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The FSA is determined to clamp down on how mortgage lenders and intermediaries do business. Its latest proposals are sensible, and stand a good chance of reducing reckless lending and providing a foundation for mortgage investors to demand more transparency.
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Extension risk has until now been the main concern for investors in Dutch securitisations. The collapse of retail bank DSB on Monday threw several more risks into the limelight and promises to set important precedents for market practice.
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While the UAE has been slow in implementing a government guarantee scheme and its biggest banks have been able to tap the markets without it, such as scheme is worth the effort even though few if any will use it.
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While the UAE has been slow in implementing a government guarantee scheme and its biggest banks have been able to tap the markets without it, such a scheme is worth the effort even though few if any will use it.
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There are few in the capital markets who haven’t been tempted to put the boot into the rating agencies over the last two years. But a draft US law that includes a proposal to make the raters financially liable for the actions of their competitors is just plain daft.
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Oak Hill Advisors has hired a former founding member of Goldman Sachs’ European special situations group to co-head its own business in the region.
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Lloyds Banking Group is marketing the first public European RMBS since the collapse of Lehman Brothers. Does this mean things are hunky dory again in the securitisation market? Far from it.
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Calyon has always been the marzipan square in the great chocolate box of international capital markets — colourless, unfancied and really there only to make up the numbers.
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The Basel Committee on Banking Supervision is, after months of talk, finally getting tough on hybrid capital. Panglossian banks that ignored repeated warnings about the future eligibility of the product may regret their enthusiasm.
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If bankers think that the furore over bonuses has receded with the passage of time, they should think again. Politicians are mounting a renewed, and in some cases, co-ordinated attack as banks return to profitability and bad habits.