Structured Finance

Highlights

• 19 Mar 2013
  • Credit Insight: March edition highlights older UK mortgage borrowers’ resistance to repossession
    A combination of lender forbearance and more manageable affordability will help older UK borrowers with interest-only loans avoid repossession over the next two years as the refinancing wall approaches. Also discussed, the credit positive implications of several events for Spanish SME securitisation deals, Russian RMBS and ABS transactions, and French CMBS... Full Report
• 19 Feb 2013
  • Credit Insight: February edition highlights impact of extended UK credit card balance transfer periods
    The February edition of Credit Insight discusses the limited impact on UK charge-offs in 2013 of credit card originators’ decision to lengthen interest-free balance transfer periods to a historic peak of 25 months. We also discuss the impact of, and drivers behind, permitted and non-permitted renegotiations in Spanish RMBS deals, the levels of which remain low despite the ongoing economic crisis in Spain. While such low levels would ordinarily be credit positive, the underreporting of loan renegotiations by most Spanish management companies (gestoras) prevents definitive credit conclusions from being drawn... Full Report​​​​
• 19 Nov 2012
  • Credit Insight: November edition highlights impact of Belgian Mobilisation Act
    The November edition of Credit Insight discusses the credit positive impact of the recently passed Belgian Mobilisation Act on certain Belgian structured finance transactions. The act will substantially reduce the level of set-off risk inherent in transactions involving originators that are deposit-taking institutions. We also discuss how the German economic slowdown will cause an increase in delinquencies and defaults for SME loan portfolios, with cyclical industry sectors being most affected... Full Report​​​​​​​​