Structured products
Academy Insight
Corporate statement
One-way fear
ABX Index
Rating knock-outs
Constant proportion debt obligations
Less is more
Utilities are leading the chorus for greater energy efficiency in the US. But, as David Watkins discovers, their drive to secure profits while selling less power is proving to be a major regulatory challenge
The business of saying no
Rising energy prices have caused an upturn in demand response - or energy curtailment - in the last two years. Elisa Wood looks at how this is impacting power markets
Joint efforts pay off
Central banks
Rocked to the core
Comment
Shinsei launches 'hybrid' bond
Japanese bank's first covered bond is deemed riskier than its European counterparts
Up for grabs
M&A
A unifying approach
Economic Capital
Interest rate risk of mortgage servicing rights
Dick Boswinkel and Kent Westerbeck examine the behaviour of mortgage servicing rights' duration and convexity and explain how they relate to the prepayment assumptions used in valuing MSRs
Steward's enquiry
Hermes' David Pitt-Watson gives an owner's perspective on the troubles at UK lender Northern Rock, and details the changes he believes would prevent a repeat of the credit crunch in future. Interview by Rob Mannix
Joined-up thinking
Platform's Piero Bassu tells Dippy Singh how keeping an eye on all aspects of risk has stood the subprime lender in good stead while its less disciplined peers have foundered
Market mulls implications of Northern Rock rescue plan
While some welcome any initiatives to reopen the securitisation market, others question whether the government's guarantee gives the lender an unfair advantage
Next big hurdle looms for Sivs
Structured investment vehicles face the prospect of refinancing $170bn of medium term notes
Improvement in ABCP outlook sparks hopes of recovery
A pick-up in the issuance of asset-backed commercial paper is being seen as a sign that the market is near or at the bottom, although European observers remain cautious
Sweet release
Equity release
Nirvana for some
Commercial property