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The article focuses on the fund of Euro asset-backed commercial paper (ABCP) issuers through U.S. programs in 2009. According to Andrea Quirk at Standard & Poor's Corp., European issuers of ABCP chose U.S. market since it is more well-established. Although primarily issuing in the U.S., Fitch Ratings fully supported programs that have maintained funding in the European ABCP market. It is said that commercial papers have a minimal amount of issuance in the European ABCP market.

The article discusses the impact of unemployment to the consumer asset performance in Great Britain. The impact of the slowing economy in the country, together with factors such as increased costs of living, increasing unemployment and the tightening of the availability of credit, continue to provide some concerns regarding the consumer's ability to meet payments on their future credit card debt. The rating agencies are becoming more pessimistic about the country's credit card sector.

The article discusses the litigation culture relative to the asset-backed securities (ABS) losses in Europe. The rise in ABS-related litigations in the U.S. has motivated a number of law firms in Great Britain to consider bringing European banks to court. However, European firms are bound by contractual obligations that keep them from going after big financial institutions, and lawsuits are preferred to be settled out of court.

The article provides information on the buy-to-let (BTL) loans industry in Great Britain. The author inferred that the U.S. subprime implosion has caused mortgage lenders in the nation to suffer liquidity constraints. She averred that companies such as Paragon Mortgages, Alliance & Leicester, and Bradford & Bingley have seen profits drop due to the liquidity problem. She added that a slowdown in house prices will continue to be a test for the BTL market.

Reports on the subprime mortgage lending in Great Britain. Marketing of the subprime RMBS volume; Effect of house price declines on new loan origination; Sensitivity of the new lending/funding-through-securitization balance for subprime originators.

Reports that Bear Stearns is expected to bring to the privately placed securities market a new deal for the Great Britain national governing body, Football Association. Soccer securitizations; Persisting concerns that a relegated team might not be able to generate sufficient gate receipts.

Gemgarto 2015-2 is collateralized entirely by loans with rates that are fixed at a weighted average interest rate of 3.75% for the first three years of their terms and then reset to an adjustable rate. [ABSTRACT FROM AUTHOR]

The article reports on the plan of Paragon Mortgage Ltd., a specialist provider of buy-to-let mortgages, to issue bonds backed by British buy-to-let mortgages.

The article reports that the Platform Funding and Paratus AMC are securitizing a pool of British residential mortgage loans originated in 2007 worth 1.85 billion British pounds, according to financial services firm Standard & Poor's (S&P). Topics mentioned include non-conforming pool of residential mortgages that backed Warwick Finance Residential Mortgages Number Two, risk profile of more seasoned non-conforming pools, and rating assigned by S&P to the class A notes.

The article discusses the announcement of the auto lease agreement, Personal Contract Purchase (PCP) which enables the borrowers to buy the vehicle at the end of payment term, introduced by the British affiliate of the automobile manufacturer General Motors and compares the benefits and drawbacks of the same against Conditional Sale (CS) leases.

The article reports on the plan of British credit card issuer NewDay to release two series of notes in 2014. Topics covered include the nature of the services offered by the firm and its clients in Great Britain including retailers Asda, Arcadia and House of Fraser. Also mentioned is the sale of AAA and BB rated notes.

The article reports on the improvements in the commercial mortgage backed securities market in Great Britain. Topics covered include the amount of securities released by finance companies Morgan Stanley and Bank of America as well as the loans contributed to Morgan Stanley Morgan Capital Holdings. Also mentioned is the weighted average loan to value (LTV) ratio of the deal of the companies.

The article looks at the plan of Capital Home Loans (CHL) on securitizing the Great Britain (GB) buy-to-let mortgage portfolio called Auburn Securities 8. Topics covered include hiring of Citibank for managing the deal and plans of Moody's Investor Service (MIS) to rate the Series A notes as Aaa with a December 2044 legal final maturity date. Also mentioned are restrictions of current, original and average loan-to-value (LTV) of the well-seasoned loans.

