Structured products
Valuing CDOs of ABSs
Charles Smithson and Neil Pearson discuss the valuation of collateralised debt obligations (CDOs), with a close look at CDOs of subprime residential mortage-backed securities
Deception and lies
Fraud
Core value
First American CoreLogic is said to be close to finalising a deal with a rating agency to provide loan level data as part of industry efforts to improve transparency and standardise information. Han-Nee Tay talks to Walter Allen, senior vice-president of…
Credit tighter for certain
Opinion
Fannie Mae and Freddie Mac plan $200bn in mortgage purchases
US agencies ready to buy after housing regulator relaxes capital requirements
ECB repo facility 'may hinder securitisation market recovery'
Analysts warn that the European Central Bank's cheap funding is reducing banks' incentive to return to the public asset-backed securities market
More RMBS downgrades possible, warns Standard & Poor's
Rating agency simulations highlight that next 18 months could see ratings cuts and house prices fall
Turning on tables
Basel II
Democrat proposals provide template for borrower bailout
Broad government support for troubled borrowers looks more likely in the wake of Fed action on Bear Stearns. Bills put forward by two leading US politicians point to what form it might take
Europe's mixed fortunes
Opinion
Doubts that UK government kitemark scheme will fly
'Gold standard' plan for bonds gets mixed reception, with industry watchers divided over whether it gives the market much-needed direction or fails to offer any real assurances
Central banks pull together for second co-ordinated bailout
Banks launch another set of emergency auctions in reaction to ongoing liquidity pressures
Hyman Minsky and the credit crisis: How much do regulators know about today's finance?
The credit markets experienced their very own 'Minsky moment' last summer, when great swathes of financial instruments imploded under the weight of their own debt. But should regulators have predicted this crisis and done something to prevent it? By…
Talking Point - Regulation through the credit crisis
The role of the regulator has been highlighted by the ongoing turmoil in the credit market. What response can we expect from regulators in the months to come?
Gloomy outlook forces credit analysts to jump ship
The credit market is losing the expertise of many leading analysts and strategists who are switching jobs in the worsening climate - at the very time when their research skills could be most needed
Credit risk: learning from the crunch
New business opportunities bring new risks. The market innovations that helped precipitate the credit crisis demonstrate that a complex new approach to risk management is required - and that means thinking beyond models based on derivatives and Basel II,…
RMBS investors sceptical over 'gold standard'
The creation of a gold standard for RMBS issues, as proposed by the UK government, could merely be another way of confirming the quality of the underlying assets and do little to help investors