Paulson U-turn, Tarp will not buy toxic assets

The US Treasury has retreated from its plan to buy toxic ABS assets as part of its Troubled Assets Relief Programme (Tarp), Treasury secretary Hank Paulson said on Wednesday.

  • 14 Nov 2008
It will instead focus on helping recapitalise banks by buying their shares. Paulson said that it would only be used to buy up toxic assets perhaps in select cases.The decision had been taken because market conditions had worsened considerably during Tarp’s passage through Congress. "It was clear to ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 1,284 2 30.09
2 Barclays 633 1 14.82
3 BNP Paribas 509 1 11.91
4 Citi 467 1 10.94
5 Morgan Stanley 455 1 10.66

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 9,235.10 31 12.19%
2 Barclays 7,853.42 22 10.36%
3 Bank of America Merrill Lynch 7,473.95 24 9.86%
4 JPMorgan 7,225.34 25 9.54%
5 Wells Fargo Securities 6,258.35 24 8.26%