Securitisation
US regulators told to expand stress-test programme
The US Treasury should expand its bank holding company stress-testing programme to include smaller firms, the Congressional Oversight Panel said on August 11.
Red dawn for Russian securitisation
It has been a dark time for Russia's securitisation market, but the addition of RMBS to the list of eligible assets for the central bank repo facility is raising hopes that a wave of new deals will herald a return of investor demand and re-energise the…
The bank capital burden
Keenly awaited Basel II trading book rules were due to be decided upon as Risk went to press. Market participants worry the measures could retard the development of risk models and even kill off whole business lines Mark Pengelly reports
A steadier ship
Cautious optimism pervaded the fourth annual Structured Products Americas conference, held in May at the Biltmore Hotel in Coral Gables in Miami. Speakers and panellists seemed happy to reacquaint themselves with terms such as volatility, correlation and…
A capital lifeline?
Guaranteeing investors' capital with your own bonds has always been a convenient way for banks to borrow money from investors at the same time as offering them a cut in the upside of the chosen underlying in a structured note. Such fundraising is often…
Building on Basel II
Editor's letter
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…
Q&A: Dottie Cunningham
The CEO of the Commercial Mortgage Securities Association talks about the likely effect of the TALF scheme on the CMBS market
Where rocky horror assets go
With injections of government capital seemingly having little effect on restoring confidence in ailing banks, thoughts have once again turned to quarantining distressed assets. Rob Davies examines the options available to policy-makers
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
Is it too late to revive the securitisation market?
First we were told it was undergoing a temporary hiatus, then it was stalled, now they're saying it's broken altogether. William Rhode takes a look at the global securitisation market to see what, if anything, can be done to restore its fortunes
Fool's gold - How securitisation promised much ... but delivered little
The notion that securitisation as a technique is able to increase liquidity in the financial system by making marketable securities out of hitherto illiquid debt has been exposed as flawed, argues Anastasia Nesvetailova. It's not that financial…