Mortgage Rate Cuts Have No Rating Impact for Chinese RMBS, S&P Says

MT Newswires Live10-17

A reduction in mortgage rates will not factor into the ratings of China's residential mortgage-backed securities (RMBS), S&P Global Ratings said in a Wednesday release.

Bank of China (HKG:3988, SHA:601988) and China Merchants Bank (HKG:3968, SHA:600036), which originate two S&P-rated RMBS, said they will adjust their rates in line with the central bank's recently announced measure.

The adjustments, which will be effective Oct. 25, will apply to the pools backing the two rated RMBS, S&P said.

The rated transactions are Zhaoyin HeJia 2020-5 Residential Mortgage Backed Securitization Trust and Zhong Ying Wan Jia 2021-5 RMBS.

The rating agency expects a minimal decline in the RMBS' weighted-average pool yields due to the rate decline, with credit enhancement to shield the likely effect on cash flow.

Price (HKD): $3.77, Change: $-0.040, Percent Change: -1.05%

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2476614008?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-17 20:12","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2476614008","market":"hk","top_or_hot":-1,"title":"Mortgage Rate Cuts Have No Rating Impact for Chinese RMBS, S&P Says","media":"MT Newswires Live","content":"<html><body><p> A reduction in mortgage rates will not factor into the ratings of China's residential mortgage-backed securities (RMBS), S&amp;P Global Ratings said in a Wednesday release.</p><p>Bank of China (HKG:3988, SHA:601988) and China Merchants Bank (HKG:3968, SHA:600036), which originate two S&amp;P-rated RMBS, said they will adjust their rates in line with the central bank's recently announced measure.</p><p>The adjustments, which will be effective Oct. 25, will apply to the pools backing the two rated RMBS, S&amp;P said.</p><p>The rated transactions are Zhaoyin HeJia 2020-5 Residential Mortgage Backed Securitization Trust and Zhong Ying Wan Jia 2021-5 RMBS.</p><p>The rating agency expects a minimal decline in the RMBS' weighted-average pool yields due to the rate decline, with credit enhancement to shield the likely effect on cash flow.</p><p>Price (HKD): $3.77, Change: $-0.040, Percent Change: -1.05%</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Mortgage Rate Cuts Have No Rating Impact for Chinese RMBS, S&P Says</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMortgage Rate Cuts Have No Rating Impact for Chinese RMBS, S&P Says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-17 20:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mtnewswires.com/><strong>MT Newswires Live</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A reduction in mortgage rates will not factor into the ratings of China's residential mortgage-backed securities (RMBS), S&P Global Ratings said in a Wednesday release.Bank of China (HKG:3988, SHA:...</p>\n\n<a href=\"https://www.mtnewswires.com/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"601988","symbol_name":"中国银行","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2476614008","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2476614008","pubTimestamp":1729167123,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"A reduction in mortgage rates will not factor into the ratings of China's residential mortgage-backed securities , S&P Global Ratings said in a Wednesday release.Bank of China  and China Merchants Bank , which originate two S&P-rated RMBS, said they will adjust their rates in line with the central bank's recently announced measure.The adjustments, which will be effective Oct. 25, will apply to the pools backing the two rated RMBS, S&P said.The rated transactions are Zhaoyin HeJia 2020-5 Residential Mortgage Backed Securitization Trust and Zhong Ying Wan Jia 2021-5 RMBS.The rating agency expects a minimal decline in the RMBS' weighted-average pool yields due to the rate decline, with credit enhancement to shield the likely effect on cash flow.Price : $3.77, Change: $-0.040, Percent Change: -1.05%","collect":0,"end_time":0,"defaultTopTitle":"","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"600036":"招商银行","601988":"中国银行","RMBS":"Rambus","03988":"中国银行","03968":"招商银行"},"translate_title":"标准普尔表示，抵押贷款降息对中国人民币抵押贷款的评级没有影响","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"600036":0.9,"601988":0.9,"RMBS":1,"03968":0.9,"03988":0.9},"content_text":"A reduction in mortgage rates will not factor into the ratings of China's residential mortgage-backed securities (RMBS), S&P Global Ratings said in a Wednesday release.Bank of China (HKG:3988, SHA:601988) and China Merchants Bank (HKG:3968, SHA:600036), which originate two S&P-rated RMBS, said they will adjust their rates in line with the central bank's recently announced measure.The adjustments, which will be effective Oct. 25, will apply to the pools backing the two rated RMBS, S&P said.The rated transactions are Zhaoyin HeJia 2020-5 Residential Mortgage Backed Securitization Trust and Zhong Ying Wan Jia 2021-5 RMBS.The rating agency expects a minimal decline in the RMBS' weighted-average pool yields due to the rate decline, with credit enhancement to shield the likely effect on cash flow.Price (HKD): $3.77, Change: $-0.040, Percent Change: -1.05%","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2476614008"}