Infrastructure
Lehman likely to recoup value of derivatives trades
Counterparties to derivatives trades with Lehman Brothers that are currently in-the-money for the bankrupt estate will not be able to hold off payment indefinitely, predict lawyers.
Just another tool in the box
Credit ratings
ASF 2009 highlights challenges for securitisation market
The annual conference for securitisation professionals, held in Las Vegas, showed that the industry is under no illusions about the difficulties it is currently going through, but that there is a collective will to turn the situation round. Mark Kahn of…
Crunch time for autos
The world's carmakers are battling for survival. Should bondholders shun the sector or is there value in the firms best placed to beat the recession? Nikki Marmery reports
ASF 2009 highlights challenges for securitisation market
The annual conference for securitisation professionals, held in Las Vegas, showed that the industry is under no illusions about the difficulties it is currently going through, but that there is a collective will to turn the situation round. Mark Kahn of…
Swap shop
The International Swaps and Derivatives Association, under its chief executive Bob Pickel (right), is the trade body for dealers of, amongst other things, credit derivatives. As such, Pickel and his members are at the centre of a storm raging around the…
Dealers and regulators: Who will blink first?
High noon for CDS Clearing
What to do with the toxic debt
The issue of how to tackle the vast quantities of impaired assets lingering on banks' balance sheets has given rise to several possible solutions, chief among which is the notion of a 'bad bank'. Credit asks five market participants how such a scheme…
'Big bang' protocol provides wake-up call for CDS market over credit event settlement
A new scheme for adjudicating on credit event auctions, consisting of a centralised committee, will replace the old system of ad hoc decision-making
Lehman counterparty hold-outs warned to pay up on credit derivatives contracts
Counterparties may find that the legal process is stacked against them if they continue to resist payment of outstanding derivatives contracts with the bankrupt Lehman Brothers, say lawyers
Q&A: Dottie Cunningham
The CEO of the Commercial Mortgage Securities Association talks about the likely effect of the TALF scheme on the CMBS market
Roche
An in-depth look at the primary market's most innovative transactions. This month: the $16bn deal from Swiss pharma firm Roche, and Westpac's yen issue
Missing link
Banks are unable - or unwilling - to hold bond inventory for resale in the secondary markets, meaning that their traditional role as middleman in the buying and selling of bonds is not being fulfilled. William Rhode looks at whether things will continue…
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