PPP

Rating Agency Developments

On March 8, 2016, Fitch updated its global rating criteria for single- and multi-name credit-linked notes. Report.

On March 8, 2016, DBRS published its methodology for rating European covered bonds. Report.

On March 4, 2016, DBRS published its methodology for rating North American CMBS. Report.

On March 3, 2016, Fitch updated its rating criteria for pooled multifamily housing bonds. Report.

On March 3, 2016, Fitch updated its rating criteria for solar power projects. Report.

On March 3, 2016, DBRS published its methodology for rating public-private partnerships. Report.

On March 3, 2016, DBRS published its methodology for rating market-linked securities. Report.

On March 3, 2016, DBRS published its criteria for recovery ratings for non-investment grade corporate issuers. Report.

EIOPA Publishes Consultation Paper on the Development of an EU Single Market for Person Pension Products

On February 1, the European Insurance and Occupational Pensions Authority (“EIOPA“) published a consultation paper on its advice on the development of an EU Single Market for personal pension products (“PPP“). This consultation is in response to EIOPA’s 2014 preliminary report “Towards an EU-Single Market for personal pensions” and EIOPA’s 2015 consultation paper on the creation of a standardised Pan-European Personal Pension product.

EIOPA is asking:

  1. Would PPPs benefit from harmonisation of provider governance standards?
  2. Would PPPs benefit from harmonisation of product governance rules?
  3. Would PPPs benefit from harmonisation of distribution rules?
  4. Would PPPs benefit from harmonisation in disclosure rules?
  5. Are respondents aware of any differences in prudential regimes that would lead to an unlevel playing field amongst PPP providers?
  6. Are further supervisory powers necessary?
  7. Do respondents agree with EIOPA’s assessment of the policy options’ impacts?

The Consultation Paper is open for responses until April 26 and such responses will be published on EIOPA’s public website.  Consultation Paper.

Rating Agency Developments

On July 28, DBRS published methodology for conducting operational risk assessments for U.S. asset-backed securities originatorsReport.

On July 28, 2015, DBRS published methodology for conducting operational risk assessments for U.S. asset-backed securities servicersReport.

On July 28, DBRS published methodology for rating U.S. property assessed clean energy (PACE) securitizationsReport.

On July 28, DBRS published methodology for rating Canadian split share companies and trustsReport.

On July 28, DBRS published methodology for assigning and reviewing stability ratings for Canadian structured income fundsReport.

On July 24, Fitch published a new investor FAQ report on EMEA oil and gasRelease.

On July 23, Fitch updated its global covered bonds master criteriaRelease.

On July 23, Fitch published rating criteria for SHFA mortgage insurance or guarantee fund programsRelease.

On July 23, Fitch published updated insurance-linked securities (ILS) methodologyRelease.

On July 23, Fitch released final criteria for rating public sector counterparty obligations in PPP TransactionsRelease.