Europe

News

BlackRock Hired by ECB as ABS-Program Consultant

The European Central Bank hired BlackRock Inc, the world’s biggest money manager, to advise on developing a program to buy asset-backed securities.

Mercedes Benz Plans Euro €800 Auto Loan ABS

Silver Arrow Compartment 5 will be Mercedes-Benz Bank's fourth German publicly-rated asset-backed securities transaction.

VW Plans UK Auto Loan ABS

Volkswagen Financial Services plans to issue a securitization backed by U.K. auto loans, according to Standard & Poor’s.

Delta Lloyd RMBS Features a New Hedge for Interest Rate Mismatch

Delta Lloyds' latest Dutch residential mortgage securitization has an innovative work around to regulations that make it unattractive to use swaps to hedge interest rate mismatch.

Even at Single-A, Bond Insurance Can Still Add Value: Fitch

Fitch Ratings believes bond insurance can have significant value, even when the bond insurer is rated the same or lower than the underlying rating on the wrapped bond upon issuance.

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Articles

Euro Private Placements Fill Lending Void

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.

Policy Fight Threatens European CLO Market

A policy fight is threatening the recovery of collateralized loan obligations in Europe.

Beware Extension Risk in Older European CLOs

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.

Fitch Warns on Forex Risk in CLO 2.0

The latest generation of European CLOs may expose investors to a risk that didn’t exist in most collateralized loan obligations issued before the financial crisis: fluctuations in foreign exchange rates.

SME Catch a Break

With Global ABS around the corner, it’s only fitting that we turn our attention to Europe.

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Current Issue

China Auto Securitization Gears Up

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