News, Articles and Publications

Credit cards eyed

Since 2016, banks in both Europe and the USA have looked at hedging credit card exposures via synthetic structures but to no avail. The greatest

APAC eyed

Life insurers have set their sights on APAC synthetic risk transfer transactions amid an implementation of the Insurance Capital Standard (ICS) that will render solvency

Data Centre wave begins

Synthetic securitisation issuance of data centre exposures is now growing in 2025 following the execution of one transaction from a North American bank in 2024

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Unfunded STS on hold

The European Commission’s decision to officially propose an extension of the STS label to unfunded synthetic securitisations last month as part of its landmark reforms

Capital buffers reach four-year low

European banks’ capital buffers declined to a four-year low in Q1 2025, following the first-time implementation of the final Basel three rules according to analysts.

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PBA test gathers momentum

The Association of Financial Markets in Europe (AFME) has responded to the European Commission’s landmark securitization report that was released in June 2025 (see: Revival

PRA approves unfunded SRTs

The UK’s Prudential Regulation Authority has given the green light to unfunded synthetic securitisations with a policy statement that was released on July 17 2025.

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Core market pivot

Santander acquired TSB from Sabadell earlier this month following the partial sale of the Spanish lender’s polish subsidiary to Erste Group. The move reflects a

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Downgrades pick up

Global corporate defaults rose in Q2 2025 but the year to date tally is 19% lower than what was recorded in the same period last

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Expansion begins

BBVA has finalized a synthetic securitisation of Spanish consumer loans. Dubbed BBVA Vela Consumer 2025-1, the transaction is unusual given that BBVA typically opts for