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KfW’s call for distinctions to be made among types of securitisation in public debate, and for its central importance to the German economy to be recognised, may put pressure on politicians to do more to kickstart the ABS market, but the hurdles are high. EuroWeek asked KfW board member Günther Braünig what needed to be done to achieve his vision of a revitalised SME securitisation sector.
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As the chatter intensifies around how banks’ capital bases should look in the future, so do the voices of those who think that hybrids within it has no future.
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U.S. Treasury Secretary Timothy Geithner is slated to update the House Agricultural Committee and House Financial Services Committee this morning on over-the-counter derivatives regulation. You can watch the hearing from 10am EST here
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The global credit default swap market’s reputation is shot. But it would be foolish to write it off.
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The appointment of two Britons, Adair Turner and Paul Tucker, to chair key taskforces within the Financial Stability Board shows that the UK’s influence in setting the global regulatory agenda may not be as diminished as continental Europe had once thought.
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The CMBS issued by Tesco last week showed that securitisation is back. Sort of. The market is open only for deals that are closer to secured corporate bonds than true securitisations.
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Mortgage agency Korea Housing Finance Corp (KHFC) has hired two banks to arrange a covered bond after scrapping plans to issue residential mortgage-backed securities. -
Investors are turning to the European corporate bond market in droves and there is little on the horizon — neither rising defaults nor worsening economic fundamentals — that might make them turn back. This boom is here to stay.
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Project finance has long been associated with steady cashflows and minimal risk. But, with long-term capital costly, sponsors will have to consider a variety of new funding models.
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Nowhere was the resurgence of risk appetite among bond investors more clearly visible this week than in the subordinated financial institutions market where two issuers priced well received and heavily oversubscribed deals.
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Most Impressive Corporate Funding Team:
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Most Impressive Emerging Market Borrower:
