Europe

Issuance of U.S. collateralized loan obligtions is off to a slow start, with just two deals pricing in January; a single European deal priced.

Paragon Mortgage may be scaling back its loan securitizations in 2016, with plans to utilize the increased deposit base at parent Paragon Bank to fund more originations of its core “buy-to-let” mortgage business to family landlords.

A new Spanish auto loan securitization is coming down the pike.

Societe Generale SA is pulling back from the U.S. mortgage-bond business just two years after building out the unit, according to two people with knowledge of the matter.

Virgin Money Plc plans to offer the first UK RMBS of 2016 from its Gosforth master trust.

Ford Credit Europe is getting an early start on its funding with a €610.3 million securitization of German auto loans.

Finacity Corporation launched a combined receivables securitization program for Papier Union GmbH and PMF Factoring GmbH both both part of the Inapa Group a leading paper merchant group in Europe.

Global law firm Morgan Lewis has a sixth partner to its London structured transactions team, which was launched just last summer.

DBRS assigned ‘AAA’ ratings to €137.5 million ($150.3 million) of notes issued from RCI Banque’s Cars Alliance Auto Loans France Master.

Standard & Poor's downgrade of Volkswagen will have no immediate impact on its three U.S. auto loan and one auto lease asset-backed securities transactions it rates originated by VW Credit.

As key interest rates turned negative this year in Europe, everyday financial transactions entered the realm of fun-house mirrors.

Santander is marketing €1.33 billion ($1.45 billion) of notes backed by a portfolio of Spanish residential mortgages.

Ten U.S. collateralized loan obligations totaling $4.8 billion were issued in November, marking the lowest monthly level since January 2014, according to Thomson Reuters LPC.

Kensington Mortgage Co. plans to issue a bonds backed by a portfolio of recently acquired GE Money originated U.K. mortgages.

New bank capital rules on the horizon could nearly wipe out secondary trading in most kinds of asset-backeds, said JPMorgan analysts in a report.

A jump in lending in many parts of Europe, coupled with rising economic growth and higher employment, should help bolster the performance of securitizations in Europe, according to Fitch Ratings.

BNP Paribas Personal Finance, a subsidiary BNP Paribas, plans to resume securitizing personal consumer loans via its Noria platform.

Is it time for asset-backed deals to go back to Treasurys as their pricing benchmark? This is a question that researchers at J.P. Morgan are posing to the market.

BMW Bank plans to issue a new €800 million ($858 million) securitization of German auto leases, according to Standard & Poor's.

AMAG Leasing, the leasing arm of Swiss auto distributor and Volkswagen importer AMAG, plans to make a market debut with a CHF400 million ($396 million) portfolio of Volkswagen leases, some of which are impacted by the recent emissions cheating allegations.