Creditflux newsletter delivered to your door
The last few weeks have affected the way everyone goes about their daily routine. To make things slightly easier for our readership, subcribers can receive the April Creditflux newsletter at their home addresses

Back from the dead: CLO risk retention resurfaces in the US
Risk retention is making an unexpected comeback in the US CLO market as more managers look to structure their deals to comply with European risk retention regulations

Big firms better prepped for Libor change and less operationally exposed, survey finds
The largest financial organisations are further ahead with their Libor transition efforts, and are likelier to move into 2020 with 'greater confidence' than small and mid-size firms, according to a market survey

Norinchukin's CLO portfolio decreases for first time in years
Japanese CLO heavyweight Norinchukin posted its financial statements yesterday, where it reported a 1.42% drop from its statements at the end of the second quarter

Bank of Japan keeps rates in check to keep CLOs within reach
The US Federal Reserve’s pivot toward a more dovish monetary policy has buttressed the symbiotic relationship between Japanese investors and US CLO managers

Florida-based manager revives plan for rare emerging markets CBO
RVX Asset Management has launched an unusual securitisation backed by emerging markets debt, according to market sources

US and European investors score new allocations to triple A CLOs as managers 'de-Nochu'
US and European investors in triple A-rated CLOs are in good spirits as the world’s largest buyer of these notes pulls back from investing

CLOs are 11% of Nochu's assets as bank posts JPY 7.4 trillion investments
Norinchukin bought another JPY 600 billion ($4.77 billion) CLOs in the first quarter, taking its total investments in the asset class to JPY 7.4 trillion ($66.8 billion), according to the bank’s latest financial statements

Mizuho looks to make return to CLO management
Mizuho is shaking up its credit business in Europe and is pushing into CLOs as both manager and arranger, according to several sources

Japan regulation affords CLOs breathing room
Japan’s regulators have avoided disruption of the global CLO market by softening the impact of their risk retention rules that came into effect in March

CLO market holds breath as Japan risk retention looms
Risk retention compliant US CLOs could make a comeback after the Japan Financial Services Authority (JFSA) unveiled its proposed new risk retention framework, which could tie the hands of the world’s biggest buyers of US CLOs

Norinchukin's CLO holdings jump by over 50% since March
Norinchukin’s appetite for CLOs shows no signs of relenting

Term structure is being developed for floating rate benchmark SOFR, says LSTA
The Secured Overnight Financing Rate, known as SOFR, is being developed into a term structure

South Korean brokerage finds CLO warehouses good for Seoul
Appetite for CLO warehouse risk has re-awoken in South Korea, with sources indicating that a Seoul-based brokerage is looking to provide first-loss capital in CLO warehouses globally.