A survey of the impact of seller-servicer bankruptcies on their securitizations by Moody’s reveals that investors in these deals ultimately benefit as much from qualitative factors such as diversity of the seller-servicer’s funding sources as from legal and structural safeguards. Furthermore, market history now appears to indicate that as assets become less commoditized or the deal structure and servicing more complex, there is a greater chance that securitization won’t completely succeed in insulating investors from losses. The securitization market’s lengthening history includes both bankruptcy- or receivership-related blowups such as Heilig-Meyers, LTV Steel, NextCard, and Contimortgage, as well as securitizations that were taken out in an orderly process. The differences between the level of investor protection in those deals can ultimately be traced to qualitative factors relating to the transactions and their sponsors and to the practical realities of the financial community, in Moody’s opinion.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more