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      Italian CQS ABS: Marzio Finance performance snapshot

      29/11/2024 Research EN

      Italian CQS ABS: Marzio Finance performance snapshot

      Scope Ratings has published the performance overview of notes issued by Marzio Finance, a EUR 10bn securitisation programme backed by ‘cessione del quinto’ and ‘delegazione di pagamento’ (CQS) loans originated by IBL Banca.

      Divergent household strategies to optimise borrowing costs may put financial stability at risk

      18/11/2024 Research EN

      Divergent household strategies to optimise borrowing costs may put financial stability at risk

      Homeowners in some European markets prefer floating-rate mortgages while others prefer longer-dated fixed interest rates. Given that borrowing costs are all linked to the same ECB rates, this is somewhat counter intuitive.

      Nominate us at Global Capital European Securitization Awards 2025

      11/11/2024 Research EN

      Nominate us at Global Capital European Securitization Awards 2025

      Global Capital has opened the call for nominations for its European Securitization Awards 2025. Awards are selected following a two-stage process: nominations will form the basis of a shortlist for each award that is then voted on by market participants.

      Italian NPL collections: 71% up on the month but September volumes 40% below two-year average

      5/11/2024 Research EN

      Italian NPL collections: 71% up on the month but September volumes 40% below two-year average

      Post-summer seasonal effects pushed September collections up 71% month-on-month, but volumes were 40% lower than the September 2022-2023 average.

      Scope updates its CRE Loan and CMBS Rating Methodology and calls for comments

      4/11/2024 Research EN

      Scope updates its CRE Loan and CMBS Rating Methodology and calls for comments

      Scope proposes an update to its CRE Loan and CMBS Rating Methodology and calls for comments from market participants by 4 December 2024. The proposed update clarifies and refines Scope’s analytical approach.

      Covered Bond Quarterly: Reviving publicly guaranteed collateral could boost European competitiveness

      29/10/2024 Research EN

      Covered Bond Quarterly: Reviving publicly guaranteed collateral could boost European competitiveness

      With sovereign credit quality reflecting fiscal and economic challenges, the Draghi report offered valuable insights into how to address some structural issues facing the euro area. But the report was notably silent on the contribution of covered bonds.

      What Frederick the Great might have told Mario Draghi about covered bonds

      24/10/2024 Research EN

      What Frederick the Great might have told Mario Draghi about covered bonds

      In 1769, Frederick the Great, King of Prussia, introduced the legal basis for an instrument that developed into Germany’s Pfandbrief, the forerunner of all covered bonds. How would he have reacted to the Draghi report on European competitiveness?

      Unsecured NPL securitisations outperform transactions with mixed portfolios

      16/10/2024 Research EN

      Unsecured NPL securitisations outperform transactions with mixed portfolios

      Securitisations of purely unsecured non-performing loan (NPL) portfolios have generally outperformed transactions backed by mixed NPL portfolios composed of unsecured and secured exposures.

      Italian NPL collections: seasonal factors drag August volumes down 54%

      7/10/2024 Research EN

      Italian NPL collections: seasonal factors drag August volumes down 54%

      Seasonal factors dragged August collections down 54% month-on-month, a new low since this report started to be published in 2020. A similar pattern has been observed in previous years but to a lesser extent (-35% in 2023, -38% in 2022).

      European CRE/CMBS: only six of 20 loans have repaid or been refinanced

      1/10/2024 Research EN

      European CRE/CMBS: only six of 20 loans have repaid or been refinanced

      Only six of the 20 loans in European CMBS that were scheduled to refinance this year have been repaid or refinanced. Nine were modified and three were extended. Meanwhile, two thirds of the loans still fail bank lenders’ refinancing requirements.