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      Italian NPL collections: May-July volumes stable but recovery strategies have changed

      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.

      Introducing a stress-test based approach to integrating climate-change risk into structured finance

      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.

      Secured Green Bonds incentivise covered bond issuers to increase market risk

      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.

      Scope Group research - reader survey

      7/9/2022 Research EN

      Scope Group research - reader survey

      At Scope Group, reader feedback is important to us.

      Norway maintains strong covered bond framework following alignment with EU Directive

      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.

      Covered Bond Quarterly: strong issuance volumes as cracks appear in house-price rally

      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.

      Swedish residential property correcting but mortgage market to remain resilient

      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.

      Scope proposed an update to its CRE Loan and CMBS Rating Methodology and calls for comments

      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.

      Italian NPL collections: +38% in June but H1 volumes stable relative to 2021

      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.

      Scope updates its Non-Performing Loan ABS Rating Methodology

      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.