Santander Unseats Barclays as Europe's Biggest Issuer of SRTs
Banco Santander SA surpassed Barclays Plc as Europe's largest issuer of significant risk transfers, according to S&P Global Ratings.
In order to come up with a volume estimate for the privately-negotiated deals, S&P used data on the senior portions that banks retain on their balance sheets and disclose in their regulatory filings. These retained tranches typically represent about 80%-95% of the reference portfolio in European SRTs.
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