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Citigroup Global Markets estimated that €8 billion of new-issue European CMBS supply will come forth next year.

IOSCO published today a final report on Global Developments in Securitization Regulation.

Deals backed by Spanish electricity tariff deficits could be hurt by a proposed energy reform bill due to become law by year’s end.

The securitization vehicle set up to fund the tariff deficit in the Spanish power industry will be selling €110 million of debt securities backed by a Spanish government guarantee.

Although European CMBS saw a boost in new issuance in September, with two new transactions closing in a single month for the first time since August 2007, S&P believes that this activity is not indicative of a "sustainable rebound".

U.S. financial institutions will not be required to start complying with Basel III capital and liquidity requirements by Jan. 1, according to a joint statement issued by regulators on Friday.

Santander Consumer Bank AS is marketing a $809 million securitization of Norwegian auto loans called Bilkreditt 3 Limited that will offer investor notes denominated both in euros and Norwegian kroners.

BNP Paribas is marketing a €445mn, 2.4-yr senior tranche, French auto ABS deal named Autonoria 2012-2.

Oliver Wyman's valuations of the troubled RMBS and CLOs held by Spanish banksprovide a benchmark on what sort of losses securitised transactions face, said analysts at the Royal Bank of Scotland.

However, the government housing programs have limited credit implications in terms of French RMBS and covered bonds, Moody's Investors Service said.

Deutsche Annington agreed to final terms for a refinancing of GRAND, a German mutifamily CMBS transaction, with a group of senior and junior noteholders representing 44% of the total.

In Europe, efforts by out-of-money investors has thwarted recovery efforts by senior bondholders in troubled CMBS deals, according to a Fitch Ratings report published today.

European securitizations are likely to face more stringent capital requirements as the Basel Committee examines how these transactions are regulated.

Santander Consumer Bank pre-placed its Svensk Autofinans 1— the first Swedish securitization of 2012.

The European Central Bank published details of its latest extension to collateral eligibility requirements, which will allow U.S dollar, U.K. sterling and Japanese yen collateral to be used in its monetary operations.

The Royal Bank of Scotland said in a report today that the Spanish financial entity established to take over risky loans, but not RMBS, will begin operations on Nov. 19, under the name of Sareb.

Moody's Investors Service said today that it will rate the senior swap and the class A+ Notes totalling $943million equivalent, issued by the German state sponsored bank, KfW under the Promise Neo 2012- 1 transaction.

Moody's Investors Service published an "unsolicited" comment today, warning investors that it would not have assigned a 'Aaa' rating to the senior notes in the Royal Bank of Scotland's Isobel Finance No.1 PLC deal; Europe's first non-performing real estate loan portfolio CMBS.

The U.K. is one of the few countries in Europe where securitization remains a significant funding source for mortgage originators but cheap central bank funding schemes and renewed economic deterioration could crowd out issuance and push up arrears, according to a Standard & Poor's report.

S&P said that due to overlaps in exposure, synthetic collateralized debt obligations in Europe were at a heightened risk of synchronized ratings moves.