Capital Relief Trades
-
SCI In Conversation: Terry Lanson, Seer Capital
We discuss the hottest topics in securitisation today
In this latest episode of our SCI In Conversation podcast, Terry Lanson, a managing director at Seer Capital and an established luminary in the regulatory capital relief trade market, discusses the prospects for further growth and development of the SRT market in the US. Although this is well-trod ground, Terry believes that, in the wake of the failure of several .......
News 27 June 2023
-
-
Inflexion point
SRT market takes off despite regulatory turbulence
The SRT market is experiencing strong growth with both issuers and investors increasing their focus on the space, according to panellists at the 27th Annual Global ABS conference in Barcelona. However, despite strong European activity there remains a significant amount of uncertainty as the market grapples with regulatory changes surrounding Basel 4.
Credit Agricole CIB has noted significant .......
News Analysis 26 June 2023
-
-
-
-
-
-
Walker steps up to global credit head
Sector developments and company hires
Walker steps up to global credit head
Aon has established a new global credit team structure within its Reinsurance Solutions unit, appointing Ben Walker as head of global credit. The global credit team now combines Reinsurance Solutions’ existing mortgage, trade credit, structured credit and political risk and surety businesses to form one global function.The aim is to facilitate .......
Market Moves 14 June 2023
-
-
Entrepreneurial spirit
Colin Reddy, md, head of financial institutions and advisory at Howden CAP, answers SCI's questions
Q: You joined Howden CAP in April from Mizuho, where you executed a number of strategic capital and balance sheet transactions for the firm’s clients (SCI 12 April). What attracted you to move to the insurance side of the risk transfer market?
The Structured Credit Interview 9 June 2023
A: I began my career in insurance, but I have spent the last 20 years in banking .......
-
-
-
Capital panic
Use of SRT by US banks more pertinent as reg cap rises
US regulators are poised to increase capital requirements for bigger banks by as much as 20%, which will make the case for an expansion of the SRT market even stronger, say sources.
The recent spate of bank collapses has persuaded regulators that financial institutions must hold more equity capital.
“Instead of doubling down on a complex system of rules for banks that provide .......
News 6 June 2023
-
Santander selling
Spanish bank in US market with new auto loan CLN – price indications
Santander Bank NA is currently in the market with its first auto loan CLN of the year, dubbed SBCLN 2023-A. It concluded three such transactions last year, all of which were executed in December.
The trade consists of seven tranches, six of which are unrated and one unrated, according to sources in New York. The overall face value of the trade .......
News 6 June 2023
-
-
-
Latest SRTx fixings released
Improved tone implied in June index values
The latest fixings for the SRTx (Significant Risk Transfer Index) have been released. The index values imply a generally improved tone across all four sub-indexes since May’s fixings (SCI 3 May).
Indeed, this month’s survey responses suggest that spread estimates have tightened considerably for US large corporate and EU SME SRT transactions - by 48bp (representing .......
News 2 June 2023
-
-
-