The Volcker Rule doesnt apply on their turf, but European CLO managers are nearly as eager to come in line with the regulation as their U.S. counterparts.
Volkswagen Leasing plans to issue a 723 million ($937 million) securitization backed by German auto lease receivables; it follows on the heels of a U.K. auto loan deal that priced the first week of September.
Deutsche Bank plans to issue 250 million ($324 million) of securities backed by two commercial mortgage loans that are secured by 20 properties, according to a person familiar with the deal.
BANIF Banco Internacional do Funchal S.A plans to place 875 million ($1.12B) of securities backed by a pool of current accounts and term loans to Portuguese self-employed and small and midsize enterprises.
Among his specific objectives, as Financial Services, Financial Stability and Capital Markets Union Commissioner, Lord Jonathan Hill would be tasked with seeking appropriate ways to revive sustainable and high quality securitization markets.
A nascent private bond market in France is expected to grow significantly over the next two years, and could complement, or possibly compete with, securitization of loans to small and medium-sized enterprises.
A policy fight is threatening the recovery of collateralized loan obligations in Europe.
European collateralized loan obligations issued pre-financial crisis are nearing the end of their reinvestment periods, yet the maturities of the loans that serve as collateral continue to shift further out into the future.
The latest generation of European CLOs may expose investors to a risk that didnt exist in most collateralized loan obligations issued before the financial crisis: fluctuations in foreign exchange rates.
With Global ABS around the corner, its only fitting that we turn our attention to Europe.
Vice President of Regulatory Compliance
Firm: Clayton Holdings
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As more and more Chinese gain the financial access to buy a car with a loan, lenders will look increasingly to securitization to keep origination going.Current Issue