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Structured products

Fed steps in to support CMBS market

The US Federal Reserve will start accepting legacy commercial mortgage-backed securities (CMBS) as collateral under its Term Asset-backed Securities Lending Facility (Talf), as the US commercial real estate market continues to struggle.

US Wrap: Is Barclays note flood sign of rebound?

Barclays Bank has launched 31 new reverse convertible notes into the US market, one of the most compelling signs yet of an upturn in issuance. By far the most prevalent theme was energy, which represented the underlying for 10 of the new notes. Financial…

New FASB standards threaten off-balance-sheet vehicles

The US Financial Accounting Standards Board (FASB) has completed new rules on off-balance-sheet holdings that will compel US companies to consolidate on balance sheet billions of dollars of assets previously kept in special-purpose entities (SPEs).

US Wrap: External credit and growth products dominate

The resurgence of bullish growth products is continuing in the US market, alongside the use of external credit providers to issue notes. Eksportfinans appears to be dominating the majority of this business, with two providers looking to the company to…

Barclays adds US option to Supertracker

Barclays Wealth has expanded its five-year Supertracker plan offering UK customers a US-option. The move comes in response to customer demand for more short-dated notes in current uncertain markets, says Colin Dickie, director of Barclays Wealth.

US Wrap: Momentum accelerates towards week end

Issuance gathered pace yesterday as four providers launched a diverse spread of 18 products. Bank of America unveiled accelerated growth and kick-out structures, neither of which offered exposure to the usual S&P 500 index, but instead exposed investors…

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