The European Central Bank and the 16 national central banks in the euro zone increased their purchases of covered bonds bringing the total volume settled to €44.427 billion ($59.3 billion), according to ECB-released data.
The European Central Bank said last summer that it would start buying €60 billion ($85 billion) of three- to 10-year covered bonds. The central bank said it would buy bonds in the primary and secondary markets until June 2010.
That the underlying contract holders prioritize using their smartphones and other mobile devices suggests that they are likely to prioritize payments related to those products.
Should the all-stock transaction close as planned later this year, Wintrust Financial in the Chicago area would gain about $2.7 billion of assets.
Chris Hentemann, whose fund manages $6.2 billion in assets, seeks out B-piece opportunities and foresees banks executing more bulk loan sales and credit-risk transfers.
The current levels of credit enhancement are a reduction from levels of 58.0%, 48.7%, 35.9%, 22.5% and 17% on the classes A, B, C, D and E on the BLAST 2024-1 deal.
First-quarter results at the companies were promising for other banks looking to reel in fees from capital markets activities as deposit costs put pressure on net interest income.
