News Centre

ICE First Look At November Mortgage Performance: Delinquencies Historically Low Despite Seasonal Rise; Performance Of Recent Originations Worth Watching

Date 21/12/2023

• The national delinquency rate edged higher to 3.39% in November – down 10 basis points (bps) from the same time last year – but remains 64 bps below pre-pandemic levels
• While delinquencies remain low overall, the rate among FHA loans is now at a 9-year high – excluding the immediate aftermath of the pandemic – and will be worth watching closely in 2024
• Likewise, early-stage delinquencies among VA loans hit their highest non-pandemic levels since 2009, as rising interest rates have begun to impact performance among recently originated loans
• GSE mortgages have been more resilient, with early-stage delinquencies holding stronger and overall delinquency rates less than half the national average at 1.51%
• Serious delinquencies (90+ days past due) rose to 459K, but remain down 123K (-21%) from November 2022
• Foreclosure starts decreased -12.2% in November to 29K with active foreclosure inventory falling to 216K, some 23% and 24% below 2019 levels respectively
• Prepayment activity fell again under continued pressure from seasonal homebuying patterns along with the residual effects of 30-year rates climbing above 7.75% the month prior

Identity Fraud: BaFin Warns Against Alleged Steubing AG Wert-papierhandelsbank

Date 21/12/2023

The financial supervisory authority BaFin warns against offers from the alleged Steubing AG Wertpapierhandelsbank. It is suspected that the unknown operators are offering consumers securities for sale without permission. The operators give the impression that there is a connection with Wolfgang Steubing AG Wertpapierdienstleister, which is supervised by BaFin. This is false. This is a case of identity fraud.

Bank Of England: Minutes Of The Meeting Of The Court Of Directors Held On 31 October 2023

Date 21/12/2023

The Bank's Court of Directors acts as a unitary board, setting the organisation's strategy and budget and taking key decisions on resourcing and appointments. Required to meet a minimum seven times per year, it has five executive members from the Bank and up to nine non-executive members.

KION Group AG: BaFin Imposes Administrative Fine

Date 21/12/2023

On 7 December 2023, the Federal Financial Supervisory Authority (BaFin) imposed an administrative fine amounting to 280,000 euros on KION Group AG on grounds that the company had violated the Market Abuse Regulation (MAR) by failing to disclose inside information.

Adv. Livnat Ein-Shay Wilder, Joins Tel Aviv Stock Exchange Management As EVP, Head Of Legal Department

Date 21/12/2023

The Israel Securities Authority (ISA) approved (21.12.23) the appointment of Adv. Livnat Ein-Shay Wilder as EVP, Head of the Legal Department at TASE.

EEX Publishes 2024 EUA And EUAA Auction Calendars

Date 21/12/2023

The European Energy Exchange (EEX) has published the 2024 calendars for the auctioning of EU allowances (EUA) and EU Aviation Allowances (EUAA), with the below timings and notes on auction volumes.

Bank Of England: Summary Minutes Of Sub-Group And Task Force Meetings – October 2023

Date 21/12/2023

The Working Group on Sterling Risk-Free Reference Rates, which is comprised of a diverse set of market participants, is working to assist in finalising the transition away from LIBOR.

Spectrum Markets Becomes Associate Member Of The Italian Association Of Certificates And Investment Products (ACEPI)

Date 21/12/2023

• By joining ACEPI, Spectrum furthers its commitment to collaborate closely with securitised derivatives associations in Europe
• Since 2006, ACEPI has brought together the main operators in the sector, currently representing over 90% of the primary market for certificates in Italy
• As a member of ACEPI, Spectrum Markets will bring its contribution on legal, marketing and products related activities

ESMA Consults On Possible Changes To The Securitisation Disclosure Templates

Date 21/12/2023

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has launched a consultation on the revision of the Disclosure Regulatory Technical Standards (RTS) and Implementing Technical Standards (ITS). These standards relate to the specific information and details of securitisation transactions that should be made available.

ACER Grants Regulators More Time To Agree On The Amendment To The Core Day-Ahead Electricity Capacity Calculation Methodology

Date 21/12/2023

On 24 October 2023, the National Regulatory Authorities (NRAs) of the Core Capacity Calculation Region (CCR) requested from ACER an extension to agree on the Core Transmission System Operators’ (TSOs’) proposed second amendment to the Core day-ahead electricity capacity calculation methodology.