Credit-linked note (CLN)
Capital rules explain leverage craving in US bank risk transfers
Tougher requirements have led to conservative structuring and lower coupons
A pricing model with dynamic credit rating transition matrixes
This paper incorporates a stochastic credit rating transition matrix into the Acharya–Das–Sundaram model and implements a simulation based pricing method
Structured products house of the year: Credit Suisse
Risk Awards 2021: private bank tie-up provided vital risk-sharing outlet for Covid volatility
Structured products house of the year: Goldman Sachs
Asia Risk Awards 2020
Credit derivatives house of the year: Barclays
Risk Awards 2020: UK bank showed flow strength in Thomas Cook default – and product range is growing
Structural snags frustrate STS for synthetics
Curbs on excess spread and collateral stymie route to ‘high-quality’ signifier
Credit derivatives house of the year: Societe Generale
Asia Risk Awards 2019
German CDS switch creates credit-linked note mismatch
Note issuers fear losses after relabelling of swap contracts creates subordination discrepancy
Duelling repack platforms find common ground
Standard documentation initiative mulls shared SPV model as founders seek to join rival
Structured product innovation under threat, say distributors
Structured Products Europe: Regulatory burdens holding back new structures
German industry gears up to oppose CLN ban
German Derivatives Association argues ban is unlawful
Building credit: China's CDS market faces headwinds
Regulatory fragmentation threatens take-up of planned new credit instruments
Risk España Rankings 2016
Global banks advance in the scramble for supremacy
Dealers overpricing CLNs, research suggests
Information asymmetry and illiquidity driving up prices
Structured products house of the year: SG CIB
Banks needed agility as well as scale to succeed in structured products in 2015
Flip clause ruling nets Lehman estate $3 billion
Judge warns legal uncertainty remains, however
FICC products house of the year: Crédit Agricole Corporate & Investment Bank
Rebuilt fixed-income business wins plaudits
Europe house of the year: Societe Generale
Focus on credit pays dividends for French bank
Skandia combats low interest rates with credit-linked notes
Alistair Campbell talks about the outlook for the market
Inversis taps demand for CLNs on Spanish corporates
Increased activity in credit-linked notes based on Spanish corporates has been the main feature of Inversis Banco’s latest structured product offerings. Jonathan López hears how Spanish investors are regaining confidence on local names that suffered…
Structured Products Asia: interest rate rises provide market opportunity
Fixed-income investors are looking at structured products to enhance yield and manage duration