Corporate loans
European credit model outputs vary wildly
Risk densities range widely and out-of-sync with average probabilities of default
Credit data: UK retail sector’s woes continue
High street fails to get over Christmas slump; elsewhere, global PDs remain in flux, writes David Carruthers of Credit Benchmark
Credit data: a tough year for South African financials
Default risk rose steadily for 36 firms during Zuma’s final months of rule, writes Credit Benchmark’s David Carruthers
Swiss loans may struggle with Libor transition, warn lawyers
Lack of standardisation means fallback clauses may be unable to handle move to Saron
‘Catching the outliers’ does not always make sense for Basel
The capital impact of Basel III on Nordic banks is disproportionate to the risks they face
IFRS 9 prompts Asian banks to downgrade loan books
DBS raises provisioning on weaker energy loans fourfold in third quarter, citing rules impact
Monthly credit data review: new-tech scepticism
David Carruthers of Credit Benchmark looks at the most recent trends in bank-sourced credit data
R3 set to unveil blockchain for syndicated loan trades
Credit Suisse, US Bank and others to showcase results in March; no update on Digital Asset and JP Morgan project
Default risk floors threaten €72bn of RWAs in EU
Risk.net analysis finds PD floor would hit a swath of low-risk corporate loans at the biggest EU banks
'Unnecessary' Irish SME lending constraints hit hedge funds
Multi-strategy funds blocked from originating loans
Large hedge funds highly exposed to asset-backed securities
Biggest funds also exposed to US junk corporate debt
Insurers seize opportunities in European corporate funding markets
As European insurers increasingly invest in illiquid corporate debt, credit funds and partnerships with banks are helping them overcome their lack of expertise and tap into a market that offers high-yields and a chance of diversification. But markets…
Danske Bank RWA spat worries modelling experts
Model-bashing
Indian corporates count forex losses from rupee depreciation
Living on the hedge
Family offices find an appetite for credit risk
Family wealth funds are dumping hedge fund positions and taking control of their own investment decisions. But as some move into direct lending – to replace retreating banks – they face new risk management challenges. Peter Madigan reports
Insurers ramp up commercial loan portfolios in response to Solvency II delays
Firms seek short-term opportunities before directive implemented
Basel II implementation in Vietnam by 2015 remains challenging
While the Vietnam regulator is consulting on setting up an asset management company to take on NPLs to help clean up domestic banks' balance sheets, slow progress is being made towards Basel II
Hedge fund enables insurers to capitalise on bank deleveraging
Tenax Capital fund will buy bank loans and provide debt capital to corporates
Dealers pitch loan format for swaps as CVA dodge
Banks are offering to replicate the economics of OTC swaps in loan format - avoiding new capital and clearing rules
CPM functions go back to basics
Old-school value