Announcements
Drinks
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.
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?
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).
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.
27/9/2024 Research EN
Structured Finance Activity Report: ratings drift shifts into positive territory
Scope’s new structured finance rated volume grew by 17.4% in the year to June 2024. Monitoring reviews resulted in more upgrades than downgrades over the period, resulting in positive ratings drift for the first time since the third quarter of 2022.
23/9/2024 Research EN
Italian NPL collections: July proceeds maintain trend of previous two years
July collections fell 24% month on month, broadly similar to the declines observed in the two previous years (30% in 2022, 32% in 2023). Volumes were also 24% below the average for the same month of the previous two years.
6/9/2024 Research EN
Covered Bond Directive: Policymakers solicit views on outstanding items. Are ESNs the next frontier?
Efforts to address remaining items in the Covered Bond Directive continue. While the Directive has brought many benefits, there is still room for improvement, particularly for European Secured Notes, which could offer both banks and SMEs funding benefits.