Credit risk
Monolines - the nuclear option
XL Capital Assurance and Financial Guaranty Insurance Company (FGIC) face legal action by three banks after cancelling insurance contracts they had written on asset-backed securities transactions.
JP Morgan raises Bear Stearns offer to $1.18 billion after shareholder unrest
JP Morgan has raised its proposed purchase offer for Bear Stearns to $10 a share in a move designed to assuage the anger of Bear shareholders incensed by JP’s initial offer of just $2 a share.
Standard swap-deliverable CCDS expected soon
A working group of about 10 major dealers and brokers could be just two months away from producing a standard contract for swap-deliverable contingent credit default swaps (CCDSs), predicted a person close to the group.
How fair is fair value?
Accounting
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
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
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
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
Default lines
Credit ratings
Marking to make-believe
Opinion
Spiralling debt
Cover story
The liquidity link
Economic capital
Confidence intervals for corporate default rates
Rating agency default studies provide estimates of mean default rates over multiple time horizons but have never included estimates of the standard errors of the estimates. This is due at least in part to the challenge of accounting for the high degree…
Turning on tables
Basel II
A matter of trust
CDO Ratings
Going the wrong way
Counterparty Credit Risk
Credit evolution
Editor's letter
HSH Nordbank alleges fraud by UBS over CDO
HSH Nordbank has filed a suit against UBS, claiming fraud caused it significant losses on a $500 million investment in a subprime mortgage-linked synthetic collateralised debt obligation (CDO) sold to the German bank in 2002.