Credit - Volume 9 / Issue 7
Articles in this issue
CDS clearing house tops regulators' to-do list in drive to tackle counterparty risk
The New York Fed is keen to establish a central clearing house for CDS, with CCorp poised to launch such a service. But will the recently merged Creditex-ICE throw its hat into the ring?
Nigel Sillis
The director of fixed-income and currency research at Baring Asset Management talks to Matthew Attwood about bubbles, credit risk and mushroom picking
A new 'information age' for credit
Credit Crisis
An agency for change
After years of talk about rating agency reform, regulators - spurred by the credit crisis - are acting, with the New York attorney general vowing to root out practices that he believes contributed to recent events. But some market observers have rounded…
Malaysia Investors warned to mind the ratings gap
This year has seen a flood of bond issuers tapping the Malaysian markets but investors should be aware that local agencies are working on a different ratings scale to international standards
Called to account
Dealers have criticised fair value accounting on illiquid assets as exacerbating the subprime crisis. A growing number of banks and industry bodies have called for a suspension of mark-to-market accounting for illiquid instruments. Are the accounting…
Gulf states face inflation threat to single currency
Plans by the Gulf Co-operation Council to launch a single currency by 2010 are beginning to look optimistic, with the spectre of runaway inflation throwing the whole scheme into doubt
A new measure of credit value
Market Graphic
A silver lining for quants
Salaries might be flat at best compared with 2007 but quants' unique skillsets are in demand
We're all Swensenians now
The appeal of commodities used to be the equity-like returns combined with low correlation to stocks and bonds. That all changed once the commodities bandwagon started rolling
Jeff Sprecher & Sunil Hirani
The chairman and CEO of derivatives exchange ICE and the CEO of derivatives processing firm Creditex talk about the companies' recent merger, and how the CDS markets will cope with a unique set of challenges ahead
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 ... Avarina Miller, senior vice-president at Demica, looks at trade receivables
Cash bonds take a different track
As anyone on the financial markets rollercoaster will know, predicting the future path of your investments is next to impossible, particularly in the current economic climate. But a dislocation has appeared between the equity/CDS markets, which are…
Grahame Mcgirr & James Bagshawe
All the talk in the financial markets is about going back to basics. This drive towards simplicity and transparency is what underpins Islamic finance. Credit speaks to two senior executives from recently launched Shariah house Gatehouse Bank about a…
Tell us all about it ..
Comment
Faking it
Insider fraud
Moody's slashes Ambac, MBIA ratings
Securities wrapped by Ambac and MBIA also suffer
Liquid gold?
Covered bonds
SEC hits out at credit rating agencies over RMBS
Two ratings agencies issued ratings on products even though outstanding issues were raised
Structural modelling of subprime mortgages
With the economy still suffering from the waves of the credit crunch, triggered by a housing price slump, Yong Kim provides a structural model of subprime mortgages based on housing market risks. Given the enormity of the subprime mortgage market failure…
Back in Black
New York-based asset manager BlackRock's buying up of distressed mortgage portfolios - most notably its purchase of UBS's portfolio of subprime and other non-agency securities totalling approximately $22 billion - has been making headlines. What does it…
That sinking feeling
Underwater loans
Talk is cheap
Rating agencies
Investors should heed lessons of credit crisis
Choose products carefully, warns BNP Paribas, Tighten up risk infrastructure, says the OECD's Hans Blommestein
Auto pilots
Distressed assets
Buckle up
Market Analysis