Santander Unseats Barclays as Europe’s Biggest SRT Issuer (1)

Banco Santander SA surpassed Barclays Plc as Europe’s largest issuer of significant risk transfers, according to S&P Global Ratings.

In order to come up with a volume estimate for the privately-negotiated deals, S&P used data on the senior portions that banks retain on their balance sheets and disclose in their regulatory filings. These retained tranches typically represent about 80%-95% of the reference portfolio in European SRTs.

More banks are turning to SRTs to manage their risk and bolster solvency ratios, and the market is set to keep growing in 2025, according to S&P. The deals shift the risk of ...