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Credito Emiliano Holding S.p.A. set pricing on its EUR 200m 10.25-year social Tier 2 at 7.625%. The notes are callable at 5.25 years. Scope rates Credito Emiliano S.p.A. on a subscription basis.

Scope Ratings has been named Service Provider of the Year by Structured Credit Investor (SCI), a leading news and data provider focused on securitisation and structured finance.

Inadequate corporate data remains the bugbear in improving disclosure for investors on greenhouse-gas emissions and other sustainability factors which EU regulatory initiatives are making only partial headway in addressing.

Tightening financial conditions, slowing GDP growth, inflation and supply-chain bottlenecks will reverse the downtrend in non-performing loans. But a number of factors will limit negative impacts on the creditworthiness of European banks.

The future of technology laggards in banking is increasingly clouded. Banks that fall behind in adjusting their structures and operations to the emerging digital-first ecosystem will find it increasingly hard to remain competitive and profitable.

The new structured finance methodology is specific to residential mortgage-backed securities, mainly in Europe. Scope is calling for comments until 22 July 2022.

German mortgage rates have risen to levels not seen in a decade. We discount a collapse in house prices though this will depend on the economy. If banks allow buyers to max out their debt capacity with riskier debt, prices could even be further stretched.

The ECB’s monetary actions announced last week mark the end of an era for European banks. For Italian banks, the anticipated revenue benefits must be weighed against risks.

Austrian covered bonds can be rated up to nine notches above issuer ratings, six notches of which stems from better governance support, which is driven by higher systemic importance, stronger cohesiveness and the new legal framework taking effect in July.