Central banks/Foreign exchange
ASF 2009 highlights challenges for securitisation market
The annual conference for securitisation professionals, held in Las Vegas, showed that the industry is under no illusions about the difficulties it is currently going through, but that there is a collective will to turn the situation round. Mark Kahn of…
ASF 2009 highlights challenges for securitisation market
The annual conference for securitisation professionals, held in Las Vegas, showed that the industry is under no illusions about the difficulties it is currently going through, but that there is a collective will to turn the situation round. Mark Kahn of…
Swap shop
The International Swaps and Derivatives Association, under its chief executive Bob Pickel (right), is the trade body for dealers of, amongst other things, credit derivatives. As such, Pickel and his members are at the centre of a storm raging around the…
Dealers and regulators: Who will blink first?
High noon for CDS Clearing
What to do with the toxic debt
The issue of how to tackle the vast quantities of impaired assets lingering on banks' balance sheets has given rise to several possible solutions, chief among which is the notion of a 'bad bank'. Credit asks five market participants how such a scheme…
Rick Watson
Securitisation has been damned as the carrier that took the subprime contagion to institutions across the world, but the head of the European Securitisation Forum insists that the real economy needs this funding source more than ever. Matthew Attwood…
Capturing dividends
Cover Story
Dead in the water?
Basel II
De Larosière report backs calls for a European regulator
Daily news headlines
Speculation over regulation mounts as Madoff lawsuits rack up
European investment funds are preparing to face tighter regulation in the wake of the Madoff scandal.
Global carbon trading to grow by 20% in 2009
The global carbon market will see a 20% boost in volume in 2009, according to the latest figures from Point Carbon.
Bernanke: Public-private partnership required to value toxic assets
The involvement of both the public and private sectors is essential to accurately value illiquid assets before public funds are used to remove them from dealer balance sheets, Federal Reserve chairman Ben Bernanke claimed yesterday.
LCH.Clearnet bid sparks conflict-of-interest debate
A proposal by a consortium of major derivatives dealers to acquire London-based clearing house LCH.Clearnet has led to suggestions that banks becoming intimately involved in the clearing process could present a conflict of interest.
CAP details expose transatlantic split on capital
Today's news that the US Treasury and other regulators may compel US banks to raise capital levels puts them even more at odds with UK and European overseers, who have downplayed the need for more capital in recent weeks.
Trichet: Eurozone CCP will help improve oversight
European Central Bank president Jean-Claude Trichet backed a central counterparty (CCP) for clearing credit default swap (CDS) trades in the eurozone today, in a speech that also called for banker compensation to be linked to avoiding excessive leverage.
Federal Reserve extends liquidity programmes
The Federal Reserve has extended the deadline for its existing liquidity programmes by six months, to October 30, in a sign of continuing strain on financial markets.
A capital offence
In believing that healthy capital reserves would enable banks to weather the credit crisis, lawmakers and banking chiefs neglected one important fact, says Suresh Sankaran of Fiserv IPS-Sendero: that robust capital adequacy ratios do very little to keep…
Legal Spotlight
The ECB has set minimum standards that ABS must meet if issuers are to use the securities as repo-eligible funding. Angus Duncan assesses the impact of these new rules on existing ABS
ABS collateral pools to deteriorate in 2009
Two largest rating agencies predict global economic slowdown will hit loans underlying most asset-backed securities, with consumer loans in UK, Ireland and Spain worst affected
The repo effect
The ability of banks to use securitisation deals as collateral for repo funding from central banks has resulted in larger deals with more esoteric assets. Laurence Neville looks at how this change is affecting the securitisation market as a whole