Read time: 4 minutes 25 seconds

NPL Securitisation is a term that is very much en-vogue at the present time. Although its rise to prominence can be attributed to a number of factors, in recent weeks the chief contributor has been the European legislature steps towards amending the Securitisation Regulation and the Capital Requirements Regulation.

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At a glance

A large number of legacy non-performing loan exposures (NPLs) continue to subsist on the balance sheets of banks. Portfolios of NPLs tie up huge amounts of regulatory capital which, in turn, limits the amount of capital that banks have available to lend to the real economy. The economic

Read time: 2 minutes 20 seconds

Those readers that have followed the meteoric rise of the European non-performing loan (NPL) market from the ashes of the global financial crisis (GFC) will be very aware of the profound impact that COVID-19 has had. In the space of a few weeks a large, burgeoning market that exhibited

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The COVID-19 pandemic has changed, at least temporarily, all facets of society and has had a truly global impact.  The scale of fatalities and the losses suffered by families are truly tragic.  Whilst the impact of the virus from a medical perspective is starting to become clearer, the economic impact of the pandemic is still largely unknown.  From Europe to Asia and the United States, businesses have been tested to their very limits by having to deal with often very stringent lockdown measures in an attempt to control the spread of the virus.  This blog examines how the COVID-19 pandemic affects the Indian economy, especially non-performing assets (NPAs).
Continue Reading India – a special situation? The impact of COVID-19 on Indian non-performing assets

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The recent news that the Greek parliament has approved the Greek government guarantee programme Hercules marks an important milestone in the evolution of the European non-performing loan (NPL) securitisation market. If Hercules enjoys the same level of success that we have witnessed the Italian GACS deliver, then this will have widespread, positive ramifications for not only yield-hungry investors but also the handful of systematic Greek banks that have balance sheets saddled with large volumes of NPLs.
Continue Reading Hercules – an astronomical boost for NPL securitisation

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The recent news that Blackstone and Lone Star have just securitized a portfolio of re-performing loans secured by Spanish and Irish real estate respectively, could potentially mark the arrival of a new era for the European securitization market. Indeed, if these transactions prove themselves to be the green shoots for the emergence of a new fixed income product, then this has the potential to have widespread positive ramifications for not only yield hungry fixed income investors but also for those banks that have balance sheets saddled with large volumes of non-performing loans (NPL).
Continue Reading NPL securitisation and the trail blazing funds