International Securitisation Report

| Is the roof falling in? 1 May, 2008
After a decade of extraordinary growth, cracks are beginning to show in the foundations of the UK housing market as expectations of a soft landing have been replaced by gloomy discussions around the extent of house price deflation.
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Last gasp for European ABS CDOs? 1 May, 2008
Market value CLOs get stung 1 May, 2008
The long SIV goodbye 1 May, 2008
Servicers feel the heat 1 May, 2008
Egypt debuts lease-backed ABS 1 May, 2008
Domestic deals flourish in Brazil 1 May, 2008

As the global credit crunch continued in 2008, central banks of the world’s largest economies stepped in to provide liquidity facilities to aid the ailing financial markets. However, action from Bank of England had been notable by its absence until April, when news emerged that it was launching an initiative to swap £50bn (US$99.1bn) of gilts for RMBS.

The CPR is a key factor in ABS pricing 1 May, 2008

Sonia Benarouch, ABS and CDO analyst in the credit research department at Natixis, here reviews the factors affecting ABS pricing in the UK, the Netherlands, Spain and Italy.

Trader Talk

Trader talk 1 May, 2008
"The past couple of weeks have definitely seen better sentiment beginning to return to the market. This improved sentiment is most obviously seen in the CDS market, which has experienced very strong tightening on vanilla triple-A UK prime RMBS."

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RBS continues streamlining drive 1 May, 2008
The Royal Bank of Scotland has announced it is to cut 200 jobs as part of its restructuring efforts to integrate ABN AMRO.

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