ISDA Prepares ABS Standardization

The International Swaps and Derivatives Association is developing a standard set of definitions for credit events on credit-default swaps referenced to asset-backed securities.

  • 09 May 2004
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The International Swaps and Derivatives Association is developing a standard set of definitions for credit events on credit-default swaps referenced to asset-backed securities. Louise Marshall, spokeswoman in New York, said the association is preparing a draft to standardize pay-as-you-go as well as cash and physically settled definitions. ISDA recently asked its members whether it should write a standard set of definitions for ABS referenced swaps (DW, 2/29). ISDA plans to circulate the draft shortly and will schedule a conference call in a couple of weeks to discuss the paper, she said.

"This process just started but there's quite a lot of interest globally," said an ISDA member in Japan, noting that the standards should likely be finalized in the next few months.

  • 09 May 2004

All International Bonds

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1 Citi 358,291.38 1348 9.06%
2 JPMorgan 320,704.66 1461 8.11%
3 Bank of America Merrill Lynch 318,128.31 1104 8.04%
4 Goldman Sachs 236,643.87 789 5.98%
5 Barclays 231,197.41 895 5.84%

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Rank Lead Manager Amount $m No of issues Share %
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1 HSBC 35,007.57 165 6.53%
2 Deutsche Bank 34,880.53 120 6.51%
3 Bank of America Merrill Lynch 31,805.65 97 5.93%
4 BNP Paribas 27,920.60 169 5.21%
5 SG Corporate & Investment Banking 24,398.89 138 4.55%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 19,745.92 80 8.85%
2 Morgan Stanley 16,334.63 83 7.32%
3 Citi 15,972.34 95 7.16%
4 UBS 15,487.17 60 6.94%
5 Goldman Sachs 14,053.61 76 6.30%