Dutch RMBS Index Report Q4 2010—Modest Revival In New Issuance Amid Fragile Market Recovery May 11
Standard & Poors, May 2011
Abstract
In 2010, the Dutch residential mortgage-backed securities (RMBS) sector began a modest revival in new issuance on the back of gradual economic recovery, in Standard & Poor's Ratings Services' opinion. In the fourth quarter of 2010, house prices declined and property sales increased. We believe the Dutch housing market is recovering only slowly and is vulnerable to both external and internal economic risks. We predict only marginal GDP growth of 1.6% over the next two yearslinked primarily to global export demandgiven that a substantial portion of The Netherlands' GDP comprises exports. In particular, fiscal tightening across Europe in 2011 could reduce demand for Dutch exports and therefore reduce GDP, further slowing down economic growth. Added to this, an uncertain labor...
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- ING Bank N.V.
- NIBC Bank N.V.
- Holland Euro-Denominated Mortgage-Backed Series (Hermes) VI B.V.
- Dutch Mortgage Portfolio Loans II B.V.
- Dutch MBS XI B.V.
- Dutch Mortgage Portfolio Loans III B.V.
- Provide Lowlands 1 B.V.
- E-MAC NL 2004-I B.V.
- Fortis Bank (Nederland) N.V.
- Holland Mortgage Backed Series (Hermes) VIII B.V.
- Monastery 2004-I B.V.
- E-MAC NL 2004-II B.V.
- Holland Mortgage Backed Series (Hermes) IX B.V.
- E-MAC NL 2005-I B.V.
- ABN AMRO Bank N.V. Covered Bond Programme
- E-MAC NL 2005-III B.V.
- Holland Mortgage Backed Series (Hermes) XI B.V.
- STORM 2006-I B.V.
- STORM 2006-II B.V.
- E-MAC NL 2006-II B.V.
- Monastery 2006-I B.V.
- E-MAC Program B.V. Compartment NL 2006-III
- Beluga Master Issuer B.V.
- Dome 2006-I B.V.
- STORM 2007-I B.V.
- Achmea Hypotheekbank N.V. Covered Bond Programme
- E-MAC Program B.V. Compartment NL 2007-I
- E-MAC Program B.V. Compartment NL 2007-III
- Eurosail-NL 2007-1 B.V.
- E-MAC Program II B.V. Compartment NL 2007-IV
- Dolphin Master Issuer B.V.
- Eurosail-NL 2007-2 B.V.
- Arena 2007-I B.V.
- E-MAC Program III B.V. Compartment NL 2008-I
- E-MAC Program III B.V. Compartment NL 2008-II
- Candide Financing 2008 B.V.
- E-MAC Program II B.V. Compartment NL 2008-IV
- EMF-NL Prime 2008-A B.V.
- Candide Financing 2008-2 B.V.
- Dutch Mortgage Portfolio Loans VI B.V.
- STORM 2010-I B.V.
- STORM 2010-II B.V.
- Goldfish Master Issuer B.V.
- Citadel 2010-II B.V.
- Storm 2010-III B.V.
- Essence III B.V.
- Storm 2010-IV B.V.
- ARENA 2011-I B.V.
- Citadel 2011-I B.V.
- Strong 2011-I B.V.
- STORM 2011-I B.V.
- STORM 2011-II B.V.
- SAECURE 10 B.V.
- STORM 2011-III B.V.
- Saecure 8 NHG B.V.
- EMF-NL 2008-1 B.V.
- EMF-NL 2008-2 B.V.
- Arena 2009-I B.V.
- Dutch MBS XV B.V.
- Citadel 2010-I B.V.
- SAECURE 7 B.V.
- PEARL Mortgage Backed Securities 4 B.V.
- SAECURE 9 B.V.
Customers who bought this item also bought
All rights reserved. © Copyright 2013 Research and Markets WWW5
Terms and Conditions Privacy Policy Publishers Employment Opportunities Site Map Link to us Webmaster Affiliate Network
