Structured credit

Introduction

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Not surprisingly, things got a little backed up as trading volumes recorded double-digit growth year after year. The UK Financial Services Authority (FSA) says deal volumes rose by 50% over the first half of 2005 – but the volume of unsigned confirmations rose by 70% over the same period. It was considered serious enough for the supervisor to write a letter to banks last February warning them about the level of unsigned confirmations – concern that was echoed by the New York Federal Reserve

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