Credit - 2009-03-01

Missing link

Banks are unable - or unwilling - to hold bond inventory for resale in the secondary markets, meaning that their traditional role as middleman in the buying and selling of bonds is not being fulfilled. William Rhode looks at whether things will continue…

Roche

An in-depth look at the primary market's most innovative transactions. This month: the $16bn deal from Swiss pharma firm Roche, and Westpac's yen issue

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…

From alpha to omega

The standard measures of credit risk do not efficiently capture the possible distribution of losses on a portfolio. But the Omega function may provide a solution for investors. Gene Yeboah

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…

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…

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…

Crunch time for autos

The world's carmakers are battling for survival. Should bondholders shun the sector or is there value in the firms best placed to beat the recession? Nikki Marmery reports

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…