Top 14 UK Banks Appoint Lewtan™ for Cash Flow Models to Comply With Bank of England Regulation A centralized source for compliant deal models and related information required for current regulations
WALTHAM, Mass., Dec. 12, 2011 /PRNewswire/ -- Lewtan™, provider of ABSNet®, the industry's leading source for asset-backed securities surveillance data, analytics, software, and content for the global securitization industry, announce the availability Bank of England-compliant cash flow models for the UK Residential Mortgage-Backed Securities (RMBS) market. ABSNet, Lewtan's fully integrated web portal, which incorporates comprehensive asset-backed securities performance data and analytics, is the foundation for these compliant models.
In November 2010, the Bank of England issued a market notice requiring increased transparency for asset-backed securities and covered bonds in order for these securities to be eligible collateral for their discount window facility. As of November 30, 2011, it is a requirement that investors have access to specific deal documentation, investor reports, loan level data, and a liability-side cash flow model.
Lewtan is providing a compliant solution for 14 of the largest UK RMBS issuers, including Barclays, Lloyds, RBS and Santander. These institutions individually chose Lewtan as their preferred provider, and all are leveraging the ABSNet Cash Flow platform in order to develop liability-side models for these transactions. The deal models and related information are supplied to the market through a combination of Lewtan's Global ABS Portal and private label issuer websites. Access to these websites is free of charge to bona fide participants in the industry and available at www.globalabsportal.com.
In addition to the issuers listed above, current ABSNet Cash Flow subscribers now have the benefit of accessing and utilizing the same liability model that has been developed for Bank of England compliance. New functionality now includes an asset projection engine and bond analytics.
Demanding regulatory environment requires greater transparency
"Lewtan is committed to providing critical ABS securitization information to our clients and market participants in order to comply with the current global regulatory landscape and increased need for transparency in the banking sector," said Usman Ismail, Executive Vice President at Lewtan. "The development and deployment of this offering supported by the adoption from 14 of the largest issuers in the UK market is a strong validation of Lewtan's commitment to supporting our clients with leading solutions to help them manage their businesses more effectively in a rapidly evolving regulatory environment."
Through offices in North America and Europe, Lewtan, offers a wide range of content- and technology-based solutions to members of the global asset-securitization industry, including issuers, investors, underwriters, servicers, credit enhancers, and rating agencies representing more than 300 institutions worldwide.
Lewtan is a part of DMG Information, a division of the Daily Mail and General Trust, plc, one of the UK's leading international media groups. For further information, visit our website at www.lewtan.com.
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