Por­tuguese RMBS per­for­mance rel­a­tively stable

Financial Mirror (Cyprus) - - FRONT PAGE -

The per­for­mance of the Por­tuguese res­i­den­tial mort­gage-backed se­cu­ri­ties (RMBS) mar­ket re­mained rel­a­tively stable in the three-month pe­riod ended in Septem­ber, ac­cord­ing to the lat­est in­dices pub­lished by Moody’s In­vestors Ser­vice.

In Septem­ber, 60+ day delin­quen­cies de­creased to 1.15% of the cur­rent port­fo­lio bal­ance from 1.20% in June, rep­re­sent­ing a 4.60% drop. Mean­while, 90+ day delin­quen­cies re­mained stable dur­ing the three-month pe­riod at 0.86%. Out­stand­ing de­faults (360+ days over­due, up to write-off) in­creased to 3.28% of the cur­rent bal­ance in Septem­ber from 3.17% in June, a 3.55% in­crease.

The pre­pay­ment rate of Por­tuguese RMBS slightly in­creased to 2.08% in Septem­ber from 1.81% in June.

As of Septem­ber, Moody’s rated 32 trans­ac­tions in the Por­tuguese RMBS mar­ket, with a to­tal out­stand­ing pool bal­ance of EUR 14.51 bln com­pared with EUR 14.79 bln in June.

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