Standard Chartered has taken on $1.68 billion in assets from one of its structured investment vehicles, reports Reuters. The company took a “vertical” slice from its Whistlejacket SIV in exchange for $140 million worth of capital notes. The notes accounted for about half of the bank’s capital note holdings and it is very likely that the rest of the bank’s capital notes in the SIV will be retired by the end of the year, according to Richard Meddings, group finance director.
Standard Chartered Takes On SIV Assets