Lewtan is offering Bank of England (BofE)-compliant cash flow models for the U.K. RMBS market.
ABSNet, Lewtan's fully integrated web portal, which incorporates comprehensive asset-backed securities performance data and analytics, is the foundation for these compliant models.
In November 2010, the BofE issued a mandate requiring increased transparency for ABS and covered bonds in order for these securities to be eligible collateral for their discount window facility.
As of Nov 30, it is a requirement that investors have access to specific deal documentation, investor reports, loan level data, and a liability-side cash flow model.
Lewtan is providing a compliant solution for 14 of the largest U.K. RMBS issuers, including Barclays Capital, Lloyds, Royal Bank of Scotland and Santander.
These institutions individually chose Lewtan as their preferred provider and all are leveraging the ABSNet Cash Flow platform to develop liability-side models for these deals. The transaction models and related data are supplied to the market via a combination of Lewtan's Global ABS Portal and private label issuer websites.
Aside from the issuers listed above, current ABSNet Cash Flow subscribers can now access and utilize the same liability model that has been developed for BofE compliance. New functionality now includes an asset projection engine and bond analytics.