Securitisation
Next big hurdle looms for Sivs
Structured investment vehicles face the prospect of refinancing $170bn of medium term notes
Improvement in ABCP outlook sparks hopes of recovery
A pick-up in the issuance of asset-backed commercial paper is being seen as a sign that the market is near or at the bottom, although European observers remain cautious
Drying up down under
Liquidity in Australia's nascent structured credit market has suffered as a result of the subprime squeeze, leading to an inevitable bout of finger-pointing. Marion Williams reports
Legal spotlight
The structured credit market is facing a new paradigm as we emerge from the credit crisis. Angus Duncan and Robert Cannon look at the kind of structures we can expect to see in 2008
Herd mentality
The unbridled success of the credit derivatives market over the past few years - until last summer, that is - had led large numbers of investors to adopt similar positions in the sector. Such risk concentration was always likely to cause problems if the…
Offshore insecurity
Securitisation
Auf den VaR kommt es an
VaR-Umfrage
Von Herabstufungen aus der Bahn geworfen
Collateralised Commodity Obligations
Chaos bei der Marktwertanpassung
Strukturierte Kredite
SIVs brauchen Unterstützung
Strukturierte Investmentvehikel
Credit tails
Model Risk
Asian payoff
Cover story
Standard Chartered will fund troubled SIV
Standard Chartered has taken a second vertical slice of its Whistlejacket structured investment vehicle (SIV) and will consolidate the whole $7 billion structure onto its balance sheet, the bank announced today.
UBS startles market with $14 billion writedown
UBS revealed this morning that it had taken even more damage from the US subprime debacle than it expected, with writedowns totalling $14 billion.
JP Morgan wins Derivatives House of the Year award
JP Morgan has won Risk magazine’s Derivatives House of the Year award. The US bank was widely praised by end-users for continuing to provide liquidity during the turmoil of the third and fourth quarters last year, showing strength across all asset…
Agencies rethink market risk rating methods
The three largest global rating agencies are reconsidering their approach to rating structures exposed to fluctuations in market value, with potentially unpalatable results for holders and arrangers of various structured credit products.
BNP Paribas rejigs CLO team, bolsters CDOs
BNP Paribas is understood to be reviewing its collateralised debt obligation (CDO) activities, with a particular focus on the cash side of the business.
Banks intensify SIV firefighting efforts
Banks are scrambling to revive flagging structured investment vehicles amid downgrades and souring market values. Is there a case to answer for the rating agencies?
Talking point - 2008 outlook
Talkingpoint
Profile - Andrew Kasapis
Matthew Attwood talks to Credit's new columnist Andrew Kasapis, director of consultancy Credit Hedge Ltd, about what was behind this year's subprime snarl-up