The article reports on the planned sale of a £1.3 billion residential mortgages portfolio in Great Britain by Accord Mortgages as of October 2014.

Dignity, the U.K.'s second-largest funeral services provider and the biggest private cremation provider, plans to refinance a whole business securitization completed in 2003. [ABSTRACT FROM AUTHOR]

The article reports that Moody's Investors Service Inc. is reviewing the ratings of two tranches in an ABS U.K. consumer loan transaction and 82 tranches in 27 Great Britain nonconforming residential mortgage-backed securities (RMBS) transactions.

The author reflects on the housing industry of Great Britain. She states that Great Britain is moving towards the second stage of its bailout plan to get the mortgage market going. She adds that the drop in house prices is depressing and suggests that home-buyers should not delay buying their homes. The author notes that any stimulus to lending is good but may be unusual in times of uncertain economy.

The author reflects on the shortage of mortgage funding in Great Britain. She cites the efforts made by the British Council of Mortgage Lenders (CML) to kick start the country's residential mortgage-backed securities and covered bond markets. The author notes the proposal of CML for the government to guarantee packages of loans. She also reveals the findings of the interim report on the situation of the mortgage markets commissioned by the British Department of the Treasury.

The article reports on the contraction of mortgage lending in Great Britain as highlighted by a Bank of England report. The survey of mortgage lenders discovered that both unsecured and secured credit to household was decreased in the three months extending to March 2008. The survey revealed that the decrease was attained mainly through the tightening of credit standards. Mortgage lenders who provided the best values were overcame by demand and some reacted by withholding products.

The author reflects on the recovering the securitization activity in Great Britain. She says the recovery of the European activity depends on whether the financial institutions will accept wider funding spreads. She also mentions the European Securitization Forum (ESF) which raises the concerns about critical issues such as whether bank investors will return to market to grow their portfolios. She adds that ESF expects a continuation of declining issuance of 2008.

The article reports on the insufficiency of the increasing interest rates to cool the mortgage growth in Great Britain. Recent data on the country's house price inflation and mortgage equity show that the 75 basis point increase in rates has done little to cool down the housing market. Royal Bank of Scotland Kit Juckes said that this is the effect of the low interest rates in the past which have created an asset inflation today.

The article discusses the impact of the January rate increase to the consumers and economy of Great Britain. The effect of the event is expected to be detrimental while bankruptcies may continue to climb rapidly. According to a research of debt consultancy firm Thomas Charles, 19 percent of adults with debt of $ 19,676 or more reporting some likelihood of becoming bankrupt or taking out an individual voluntary arrangement. However, good news such as decease in unemployment is forecasted.

Reports on the publication of the latest guidance of the Financial Services Authority on the implementation of Basel II via the European Capital Directive in Great Britain. Implications of the introduction of the Capital Requirements Directive for firms across the country; Application of the standardized approach related to mortgage market; Changes in the levels of payment protection prevalent in the mortgage market.

Reports on the release of a new risk-based capital regime for insurance companies by the Great Britain Financial Service Authority. Impact of policy on capital requirements for credit investments based on an investment's ratings, spread and modified duration; Creation of buying opportunity for investors.

Reports on the issuance of covered bonds by major mortgage lending institutions in Great Britain. Use of covered bonds as an alternative to traditional mortgage-backed securities (MBS); Demise of the MBS market; Advantage of the issuance of covered bonds.

Focuses on the apprehension caused by the Enterprise Bill regarding personal bankruptcy rules in Great Britain. Impact of the bill on the asset-backed securitization market; Reduction of the cultural stigma associated with bankruptcy; Creation of more incentives for entrepreneurship.

Reports that Fitch Ratings is expecting that collateralized debt obligations may become a funding source in the British private finance initiative (PFI) sector. Issue with how to split the financial benefits of refinancing between the private and public sectors; Mandatory profit split; Potential impact of the profit split on secondary market investments.

