2026 Agenda

How are macroeconomic forces reshaping structured finance markets globally? Looking at interest rates, inflation, geopolitics, and more. Where are we in the credit cycle? How is performance diverging across key asset classes, as higher-for-longer conditions feed through to borrowers? What is driving investor behaviour today? Looking at risk appetite, liquidity constraints, relative value, and structural protections. Are there risks and opportunities being under-priced by the market? Where should market participants be looking, and more cautious, over the next 12-18 months?

What makes Europe's structured finance markets attractive today? How does Europe compare to the U.S., and other global markets? Why are we seeing increased capital flowing into European credit and securitised assets? Is this a durable trend? How can initiatives like the CMU and SIU help unlock deeper pools of capital and support market growth? Which asset classes, funding models, and market structures offer Europe its strongest competitive advantage?

How are current and proposed European regulatory reforms; including changes to SecReg, BASEL, and solvency frameworks, reshaping issuance and investor demand? Where do capital requirements and prudential treatment still constrain securitisation’s role in bank balance-sheet management and market liquidity? How does Europe’s regulatory approach compare with the U.K., U.S., and other global jurisdictions? Is divergence creating competitive advantages, frictions, or fragmentation? What does that mean for cross-border transactions?

Examining liquidity, pricing and risk transfer across structured finance, focusing on secondary market conditions, bid–offer dynamics, balance-sheet constraints and volatility; how traders are responding to shifts in investor demand, funding costs and regulation; and what current trading behaviour signals about confidence, stress and relative value across asset classes.

Assessing RMBS with a focus on the growth of Equity Release securitisations; examining collateral performance, borrower behaviour, LTV migration, seasoning and repayment dynamics; investor appetite and pricing relative to prime RMBS; and the structural, legal and rating considerations shaping risk allocation and deal execution.

Assessing conditions in the leveraged loan market underpinning CLO issuance, including supply-demand dynamics, new origination vs. amend-and-extend activity, pricing and liquidity; how macro conditions, defaults and recoveries are evolving; and what this means for CLO collateral quality and reinvestment prospects.

Assessing the current health and maturity of the SRT market, looking at recent issuance volumes, pricing, deal structures; evaluating macro conditions, balance-sheet strategies, and regulatory capital considerations impact to supply-demand balance; and looking at underlying portfolio performance across key assets.

Examining the rapid expansion of digital infrastructure, including data centres, fibre networks and related assets, driven by AI and cloud demand; assessing underlying cashflow characteristics, asset longevity, sustainability constraints, geographic concentration, and tech obsolescence; and exploring how structured finance is being used to fund, scale and risk-manage this next generation of infrastructure investment.

Examining the rapid expansion of renewables, driven by energy transition policy, EV charging demand etc.; comparing residential and commercial solar PV models, including loans versus leases; assessing revenue profiles across contracted PPAs and merchant exposure; and exploring US–Europe divergences in market structure, risk allocation, financing models and investor appetite.

Practitioner-led evaluation on portfolio construction, credit selection and risk management, including how managers are navigating higher funding costs, loan market volatility and rating constraints; approaches to reinvestment, trading and extensions; and how manager strategies are evolving across different market conditions.

A technical exploration focusing on portfolio selection, calibration methods, tranche thickness, and execution formats; how internal models, capital relief objectives and supervisory expectations influence structuring choices; and how banks are managing timing, rollover risk and investor engagement in an evolving market.

Markets assessment from a trustee and transaction administration perspective, including operational resilience, reporting and data quality, and servicing performance; how trustees are adapting to more complex structures, private and hybrid transactions; and where operational risk, transparency and governance are becoming more critical as markets evolve.

Examining transport, energy, utilities and social infrastructure assets, and how long-dated, contracted cash flows are being financed through a mix of bank lending, private credit and capital markets solutions; and exploring where securitisation, refinancing and risk-transfer structures are emerging to support scale, liquidity and balance-sheet efficiency.

Reviewing recent CLO issuance, spreads and structural trends across Europe and the U.S.; analysing how liability costs, arbitrage conditions and refinancing/reset activity are shaping performance; and evaluating the outlook for CLO volumes and returns in the current credit cycle.

A deep dive into how investors analyse and price SRT risk, including underlying portfolio composition, loss assumptions, structural features and capital efficiency; how SRT fits within broader structured credit portfolios; and how investors are adjusting return expectations, risk tolerance and allocation in response to macro and regulatory developments.

Examining the role of repackaging structures as a tool for tailoring and distributing credit risk, including typical SPV and hedging mechanics, investor use cases and risk considerations, from counterparty exposures and management of liquidity and documentation; exploring how repacks sit alongside securitisation, CLOs and SRT as markets evolve, regulatory boundaries blur and demand grows for flexible, bespoke risk-transfer solutions.

