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 BNP Paribas 10,542 20 17.55
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 80,818.31 235 11.57%
2 Bank of America Merrill Lynch 66,338.04 186 9.50%
3 Wells Fargo Securities 56,344.19 164 8.07%
4 JPMorgan 53,381.65 156 7.64%
5 Credit Suisse 44,872.46 115 6.43%