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Regional Bank CRT Forum 2025

Submitted by Ieva Nainaite on

With regional and smaller banks now actively executing capital relief trades, this event offers treasury and structuring teams a focused forum to explore SRT execution, investor engagement, and deal structuring strategies.

Event Date

Location

A&O Shearman, 599 Lexington Avenue, Lexington Ave, New York, NY 10022, United States

Draft Agenda

Registration Opens & Networking Breakfast

07:50 - 08:50

Welcome Note & Opening Remarks

08:50 - 09:00

Workshop

09:00 - 09:45

What Are the Motivations and Impediments for Issuing a CRT Trade?

09:45 - 10:35

Pros:

  • Capital relief and balance sheet optimization
  • Hedging credit exposures and concentration risks (particularly in CRE exposure)
  • Option for customized solutions to meet bank specific needs
  • Cheaper alternative to issuing equity

Cons:

  • Regulatory uncertainty around Basel Endgame, etc
  • Reluctance to go out on a limb / be one of the first issuers
  • Costs of entering the CRT market
  • Data challenges:
    • Producing loan-level information required for CRT transactions
    • Evaluating and confirming eligibility criteria for reference assets
    • Lack of historical loss and delinquency data for regional banks
    • Difficulty tracking losses and recoveries as required by CRT
  • Logistic challenges:
    • Many regional banks lack a capital markets arm
    • Lengthy education process which often begins at C-Suite
  • Inherent limitations:
    • Regional banks may have less sophistication in structured finance

Speakers

Sandro Kraft

Sandro Kraft

FVP | Director, Strategic Finance and M&A
Valley National Bank

Networking Break

10:35 - 11:05

Structural Preferences and Asset Mix

11:05 - 11:55
  • What structures make sense for regional banks, and why?
    • How does this vary by size and type of institution?
  • Direct Bank CLN vs. CDS Structures:
    • Is a direct CLN a more straightforward pathway to CRT compared to structures involving credit default swaps or financial guarantees with a counterparty?
  • SPV-Issued CLNs and other solutions for Smaller Regional Banks:
    • How do limits on ability to tranche and syndicate affect the attractiveness of the SPV structure?
    • Are SPV-issued CLNs a viable option for smaller institutions?
    • Are direct CLNs more suitable for regular ABS issuers?
    • Benefits of “Cash” CRT or securitization structure involving loan sales
  • Credit Limits and Regulatory Capital:
    • How do regional banks' strict credit limits for exposure, investment, and regulatory capital influence structuring options?
  • Bilateral vs. Syndicated:
    • Which model makes more sense for regional banks?
  • CRT Deals for Smaller Banks:
    • What is the minimum bank size to engage in a CRT deal? (e.g., Third Coast is $5bn)
  • Asset Considerations:
    • Which assets are most suitable for CRT transactions? (e.g., car loans vs. corporate loans)

Speakers

James Bryson

James Bryson

Partner
A&O Shearman

Networking Lunch

11:55 - 12:55

What Regulatory Initiatives Will the New Administration Bring?

12:55 - 13:45
  • Securitization Market Priority:
    • How high of a priority is the securitization market for the new administration?
  • Leadership Changes at Regulatory Agencies:
    • How might new heads of agencies affect the securitization market?
    • Will they adopt a more favourable or lenient approach to securitization?
  • Approval Process for CLNs:
    • Will the Federal Reserve’s approval process for CLNs become easier and faster?
  • Restrictions on SPV deals:
    • What regulatory changes / clarifications are needed to facilitate the issuance of tranched and syndicated SPV deals?
    • What is the current status of Commodity Pool relief, and what updates or guidance might be forthcoming?
    • How do updates to relevant regulatory guidance or relief affect SPV feasibility and structure selection?
    • Is this the optimal structure for the market?
  • Basel III Endgame:
    • Is the Basel III endgame still a viable plan? What impact will this have on the CRT market?
  • Current Regulatory Landscape:
    • What does the current regulatory backdrop look like for regional banks in the $100bn-$250bn range?

