Deal of the Year - Constant Proportion Debt Obligation, ABN AMRO

The Risk Awards 2007

p49-jpg

Rarely does the release of a financial product cause such a stir. When ABN Amro unveiled a new deal called Surf and its underlying constant proportion debt obligation (CPDO) technology to investors last July, little could have prepared the Dutch bank for the barrage of criticism that was to follow.

In its first few months, Surf was blamed for a tightening of credit spreads that saw the iTraxx Europe reach record lows. Then came the regulators. Speaking at a conference organised

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: