Pre-migration untagged articles
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The Federal Reserve Bank of New York yesterday (Thursday) welcomed the latest commitments made by the 18 banks it is liaising with to further increase efficiency and diminish risk in the derivatives market.
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Merrill Lynch was forced to launch the largest secondary share offering in history this week after it revealed it would write down $5.7bn as part of its attempts to reduce its CDO exposure.
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Chelsea Building Society is the latest UK financial institution planning to turn to covered bonds for financing.
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Canada Mortgage and Housing Corp has announced plans to expand its Canada Mortgage Bonds programme by adding a 10 year maturity.
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Deal flow in the structured note and private placement markets slowed this week, as even the Asian demand that had been propping it up began to weaken.
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Credit experts in London and New York were bewildered by the credit default swap rally that followed Merrill Lynch’s sale of a portfolio of mortgage backed CDOs with a notional principal of $30.6bn for a mere 22 cents on the dollar on Monday.
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DEUTSCHE Bank revealed a 64% fall in its second quarter profit this week, as higher than expected writedowns pushed its investment banking unit to a second straight loss.
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Merrill Lynch’s decision to ship $30bn of CDOs at 22 cents on the dollar to Lone Star induced some spread tightening in the credit market this week and swap spreads followed.
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Some dealers reported brisker activity in the European commercial paper market yesterday (Thursday), after the first half of the week had started slowly.
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A Sfr400m five year deal for General Electric Capital Corp took centre stage in the Swiss franc bond market this week, even before its official bookbuilding began on Wednesday.