Lean liquidity

Range accruals


Pressure is mounting in the Taiwanese markets for new exotic products that can hold local money in local pockets. And range-accrual notes, as the current structured product of choice for Taiwan's trust funds, hold significant potential to curb the outflow of cash abroad over the coming year.

Range-accrual notes are useful when investors believe that an underlying - typically interest rates - will remain in a certain range during a pre-specified period of time. Each coupon is based on the numb