News in Brief

Taiwanese banks, Chinatrust and Taishin, launched collateralised bond obligation (CBO) transactions that aim to alleviate the risks from holdings of illiquid structured notes by the island's bond funds. A Chinatrust special purpose trust issued NTD9 billion ($273 million) worth of AAA-rated senior certificates, due October 2010, paying 20 basis points over the Taiwan dollar commercial paper rate and NTD9 billion of junior certificates due January 2046 with interest of 0.5% per annum.

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