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With tougher capital requirements looming, a number of regionals including U.S. Bancorp, Huntington and Santander are using these new instruments to share risk with nonbank investors and lighten their capital load. Experts point out the pros and cons.
February 1
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Santander Drive Auto Receivables Trust, 2025-3, can be upsized to $2.1 billion, and the capital structures are the same for both pool sizes.
July 21
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Moody's Ratings has assigned AAA to the Class A notes, which account for 87.3% of the transaction.
July 7
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While other European-based banks have retreated from the United States, Santander is doubling down by building out its nationwide digital-banking platform. "Unequivocally," said U.S. CEO Christiana Riley, "the opportunity … is so clear."
May 7
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The Spanish bank has been making heavy use of significant risk transfers, which allow banks to free up capital used to back up loans by paying investors to take on some of the credit risk.
December 19
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Openbank, which has operated in parts of Europe for years, should help the Spanish bank to fund its U.S. auto lending business, executives said.
October 21
