Runner-up: Harbourmaster

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Harbourmaster, a Dublin-based collateral manager, launched a new leveraged loan CDO in May which offers investors access to the tranches of senior secured leveraged loans previously open only to banks. Although this has been done before in the US, this collateralised loan obligation represents the first time European CDO investors have had access to the term loan A and revolver tranches. A pro rata strip (i.e. pro rata allocation to all four tranches) of term loan A, revolver, term loan B and

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Credit risk & modelling – Special report 2021

This Risk special report provides an insight on the challenges facing banks in measuring and mitigating credit risk in the current environment, and the strategies they are deploying to adapt to a more stringent regulatory approach.

The wild world of credit models

The Covid-19 pandemic has induced a kind of schizophrenia in loan-loss models. When the pandemic hit, banks overprovisioned for credit losses on the assumption that the economy would head south. But when government stimulus packages put wads of cash in…

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