Credit markets
The prepay delay
Municipal natural gas prepayment deals withered in the second half of 2007 as a result of the credit crisis. While this year has seen a trickle of new deals, greater problems may be lurking. David Watkins reports
A changing carbon market climate
The EU Emissions Trading Scheme is stepping up a notch with a batch of new measures for its Third Phase. Andrew Holt finds out what carbon market participants think of the new proposals
Modelling default rate in a retail portfolio and the estimation of portfolio risk
Considering correlation as the major driving factor for portfolio risk, Farshad Mashayekhi and Joy Wang present a methodology for the estimation of correlation among retail exposures based on historical default rates in pools of retail accounts. The…
Primed to recover
Netherlands
Bradford & Bingley upbeat but writedowns worry rating agencies
As banks report losses on their asset portfolios, concern from raters continues. Yet despite reports of an increase in mortgage arrears, B&B remains confident, especially in the buy-to-let market
How fair is fair value?
Accounting
Banks slam structured finance accounting change
A revision in the way UK banks have to account for structured credit exposure has caused ripples in the market - at a time when financial institutions are crying out for a period of stability
The end of the monoline?
Fears that monoline bond insurers would lose their triple-A ratings rocked global capital markets in February. As bankers, regulators and industry chiefs gawp at the cracks in the insurers' foundations, Daniel Andrews investigates where it all went wrong…
CPDCs aim to lure structured credit-shy investors back to market
Credit derivative product companies, which offer counterparty protection against credit defaults, are looking to take advantage of wider CDS spreads to generate new business
Back to basics
We take you back to the credit basics to review everything you thought you already knew but were too afraid to ask... Teresa Callaghan, at credit management firm Transcom, looks at the debt sale market
Q&A: Samir Pandiri
Evaluating structured credit deals in the current environment is a challenge. The head of international corporate trust at Bank of New York Mellon talks diversity, independence and standardisation
Talking point - New securitisation markets
On the back of news that Japan is to securitise public sector receivables for the first time, we ask market participants about where they see development in new securitisation markets in 2008
After the storm
The structured credit market has been battered by recent events, with investors retreating to the high ground. But now that signs of calm are returning, what kinds of structures can investors look forward to? Hardeep Dhillon reports
Deals of the month
Unicredito Italiano and Dexia Group
Legal spotlight
The implications of Basel II on UK financial institutions have been far-reaching. Benedict James and Lisa Murray of law firm Linklaters look at banking books in the loans market
Putnam Investments - A specialist approach
Putnam Investments is in the business of managing portfolios, but, curiously, it doesn't employ any portfolio managers. Instead, the firm has built a team of specialists that focus on specific sectors. Matthew Attwood talks to two lynchpins of the fixed…
Driven to distress
One man's bankruptcy is another man's opportunity. Distressed debt funds, which profit from companies that are in financial trouble, have performed poorly in recent years. But with the effects of the credit crunch expected to hit corporate issuers in the…