Global Risk Transfer Report 2022:
Expanding the Universe
Synthetic securitisation, once tarnished by association with the global financial crisis, has long since come in from the cold. The regulatory framework has developed significantly in Europe since the introduction of the new European Securitisation Regulation in January 2019, culminating in the inclusion of significant risk transfer transactions in the STS regime in April 2021. This label has provided CRT deal flow with additional momentum, broadened the issuer base and helped to legitimise the market.
So, how has the landscape evolved since then? While Europe has historically been the centre of CRT activity, what are the prospects in the US and beyond? We talked to market insiders, issuers and investors to find out what they make of current trends and what the outlook is for SRT, given current macroeconomic headwinds.
This SCI Special Report traces the recent regulatory and structural evolution of the CRT market, examines the development of both the issuer base and the investor base, and looks at its prospects for the future.