RBS to restructure Cheyne SIV

Royal Bank of Scotland has signed a deal to restructure Cheyne Finance, a structured investment vehicle (SIV) managed by Cheyne Capital Management, the London-based hedge fund and CDO manager.

The bank, which has not arranged or managed an SIV to date, has negotiated an exclusivity agreement with the receiver, accountancy firm Deloitte.

The vehicle suffered a net asset value drop from 91% on July 27 to 30% on October 18 this year. The losses stem from exposure to US residential mortgage-backed

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

If you already have an account, please sign in here.


Want to know what’s included in our free membership? Click here

This address will be used to create your account

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 individual account here