies, so .......

    News Round-up 18 May 2011

  • ABS vp appointed

    Barclays Capital has appointed Jonathan Wu as vp in its securitised products origination business (SPO). He will focus on consumer ABS and report to Cory Wishengrad and Diane Rinnovatore, the bank's co-heads of SPO. Wu was previously at JPMorgan, where he was vp in its securitised products group, focusing on auto and equipment ABS origination.

    .......

    Job Swaps 18 May 2011

  • Structured settlement errors corrected

    Moody's has taken rating actions on 19 classes of securitised notes from 12 transactions backed by future payments owed under litigation settlement agreements. The actions were taken as a result of a correction of errors in the models used to rate the transactions, the agency says.

    The structured settlement issuers affected are 321 Henderson Receivables I, II and VI, and J.G. .......

    News Round-up 18 May 2011

  • Securitisation league still wide open

    Four months into the year with US$81bn of qualifying deals done and it's still an open race for top spot in the latest SCI US league tables for bank arrangers in the structured credit and ABS markets. Meanwhile, the tables for Europe reflect lower market volumes - totalling €45bn year-to-date - and show two firms out ahead of the rest, .......

    News Round-up 17 May 2011

  • Valuation agreement inked

    SIX Telekurs has become the first data vendor to access Xtrakter's mark-to-market valuation service, dubbed XM2M. SIX Telekurs clients will now have access to pricing data on over 45,000 domestic and international fixed income instruments, including ABS.

    Yannic Weber, Xtrakter ceo, says: "Xtrakter is providing user-friendly pricing detail from XM2M. As a core part of the capital market infrastructure, we .......

    News Round-up 17 May 2011

  • Advisory continues Asian expansion

    StormHarbour has made two senior appointments in Hong Kong. Hong Hoo Moon and Guohua Ren each join the firm as md and will report to Water Cheung, Asia-Pacific ceo and principal. The appointments further strengthen StormHarbour's operations in Asia-Pacific, after the firm announced four senior hires in the region only two months ago (SCI 23 March).

    Moon was formerly head .......

    Job Swaps 17 May 2011

  • Deloitte hires for regulatory change

    Jeannie Lewis and Bryan Morris are joining Deloitte's Asset Management Services' governance, risk and regulatory practice. April Lemay, Deloitte & Touche principal, will lead the team.

    Lewis has more than 20 years of regulatory experience. She joins as principal and will be based in Chicago, providing regulatory, compliance, risk management, litigation support and business advisory services to Deloitte's traditional advisory .......

    Job Swaps 17 May 2011
×