22/9/2022 Research EN
Italian NPL collections: May-July volumes stable but recovery strategies have changed
Collections on Italian NPL securitisations fell 24% in July versus June but rose 7% year on year. Volumes in the May-July quarter have been stable since 2020 – EUR 459.9m, EUR 463.8m in 2021 and EUR 459.3m this year – but recovery strategies have changed.
21/9/2022 Research EN
Introducing a stress-test based approach to integrating climate-change risk into structured finance
Integrating ESG factors into credit assessments is far from being standardised and market participants appear uncertain about best practices. Climate change is a key area of focus, as it strongly affects business activities across different geographies.
20/9/2022 Research EN
Secured Green Bonds incentivise covered bond issuers to increase market risk
Secured Green Bonds, introduced in the recent Green Bond Principles update, create incentives for covered-bond issuers to detach the financing of green assets from the cover pool. This could lead to asset-liability mismatches, increasing market risk.
7/9/2022 Research EN
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1/9/2022 Research EN
Norway maintains strong covered bond framework following alignment with EU Directive
Norway has maintained its robust covered bond framework following full alignment with the European Covered Bond Directive (CBD). The strong governance support factors common to the country’s covered bonds and their issuers remain unchanged.
25/8/2022 Research EN
Covered Bond Quarterly: strong issuance volumes as cracks appear in house-price rally
2022 might turn into the year not just of European covered bond harmonisation but of record issuance volumes too. On the housing front, prices in Sweden have seen their biggest slump since the GFC amid uneven price developments across Europe.
24/8/2022 Research EN
Swedish residential property correcting but mortgage market to remain resilient
With mortgage rates at levels not seen since 2011 we expect property transactions to slow and prices to correct. Mortgage losses will stay low as a strong regulatory framework and borrower database will support sound underwriting and credit management.
22/8/2022 Research EN
Scope proposed an update to its CRE Loan and CMBS Rating Methodology and calls for comments
Scope Ratings calls for comments on its CRE Loan and CMBS Rating Methodology by 22 September 2022. The proposed update clarifies and refines Scope’s analytical approach. No rating impact expected.
8/8/2022 Research EN
Italian NPL collections: +38% in June but H1 volumes stable relative to 2021
Italian NPL collections rose to EUR 234m in June 2022, 39% above the monthly average for the year and 38% higher than May volumes. Year-over-year, though, cumulative collections for the first half have been stable, just 0.6% lower.
5/8/2022 Research EN
Scope updates its Non-Performing Loan ABS Rating Methodology
The updates have no effect on Scope’s existing ratings of non-performing loan transactions.