Exploring whether renewed issuance and investor demand reflect a sustainable recovery or short-term repricing; analysing asset-level performance, valuation assumptions, refinancing and maturity walls, and structural mitigants; and considering how lender behaviour, rating approaches and investor risk tolerance are influencing transaction viability and market depth.

Exploring tranche selection, relative value versus other structured credit assets, and performance expectations across the capital structure; how investors assess manager quality, structural protections and downside risk; and how allocations are shifting in response to macro and regulatory factors.

Examining the role of reinsurance and insurance capital in SRT transactions, covering risk selection, pricing methodologies and portfolio diversification; regulatory and accounting treatment across jurisdictions; and how reinsurers assess correlation, tail risk and scalability as SRT becomes a more systemic component of bank capital management.

What trends and themes are investors most focused on today, and how are asset performance, refinancing pressures and data quality influencing relative value across structured finance asset classes? How are views evolving as the credit cycle matures? How do public securitised markets compare with private credit and structured private deals in terms of transparency, pricing, and portfolio construction? How are investors balancing risk, yield, liquidity, and structural protection in a high-for-longer environment? How are allocation strategies likely to change over the next 12-18 months?

How is private credit evolving, beyond direct lending, through ABF, specialty finance, and structured funding models; and what is driving continued growth in SME lending, consumer finance and niche asset classes? What risks and challenges are becoming more visible as the private credit market matures, including asset performance, refinancing risk, concentration, transparency and recent high-profile restructurings or bankruptcies? How are the lines blurring between private credit and securitisation, looking at ABF, structured leverage, risk transfer, and capital markets execution; and what does this mean for market structure and scale? Where is private credit bridging the funding gap, and in what areas are we seeing increased bank partnership activity? Can private credit sustain this growth trajectory while maintaining underwriting discipline, investor confidence, and resilience through the credit cycle? What role will structured finance play in supporting the next phase of private credit growth?

How is AI being deployed across the structured finance value chain today? Looking at underwriting, surveillance, servicing, reporting, and due diligence. Where are the biggest practical gains and bottlenecks? What challenges are limiting adoption of AI into financial markets; such as legacy systems and processes, data quality, model governance, regulatory scrutiny etc.? How is the rapid expansion of AI reshaping investable asset classes such as datacenters and digital and energy infrastructure, and how can structured finance play a role in funding growth? As AI becomes more embedded in credit decision-making and market infrastructure, how is the market looking to balance efficiency and innovation with resilience, transparency and regulatory oversight? What are the sustainability and ESG implications of AI growth? From energy and water usage, to carbon credits and offsetting, how should these risks be assessed and priced?

A data-driven discussion led by analysts and researchers, focusing on credit performance trends, stress signals and divergences across asset classes; how macro pressures are feeding through to underlying collateral; and where research, modelling and surveillance are challenging prevailing market assumptions or highlighting emerging risks and opportunities.

Examining performance and risk dynamics across consumer ABS, including auto loans, credit cards, personal loans and student loans; comparing secured versus unsecured exposures as higher-for-longer rates feed through to borrowers; and assessing credit performance, underwriting standards, structural protections and investor appetite as consumer stress and bifurcation across asset types become more pronounced.

Examining the rapid growth of MM CLOs, comparing collateral, transparency, liquidity and performance versus BSL CLOs; assessing issuance pipelines and growth trajectories in Europe vs. U.S.; and analysing investor appetite, rating methodologies, and whether these structures represent a scalable extension of the CLO market or a distinct credit risk profile.

Examining the Australian ABS market as a mature, globally invested securitisation jurisdiction, focusing on RMBS and consumer assets; assessing credit performance, funding dynamics and investor appetite amid higher rates and household leverage; and exploring why Australia continues to attract offshore capital despite macro and housing-market pressures.

Examining non-traditional, rights-based cashflows where future-flow risk is central, including music, sports and intellectual property revenues; analysing cashflow forecasting assumptions, volatility and correlation, legal enforceability and downside protection; assessing how structuring, triggers, reserves and stress scenarios are used to translate uncertain future revenues into institutional-grade credit.

Assessing the state of the auto ABS market across loans and leases, including credit performance trends, underwriting standards and transaction pipelines; analysing residual value risk amid rapid EV adoption, pricing volatility and technology obsolescence; and examining the evolving role of captive finance arms, banks and non-bank lenders in funding vehicles and managing risk across the credit cycle.

Examining the evolution of fund finance and NAV-based lending as tools for liquidity, leverage and portfolio management in private credit; analysing collateral definition, advance rates, covenants and cash-flow waterfalls; and assessing performance, refinancing risk, investor appetite and the growing role of securitisation and capital markets solutions as these structures scale and mature.

