CLO market appeals to yield-hungry investors

piggy-bank-asia

The resurgence of the US collateralised loan obligation (CLO) market over the past 12 months has led to increased interest from Asian institutional investors looking to buy CLOs, say market participants.

2012 was the fourth highest year on record in terms of issuance, with $55 billion in new deals, compared with $12 billion in 2011 and in 2009 and 2010 where there was virtually none (see chart). Last year surpassed the total of all deals done between 2008 and 2011 with Bank of America Merrill

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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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