Banks are taking action and cutting back or reallocating their teams after a misunderstanding over the regulatory technical standards implementation date. It began with an Isla announcement
Increasing regulation and market volatility has turned issuers to private placement debt and equity programmes. DCM dealers are seeing a rise in Asia and Latin American issuers; others see a high volume of covered bonds. Some are seeing no business at all
Trade groups and consultants are reticent about the international body’s statement on the €50 million IM exchange threshold. They say it does not provide enough certainty
Practice Insight’s latest landmark report sees in-house compliance managers and directors determined to learn from past regulatory mistakes when implementing the Securities Financing Transactions Regulation
Practice Insight surveys in-house lawyers on both the buy and sellside as they wrestle with Brexit preparations. Here they reveal product concerns, relocation strategies and the internal politics surrounding it all
Bankers, third-party verifiers and lawyers wish to see uniformity from national regulators on the interpretation of the STS rules for securitisation, specifically on the underlying pool of assets, data disclosure and treatment of receivable risks
Isda Create and Margin Xchange are lining up in a bid to become the ultimate tech platform for the uncleared margin rules. Here bankers and consultants weigh up their price, efficiency and ease of use
Buyside sources are concerned about the application of the simple, transparent and standardised criteria to the private ABS market, arguing that it has over-complicated matters
ABS structurers are turning to alternative deals that fall outside the Securitisation Regulation’s scope. However, optimistic bankers believe that the regulation will achieve its aims within the second half of 2019
Counterparties are quarrelling over trade sensitivities inputted via Isda’s calculation method, despite the industry group’s efforts to ease the process
Investors are withdrawing from securitisation deals due to the delay to Esma’s new templates. Here, heads of sellside structuring teams and buyside portfolio managers discuss their fears of sanctions if an STS deal is later found noncompliant
The market is slowly recovering from Brexit fatigue with securitisation, private equity and DCM activity on the rise. But some think the change in sentiment will be short-lived due to regulatory and political uncertainty