Exploring securitisation opportunities across the Middle East, with a focus on Saudi Arabia and the UAE; examining the development of legal frameworks, regulatory infrastructure and asset origination; and assessing where international banks, investors and service providers can play a role in shaping early-stage markets tied to real estate, infrastructure and strategic development goals.

Assessing funding conditions, execution choices and market access, covering public versus private issuance, structural trade-offs, investor engagement and pricing discipline; how issuers are navigating regulation, balance-sheet constraints and asset performance; and how funding strategies are evolving across cycles and jurisdictions.

Examining how SME lending is evolving as banks retrench and alternative lenders, private credit and ABF structures scale to fill funding gaps; assessing credit performance, underwriting standards and data-driven risk assessment in a higher-for-longer environment; and exploring how securitisation, forward-flow and warehouse funding can support sustainable growth.

Examining the evolution of non-bank lenders across long and short term specialty finance asset types; analysing how funding models, regulatory frameworks and risk management differs from traditional banking; and assessing performance, investor appetite and structural considerations.

Exploring opportunities across emerging European markets, including Central and Eastern Europe, Greece, Cyprus and Turkey; examining the shift from legacy NPL-driven activity toward RPL and new issuance in real-economy assets; assessing regulatory, structural and investor considerations; evaluating improving origination, transparency and market confidence can attract further capital-market participation.

Examining how fintech solutions are being applied across the structured finance lifecycle, from origination and underwriting to servicing, monitoring and reporting; assessing the use of alternative data, automation and fraud detection to improve credit performance and transparency; and evaluating which technologies have scaled successfully versus those that continue to face integration, governance and adoption challenges.

Exploring how banks, non-banks and sponsors are using receivables and ABCP structures to finance working-capital assets, and bridge the gap between warehouse funding and public term securitisation; exploring credit performance and operational risks, dilution and fraud; the role of technology, data and servicing controls; and how investor demand, conduit structures and capital markets execution strategies.

Examination of forward-flow structures as a tool for funding and risk transfer, covering asset eligibility, pricing mechanics, credit triggers and duration profiles; how performance data, underwriting standards and representations shape investor protection; and how forward-flow arrangements are being used alongside warehousing and securitisation to optimise capital efficiency and scalability across consumer, SME and specialty finance portfolios.

Examining opportunities across South, and South-East Asia, with a focus on India’s rapidly scaling market alongside more selective opportunities across South-East Asia; assessing asset classes, regulatory evolution, investor access and structural challenges; and exploring where scale, transparency and domestic demand are enabling capital-market growth, and where fragmentation continues to constrain it.

Examining the foundational infrastructure required for digital capital markets to scale, including data security, cryptographic resilience, interoperability between new platforms and legacy systems, and operational trust; and exploring how institutions are preparing market infrastructure to support long-dated, confidential securitised and private credit assets as technology adoption accelerates.

Examining how accelerating technology cycles are reshaping credit risk across securitised assets, including semiconductors, EVs and technology-dependent infrastructure; assessing how shifts in chip architecture, performance benchmarks and energy efficiency are undermining traditional assumptions around asset life, residual values and refinancing; and exploring where existing valuation, stress testing and due-diligence frameworks are being challenged by rapid technological change.

Assessing the state of tokenised securities and on-chain capital markets, focusing on issuance, settlement, custody and interoperability with existing financial infrastructure; examining the role of institutional stablecoins, CBDCs and delivery-versus-payment mechanisms; and evaluating regulatory treatment, capital implications and whether on-chain settlement can materially improve efficiency, liquidity and risk management in securitised and private credit markets.

Exploring how climate transition dynamics are reshaping credit risk across securitised and private credit portfolios, from regulation and energy-efficiency standards to technology-driven shifts in transport, housing and infrastructure; assessing where historical performance data, disclosure frameworks and ESG metrics fall short; and examining how investors, rating agencies and issuers are adapting credit analysis, stress testing and structuring to address transition risk, greenwashing concerns and climate-driven asset repricing.

Examining how real-world data sources, including IoT sensors, geolocation and satellite data, are beginning to influence asset monitoring, servicing and risk assessment across credit markets; examining use cases in logistics, infrastructure, energy and receivables; and assessing the implications for disclosure, triggers, surveillance and investor confidence.

Examining the financing of assets shaped by rapid technological change, geopolitics and national-security considerations, including defence, strategic infrastructure and critical supply chains; assessing how political risk, regulatory intervention and technology sensitivity challenge traditional credit analysis and investor due diligence; and exploring where securitisation, private credit and hybrid structures can (or can not) adapt to these evolving risk profiles.