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Agenda

  • Regional Bank-CRT Seminar, 24 September 2024, Chicago
    US SRT 101: A Primer & Applications for US Regionals
    Mark Kruzel, PIMCO
    • Is it accurate to say that 2024, despite the initial enthusiasm, has been disappointing so far in terms of regional bank issuance? What are the reasons behind this? Can we expect an improvement in Q4?
    • Is there a risk of regionals being crowded out of the market if a revised B3E proposal reduces the P factor for larger banks?
    • Many regional banks currently are concerned with concentration risk management. How does that figure into the decision to issue a CRT?

      Panel Includes:
      Terry Lanson, Seer Capital
    • How many regional banks are now looking at this product? What about credit unions?
    • How hard will it be and how long will it take for regional banks to implement the processes required to get a first deal done?
    • What are the different motivations for regional banks vs larger banks?
    • How many asset managers are now looking at this product? Is there a danger of flooding the space? What asset pools might make the most sense for regional banks?
    • Is there any progress on insurance companies and reinsurers getting clearance to become guarantors – as they do in Europe?
    • How has recent price tightening affected demand?
    • Will different asset pools need to be securitized to allow yields to become more attractive?

      Panel Includes:
      Julie Gillispie , Mayer Brown
      Sean Hannah , Lockton Re
      Alexis DeVriez, ArrowMark Partners
      Daniel Esposito, RBC Capital Markets
    • What regulators want to see for CLN approval and how that varies across regulators. ?
    • What the regulator engagement process adds in terms of cost. ?
    • Will the Fed’s conditions change? ?
    • How long does it/should it take for approval? Is it getting more streamlined? ?
    • Is there any chance the whole approval process will be dropped? ?
    • Can the Volcker rule concerns around the SPV structure be overcome?

      Panel Includes:
      Matthew Bisanz, Mayer Brown
    Evolution of Global SRT and Lessons Learned for US Banks
    Jennifer Bearden, IACPM
    • What levels of issuance can we expect and from whom?
    • What about new buyers in the market?
    • Are they damaging its stability?
    • Where will spreads go?

      Panel Includes:
      Joe Koebele, Lockton Re (Moderator)

Speakers