Reports on the trends in the asset-backed securities market in Europe in 2004. Pricing; Structured credit; Investment trends; Circulation of portfolio consisting of Great Britain commercial loans originated by banks.

Reports on the use of securitization alternatives through the Great Britain private finance initiative. Movement toward complex restructuring by various companies; Returns on investments made from corporate restructuring; Use of covenants with debt management policies and equity support.

Reports on the efforts of British Office of Fair Trading to cut extra interchange fees in credit card retailing. Explanation on the mechanics of interchange fees; Responsibility of card companies to sustain interchange fees.

Examines the financial reinsurance practices in Great Britain. Presentation of assets calculation; Types of reinsurance loans; Information from the Financial Services Authority.

Reports the impact of the downgrade residential mortgage-backed security to the insurance industry in Great Britain. Timelime starting with counterparty credit lowering and insurer financial strength ratings; Example of operating entity affected by the downgrade; Signal to the vulnerability of transaction to insurers.

Reports the emergence of Provide Home 2001-1 a residential mortgage-backed securities synthetic in Europe. Security of German-based residential mortgages; Objective to guarantee broad supply of housing loans; Technique to cut cost in transactions.

While Great Britain regulators are still partial to the use of equity-related models for the financial restructuring and refinancing of domestic water companies, the recent use of debt financing by Glas Cymru and Welsh Water has paved the way for similar companies to consider accessing the capital markets, market observers say, and may be an important milestone for the industry. With an estimated GBP10 billion to GBP15 billion required in new investments, the Great Britain water companies are attracted to certain structural and ratings-related advantages which debt financing and securitization-style transactions offer them. The Welsh Water deal, in particular, not only exemplified 100% access to the capital markets, but also demonstrated that there are viable alternatives to equity models for the refinancing. Both Sutten and East Surrey Water PLC, which completed deals prior to the Welsh Water deal, also used a similar structure as a way of isolating the credit of the water company from the other activities of East Surrey Holdings PLC, the parent company. Companies currently considering future restructuring, such as Anglian Water Services Ltd., are heartened by the success of the recent water deals, as it indicates that more functional debt-related structures can be developed going forward, a spokesman from AWG said. Some observers note that Welsh Water's situation was unique in that electric utility Western Power Distribution (WPD), the former parent of Welsh Water, decidedly wanted to get out of the water business.

Discusses the decision of domestic water companies in Great Britain to consider accessing the capital markets after the successful use of debt financing by Glas Cymru and Welsh Water. Regulators' attitude towards using equity-related models; Financial restructuring and refinancing of water companies; Structural and ratings-related advantages.

Despite a rather disappointing month in terms of deal flow, Royal Bank of Scotland PLC managed to debut its first deal of the year for the Great Britain-based issuer Provident Financial Group Inc. The $150 million transaction completed roadshows in March 2001 and price talk on the double bullet tranches reflected the slowdown in issues in April. The deal's 10-year bullet tranche garnered price talk at 240 basis points over Treasury's while its seven-year bullet remained narrow at 225 basis points. Sources following the deal said they did not expect the transaction to widen because the company's structure appealed to a number of investors. Still, investors considering the deal say they expect it to widen simply because many issuers coming to market lately have opted to enter with narrow pricing that inevitably widens out to reflect relative value for private investors. Provident Financial offers its clients a business model not found in the U.S. and is a provider of simple financial services based on loans and insurance to customers throughout Great Britain and Europe.

Focuses on the increase in the subprime mortgage market in Great Britain. Growth in the number of participating lenders; Use of securitization as preferred method; List of mortgage issues.

The article discusses asset-backed security (ABS) and the steps taken by the U.S. and British governments to restart securitization. The British Treasury Department launched the ABS Guarantee Scheme in April 2009, assigning 75.9 billion dollars to guarantee property securitization. Unlike the British government's plan, the U.S. Treasury Department has launched the Term ABS Loan Facility to provide support for new mortgage lending.