Russia sees first RMBS transaction

Vneshtorgbank (VTB), Russia's second largest bank, has launched the country's first residential mortgage-backed securities (RMBS) transaction. The $88.3 million deal, called Russian Mortgage Backed Securities 2006-1, was completed at the end of June and will be settled in mid-July.

The transaction comprises three tranches: $74.2 million of Class A notes, rated A1 by Moody's Investors Service; $10.6 million of Class B notes rated Baa2; and $3.5 million of B2-rated Class C notes, which will be

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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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