CDOs/CLOs

Participants at the ABS East conference don’t expect asset-backed securities or other kinds of structured finance to change hands online anytime soon.

BANIF Banco Internacional do Funchal S.A plans to place €875 million ($1.12B) of securities backed by a pool of current accounts and term loans that BANIF granted to Portuguese self-employed and small and midsize enterprises (SMEs).

Issuance of European syndicated corporate leveraged loans stands at record $53.7 billion for the year to date, according to Dealogic.

On Wednesday the Securitization and Exchange Commission will consider whether to adopt rules revising the disclosure, reporting and offering process for all things asset-backed.

European collateralized loan obligations underperformed other types of securitization in the region in the first half of 2014, but Barclays expects CLOs to catch up on some of the ground they lost.

At an IMN conference, Tom Finke laid into a recent article in Fortune likening CLOs to both CDOs and troublemaking legacy RMBS. His message is CLO pros have to be better self-advocates.

Barclays analysts believe the regulators will find it hard to ignore a call last week by the European Central Bank (ECB) and Bank of England (BoE) to ease the rules governing securitization activity in Europe.

Creating a one-size-fits-all approach to collateralized loan obligations does not harm Wall Street, it harms American businesses.