Structured products
FSA official warns banks off buying securitised products
Banks will have to review their motivations for buying securitised products, a leading official at the UK Financial Services Authority (FSA) has warned.
Toxic loan PPIP purchases postponed, feared dead
The purchase of distressed whole loans using taxpayer funds under the US Treasury's Public-Private Investment Program (PPIP) has been postponed, the Federal Deposit Insurance Corporation (FDIC) has announced, raising speculation that the scheme might be…
US Wrap: Short tenor and S&P 500 dominate
Three providers launched four products into the US market yesterday, all offering participation in the S&P 500 index's performance. None of the notes offer any tenor longer than two years, and one of the structures last only six months.
Forging an index
Efforts by BHP Billiton to create an iron ore index appear to be floundering as Chinese steel producers press hard for pricing advantage. Kathleen Kearney reports
OMG commits to new clearing and reporting targets
The Operations Management Group (OMG) on June 2 outlined its latest targets to improve the operational infrastructure of the over-the-counter derivatives industry.
Credit market won't be fazed by GM bankruptcy, say analysts
Despite its size, the largest industrial bankruptcy in US corporate history is unlikely to have much of an effect on the credit derivatives markets, suggest analysts.
Industry prepares for OTC regulation debate
The US Government has initiated what is set to be a lengthy and complex debate over proposals for the regulation of over-the-counter derivatives, finds Pauline McCallion
Steel industry looks to iron ore swaps
Steel producers remain sceptical of the benefits of hedging with futures contracts. Now interest in iron-ore derivatives could offer another way for steel players to hedge risk, finds Katie Holliday
UK pension BPA market to halve in 2009, predicts LCP
The market for transferring UK pension scheme risk to an insurance company could fall to £4 billion this year, which would be approximately half the level of 2008, according to a report published today by London-based actuarial consultancy Lane Clark &…
A steadier ship
Cautious optimism pervaded the fourth annual Structured Products Americas conference, held in May at the Biltmore Hotel in Coral Gables in Miami. Speakers and panellists seemed happy to reacquaint themselves with terms such as volatility, correlation and…
Editor's letter
While you ponder yet another acronym for structured products - they are now Prips, or packaged retail investment products, according to the European Union - reflect upon the fact that there has been some kind of progress in the calamitous world of…
CDS: Spreads rally on equities and postive China data
Credit default swap 5-year mid-levels for structured products issuers (June 1)
US Wrap: S&P 500 still dominates growth products
The S&P 500 continues to dominate growth products, despite the illusion of index diversity. Morgan Stanley launched a three-year leveraged participation note ahead of the weekend which linked to three indexes: the S&P 500, the Nasdaq 100 and the MSCI…
Help or hindrance?
The financial crisis has caused significant pain to Russian securitisation issuers. But an amendment by the Bank of Russia to include mortgage-backed securities on the list of instruments eligible for its repurchasing facility is fanning hopes of a…
Deal of the Month: Banco Santander
A report on the €1.5 billion issue from Banco Santander which reopened the Spanish covered bond market.
In the hiring line
Whisper it quietly, but the worst may be over in terms of redundancies as banks start to fill vacancies in what are perceived to be the next growth areas.