Speed Dating Session 1 – Meet the Issuers

13:45 - 14:20

Beyond CRT – Credit Insurance as a Tool for US Regional Banks

14:20 - 15:10

Market Trends and Future Outlook:
  o How is credit insurance currently being used in Europe?
  o What’s the current usage and adoption level among US regional banks?

Benefits of Credit Insurance for Regional Banks:
  o What are the key advantages of credit insurance for regional banks?
  o What practical use cases exist in the US, and how many institutions are adopting it?

How Can Utilizing Credit Insurance Improve Your CRT Program?
  o How can credit insurance complement or improve a CRT program?
  o How does it help address challenges related to data, eligibility, and structuring?
  o Are there notable regulatory distinctions between insured exposures and traditional CRTs?

Investor and Market Perception:
  o How are insurance-enhanced CRTs viewed by investors and counterparties?
  o What do investors look for in CRT deals from regional banks?
  o How can insurers support smaller or first-time CRT issuers?

 

Speed dating session 2 – Meet the Investors

15:10 - 15:45

The Future of CRT for Regional Banks

15:45 - 16:35
  • Market Trends and Future Outlook:
    • What does the future hold for CRT issuance by regional banks?
    • How are regional banks preparing for evolving market conditions and regulatory changes?
  • SRT Strategies Gaining Traction with LPs:
    • How are LPs viewing risk transfer transactions, and what’s driving their increased participation?
    • What does growing LP interest mean for structuring and execution of future SRT deals?
    • How to address concerns around counterparty risk?
  • Technology and Innovation in CRT Transactions:
    • What does growing LP interest mean for structuring and execution of future SRT deals?
  • Investor Sentiment:
    • How do investors view CRT deals from regional banks? What do they look for in terms of risk and return?
  • Cross-Market Lessons:
    • What lessons can regional banks learn from international CRT activity?
    • How can novel structures from other markets—such as European repack innovations—be adapted to help U.S. issuers access broader capital and risk transfer options?
       

 

 

Speakers

Terry Lanson

Terry Lanson

Managing Director
Seer Capital

Drinks Reception

16:35 - 17:35
Agenda

Delegate Pricing

Subscriber Rates

Early Access

25% Discount
$1,268
/ Per delegate
Applies until

Regular

20% Discount
$1,352
/ Per delegate
Applies until

Final Release

10% Discount
$1,521
/ Per delegate
Applies until

Non-subscriber Rates

Early Access

15% Discount
$1,437
/ Per delegate
Applies until

Regular

10% Discount
$1,521
/ Per delegate
Applies until

Final Release

% Discount
$1,690
/ Per delegate
Applies until

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Exhibitor

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Credit Benchmark

Speakers

James Bryson

James Bryson

Partner
A&O Shearman
Sandro Kraft

Sandro Kraft

FVP | Director, Strategic Finance and M&A
Valley National Bank
Terry Lanson

Terry Lanson

Managing Director
Seer Capital

Advisory Board

Chip Salter

Chip Salter

Executive Director
Wells Fargo Securities
Daniel Esposito

Daniel Esposito

Vice President | Financial Institutions Group | U.S. Debt Capital Markets
RBC Capital Markets
James Bryson

James Bryson

Partner
A&O Shearman
Jeff-Hinkle

Jeffrey Hinkle

Senior Managing Director, Portfolio Management
EJF Capital
Joe

Joe Koebele

Co-Leader of the Mortgage and Structured Credit
Lockton Re
Mark

Mark Kruzel

Senior Vice President
PIMCO
Sandro Kraft

Sandro Kraft

FVP | Director, Strategic Finance and M&A
Valley National Bank
Sean

Sean Hannah

Co-Leader of the Mortgage and Structured Credit
Lockton Re
Terry Lanson

Terry Lanson

Managing Director
Seer Capital