Securitisation
RBS combines CDO/CLO business with MBS/ABS division in Asia
The Royal Bank of Scotland (RBS) has combined its Asian collateralised debt obligation and collateralised loan obligation business with the mortgage-backed/asset-backed securities (MBS/ABS) product business under Byron Holmes, Tokyo-based head of Asia…
The matchmakers
Evolution Securities, a London investment bank previously associated with the equities market and its advisory work with small- and mid-cap clients, has branched into fixed income with the recruitment of two credit market stalwarts, Guy Cornelius and…
Is it too late to revive the securitisation market?
First we were told it was undergoing a temporary hiatus, then it was stalled, now they're saying it's broken altogether. William Rhode takes a look at the global securitisation market to see what, if anything, can be done to restore its fortunes
Joe Lovrics
Quite what kind of structured credit market will emerge from the ashes of the financial crisis is a matter for intense debate. The head of structured credit sales at BNP Paribas gives his views on the drivers for the market's future
Striking a balance
Editor's letter
Zu Hilfe!
Bailouts
Mese pazzo
Turbolenza dei mercati
Attenti a quel rischio
Basilea 2
Qualcosa si è inceppato
Correlazione
Fiducia in crisi
Gli investimenti dei fondi italiani
The drive for automation
Trading technology
Doug Long
The business development head at structured finance software vendor Principia talks to Matthew Attwood about what it will take to restore investor appetite for structured products
FASB to review SPV disclosure
On December 15, the Financial Accounting Standards Board (FASB) will issue amendments to FAS 140 and Fin 46, two accounting rules that deal with the disclosure of off-balance-sheet vehicles.
Fed opens $800 billion war chest to aid securitisation recovery
The Federal Reserve Bank of New York has unveiled ambitious proposals to purchase up to $800 billion of agency mortgage-backed securities (MBS) and extend credit to holders of cash asset-backed securities (ABS) in an effort to prop up the securitisation…
Ambac to commute $3.5 billion in CDO exposure
Ambac Financial announced on Wednesday that it has arranged a deal with counterparties to close out exposure to four collateralised debt obligations (CDOs) with a cash settlement of $1 billion.
Paulson: buying MBSs no longer Tarp priority
Treasury secretary Hank Paulson closed the door to systematic US government purchases of illiquid mortgage-backed securities under its $700 billion Troubled Asset Relief Programme (Tarp), during a briefing in Washington, DC today.
Treasury and Fed help AIG lay-off CDO risk
AIG was shored up by a restructuring plan hammered out by the US Treasury and Federal Reserve Bank of New York today, which involved the creation of an off-balance-sheet vehicle to neutralise some of the insurer’s hefty collateralised debt obligation …
Collateral damage
The practice of posting collateral against the risk of failed derivatives trades may protect dealers from the worst of the losses arising from Lehman's bankruptcy, says Joseph Pimbley. But what about trades that were not covered by such collateral…
Market Graphic - How to hedge an ABS portfolio
For investors stuck with toxic ABS assets on their books, devising an effective hedging strategy is crucial. Jean-David Cirotteau and Marc Teyssier, analysts at SG, look at one such strategy
Citigroup and Merrill Lynch losses soar in Q3
Hit by continuing credit problems and mortgage-related losses, Citigroup and Merrill Lynch saw their profits fall sharply in the third quarter of 2008.
Swiss National Bank to take $60 billion in UBS assets
The Swiss government has stepped in to rescue UBS, the European bank worst hit by the subprime crisis.
Federal Reserve to buy commercial paper from US banks
The US Federal Reserve has launched a new facility to purchase commercial paper from approved issuers in a further effort to provide liquidity to stricken bank funding markets.
Bank of England extends eligible collateral for repo facility
The Bank of England (BoE) on Friday extended the range of collateral eligible for its weekly sterling three-month repo facility to include AAA-rated asset backed securities (ABSs) of corporate and consumer loans and highly rated asset-backed commercial…
Gathering confidence
Securitisation