Infrastructure/Regulation

Bair: US should pull back from Basel II

The US should back away from the "highly problematic" Basel II framework and instead turn its attention to fine-tuning the current Basel I Accord, Federal Deposit Insurance Corporation (FDIC) chairman Sheila Bair said yesterday.

Column: Charles Cronin

Flawed models, conflicts of interest, ineffectual leadership: the rating agencies have emerged from the financial crisis with little credit, and reform may strip them further of their influence

Inflated expectations

It may seem counterintuitive, given these deflationary times, but inflation-linked fixed income strategies are proving a hit with investors as fiscal stimulus raises the threat that inflation will take over in the medium term. William Rhode reports

Financial pricing for the 21st century

Putting a price on assets for which no active market exists is a process mired in complexity and no little controversy. But the pricing models of yesteryear are simply not up to the job. David Patrikarakos looks at the new generation of valuation models…

Danny Davis

Mishcon de Reya's insolvency expert talks about the need for companies to learn to rely less on external funding, and why a UK-style Chapter 11 process isn't necessarily a good idea

Back to basics

We take you back to the credit basics to review everything you thought you already knew but were too afraid to ask ... Susan Hinko of TriOptima explains multilateral terminations

It's payback time

If you still wake up in a cold sweat, haunted by the memory of opening your 2008 bonus slip, you're not alone. Credit professionals across the board saw their bonuses slashed last year. But not all banks were forced to scale back their remuneration…

The sovereign state

While the sovereign market has in the past been most readily associated with rates investors, it has always been a key part of the credit sector, most importantly as a benchmark for the pricing of corporate bonds. But credit default swap levels on…

Legal Spotlight

CDS dealers are under pressure to come up with a market-led solution to the clearing conundrum before regulators force one on them. Peter Green and Jeremy Jennings-Mares report

Fed divulges process behind bank stress tests

The US Federal Reserve has released details of the methodology behind its Supervisory Capital Assessment Programme (SCAP), the recently concluded stress tests conducted by regulators to ascertain whether additional capital replenishment is needed at the…

IMF: leverage best for determining bank bailouts

Leverage ratios, return on assets and stock data are among the most reliable indicators for predicting whether banks would require government intervention in the credit crisis, according to a study published by the International Monetary Fund (IMF) this…

Sting in the tail

Credit spreads on highly rated names have blown out to levels that are proving irresistible to many buy-and-hold investors such as pension funds. But tail risk in the form of increased default expectations is still a major consideration. Blake Evans…

On the crest of a wave

Corporate bond volumes have been soaring as companies scramble to meet their funding requirements in the wake of the loan market's demise. Simon Boughey looks at whether this wave of issuance is a temporary phenomenon or whether it heralds a permanent…

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