Oct 22 2024 19 mins 3
On this week's episode of Another Fine Mezz, host Tom Lemmon and European ABS reporter, George Smith geared up for yet another busy week in ABS with the market's late-September slump looking well and truly over.
As the US presidential election on November 5 draws ever closer, it seems more and more market participants are not terribly fussed about it, despite worrying about it for most of the year.
That's particularly true for the sterling market with NewDay, LendInvest, Arval and Yorkshire Building Society all offering up paper this week and beyond.
Meanwhile, last week Mercedes and Santander priced euro deals, while Oodle and Nationwide got away in the UK.
Not to be outdone by the EU, the UK's Prudential Regulation Authority (PRA) announced some proposals on securitization, including a new formula for the p-factor, which should make ensure that using securitization to improve banks' capital treatment remains economical.
The PRA is also looking at growing the credit rating agency (CRA) market and has included some smaller agencies like KBRA, Arc Ratings and CreditReform on its list of approved CRAs.
