STRUCTURED CREDIT - Asia survives sub-prime storm

Haunted by memories of the Asian financial crisis, risk-averse banks from across the region have on the whole had fairly limited exposure to US sub-prime loans. Such a conservative mindset dictated that they bought highly rated tranches in any case. But while sentiment has evidently suffered, observers remain cautiously optimistic that the prognosis for this nascent market is still healthy. Rupert Walker reports.