BNP stands tall in toxic wasteland
Having escaped the worst of the financial turmoil, BNP Paribas is voted best in Asia for credit-linked structured products, snatching top spot in Asiamoney’s Structured Products Poll category from last year’s winner Citi. Interest in simple products has gradually returned, with attractive deals to be found in dislocated credit markets.
The most opaque asset class in the jargon-filled world of structured products has to be credit, with its alphabet soup of acronyms.
Collateralised debt obligations (CDOs), residential mortgage-backed securities (RMBS) and asset-backed securities (ABS) are just some of the instruments that many people purported to understand, but in reality
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