CDO challenges in China
The first synthetic CDOs involving a Chinese bank were issued last year, but with new derivatives regulations now in force, there’s likely to be more activity in China over the coming months. Chin-Chong Liew, Matthew Waudby and Jing Gu of law firm Allen & Overy discuss some of the legal issues surrounding the CDO market in China
Collateralised debt obligations (CDOs) have been one of the hottest financial products in Asia over the last few years, but until recently the market in the People’s Republic of China (PRC) has been comparatively quiet. However, in 2003 the first two synthetic CDOs involving a PRC entity were issued, both involving the Agricultural Bank of China as investment manager and investor. Since then there have been more private deals involving PRC banks, and the market looks set to develop further
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