Covered bonds
US banks reshaped liquidity buffers in Q2
Truist, BofA and US Bancorp lead highly liquid assets pile-up
Lloyds wins consent to flip £1bn covered bond to Sonia
The conversion, backed by 99.84% of bondholders, marks another milestone in the Libor transition
EU’s new securitisation market stumbles at the starting gate
Lack of single supervisory authority is hampering EU efforts to create new markets
Only 1% of bonds caught in first wave of Mifid transparency
Trax estimates 5% of corporate bonds will be subject to full transparency after four-year phase-in
Bank deal of the year: SG CIB
Risk Awards 2017: French bank found way to finance – and recycle – Czech mortgage bonds
Fitting a distribution to value-at-risk and expected shortfall, with an application to covered bonds
This paper suggests simple and intuitive models for covered bonds that allow quantitative assessment of expected loss and the impact of asset encumbrance.
ABN Amro cuts rates swaps from €24bn covered bond programme
High cost of downgrade triggers forces Dutch bank to use alternative hedge
Nationwide: ABS markets need more than warm words
"There does seem to be this sense in which covered bonds are innocent until proven guilty"
Bank treasurers warn on ‘racy’ EU liquidity rules
European stance on covered bonds and ABSs seen as risky
Banks avoiding covered bonds for LCR buffer over liquidity fears
Concerns raised about liquidity in stressed environments
Covered bonds get carve-out in draft EU clearing rules
Issuers pleased as Esma proposes exemption for covered bond hedges
Covered bond issuers cheer EU swaps margin relief
Regulators recognise collateral posting barriers but set six conditions for an exemption
Asset managers lure insurers with new exchange-traded funds
Insurers predicted to increase ETF exposure
Bank funding options increased under revised Australian securitisation framework
Increased funding options welcomed in the face of a potential spike in Australia consumer credit growth
Insurers developing internal model risk calibrations for non-standard credit assets
Underlines growing strategic importance of infrastructure bonds and MBS, finds survey
Covered bond industry protests against Esma clearing push
Esma has ignored calls to exempt covered bond vehicles from clearing, to the dismay of issuers
Asian covered bond market set to take off
Running for covered
Korea ready for Basel III, claims FSC
Meeting the challenges
Banks plan to relaunch off-balance-sheet derivatives units
At least six banks are talking to lawyers and rating agencies about reviving derivatives product companies, although AAA ratings may now be off the table
Saving structured finance: Dealers vie for SPV replacement swaps
The SPV swap replacement game
Dealers draw up contract for covered bond CDSs
Credit Suisse, Deutsche Bank and JP Morgan expect demand for spread volatility protection on covered bonds