Pre-migration untagged articles

The Swiss National Bank has announced a package of measures to increase depositor protection. This week it increased protected deposits from Sfr30,000 to Sfr100,000 and saidbanks would be obliged to hold domestic secured claims of other assets allocated in Switzerland at all times.

Three private equity firms, Blackstone, KKR and 3i, announced a poor set of third quarter results this week.

KfW benefited from a wide euro/dollar basis swap this week, as two year dollar FRNs remained a good source of funding for top rated euro funded borrowers.

Obama and the Big Bear

The tenor of CP deals is increasing, with some triple-A rated names placing deals with maturities of up to six months, a sign that liquidity and sentiment is improving.

Equity investors and junior noteholders of CLOs are at risk of having their cashflows shut off if leveraged loan defaults and downgrades get much worse.

DVB Bank, which specialises in international transport finance, is working on a ship Pfandbrief programme. The bank will also be looking at how the new asset class of Flugzeugpfandbriefe develops.

Three of the most actively traded names in the CDS market in the US in October were unchanged from the previous month, according to data released this week by top credit derivatives broker GFI.

The Finnish parliament is debating a government proposal for state guarantees for unsecured bank debt and the guarantee could be extended to covered bonds, as in Sweden but in contrast to most other countries.

BNP Paribas and Société Générale both recorded a profit for the third quarter, and while both banks’ results fell short of analysts expectations, they stood out as positive in what has otherwise been a gloomy reporting quarter for banks and corporates alike.

Ambac has been saved from the brink by Wisconsin regulators which have allowed it to use the resources of Ambac Assurance Corp to shore up its liquidity gap of $3.2bn after being downgraded by Moody’s.

While others dressed up as Sarah Palin and Joe The Plumber for Halloween last Friday, some in the loan market were a bit more creative.