-
The long-anticipated ISDA auction settlement of Lehman CDS trades takes place today (October 10) amid heightened nervousness in the market about what the impact of the final settlement price will be. The key issue in the Lehman auction is the net open interest (buyers versus sellers) for the contracts – wh
Published October 2008 euromoney.com
-
Despite approval of Paulson's bailout plan, it's not too late to devise a better approach than the one the Treasury has put on the table. Peter Lee looks at alternative strategies that might prove sharper.
Published October 2008 euromoney.com
-
As Hank Paulson seeks to resubmit his action plan to save the US financial system, Euromoney considers whether he was ever the right man for the job, asks the questions that he desperately needs to answer, and analyses the mistakes he has made which mean, whether his bill is eventually passed or not, he has
Published October 2008 euromoney.com
-
The government bailout of mortgage agencies Fannie Mae and Freddie Mac has made the case for covered bonds in the US less compelling. After the collapse of the government sponsored entities (GSE), the need for alternative funding methods should have been clear. Instead, with the debt of both entities tighten
Published September 2008 Liquid Real Estate Issue 07
-
The UK non-conforming mortgage market – colloquially known as sub-prime – was the only fully fledged non-prime mortgage market in Europe. It was one of the first sectors to suffer contagion from the US sub-prime crisis. Indeed, spreads on non-conforming RMBS began to widen in March 2007 – well before t
Published September 2008 Liquid Real Estate Issue 07
-
Property derivative volumes have rebounded, surpassing pre-credit crunch levels. This surge is driven mainly by hedge funds and institutional investors. However, the group of end-users that could benefit the most from these instruments has largely stayed out of the market. Have direct property owners missed
Published September 2008 Liquid Real Estate Issue 07
-
The future of US mortgage agencies Fannie Mae and Freddie Mac is in the hands of politicians. Hours after the $200 billion bailout was announced in early September, Senate Democrats were calling for hearings to analyse the causes of the government-sponsored entities’ (GSE) demise. How the agencies look aft
Published September 2008 Liquid Real Estate Issue 07
-
Royal Bank of Scotland’s Vesteda Residential Funding II commercial mortgage-backed securitization has shown that there is appetite for high-quality paper from well-known issuers. The €150 million five-year deal, executed in July, is the only externally placed CMBS in Europe this year, according to RBS. T
Published September 2008 Liquid Real Estate Issue 07
-
Concerns have been mounting in recent months that the liquidity schemes offered by the European Central Bank and the Bank of England are being misused by borrowers and are thwarting the recovery of market-based funding, including the MBS market. Announcements from both central banks in September addressed th
Published September 2008 Liquid Real Estate Issue 07
-
Published September 2008 Liquid Real Estate Issue 07
-
“This is the least costly path,” US Treasury secretary Hank Paulson told Sunday morning talk-show viewers when he was out selling his $700 billion bail-out package at the end of September. At the time, details of his plans for the US Treasury to buy impaired residential and commercial mortgage assets fro
Published September 2008 Liquid Real Estate Issue 07
-
Euromoney September 2008
-
Concerns about an economic slowdown now weigh on capital markets.
Euromoney September 2008
-
Euromoney September 2008
-
US leaders might ponder the lessons of Venezuela and Iran.
Euromoney September 2008
-
Euromoney September 2008
-
The blow-up of corporate trades in China might lead to regulatory restraints on transparent, run-of-the-mill derivatives use.
Euromoney September 2008
-
Bankers are in the final stages of preparing Iran’s first ever securitization, according the head of a Tehran investment bank.
Euromoney September 2008
-
Despite a new round of fundraising for distressed ABS, a market floor is not necessarily in sight.
Euromoney September 2008
-
The reintroduction of mandatory market-making in Pfandbriefe has not gone smoothly.
Euromoney September 2008
-
Georgia’s ill-fated attempt to prevent the secession of South Ossetia and Abkhazia is set to cost the country billions of dollars, but financial backing from western Europe and the US should help to ensure that the country’s economy remains one of the most open and business-friendly of the states that we
Euromoney September 2008
-
Euromoney September 2008
-
Under his presidency, Pakistan made huge progress in attracting foreign investment, privatization and bolstering the banking system.
Euromoney September 2008
-
Euromoney September 2008
-
Government intervention in financial markets goes against the grain of any US administration. However, it appears preventing closure of the mortgage finance markets is more important than ideology.
Euromoney September 2008
-
Euromoney September 2008
-
As Euromoney asks for his views on fair-value accounting, the European bank chief executive carefully sets down his fork in the plate of scrambled eggs before him, slumps back in his chair and rolls his eyes. The press relations lady squirms uncomfortably and leans across the breakfast table, whispering: “
Euromoney September 2008
-
Questions abound over the future of the securitization business and the entire originate-to-distribute model.
Euromoney September 2008
-
Euromoney September 2008
-
Euromoney September 2008