News analysis

  • Collateralised loan obligations will save structured finance

    30 Apr 2008

    The market has vanished for asset-backed collateralised debt obligations. But structured finance is not bust. Collateralised loan obligations and CDO-esque products will return to tempt investors

  • Creditors drive Siv restructurings

    23 Apr 2008

    The diverse creditor bases of structured investment vehicles are driving the restructuring of Sivs that don't have bank sponsorship

  • Sukuk criticism will open doors

    23 Apr 2008

    Scrutiny of shariah-compliant products will force new innovation and sophistication, according to a panel at IFLR's Capital Markets Forum on Tuesday

  • The best quotes from an action packed forum

    23 Apr 2008

    "The universal bank is the winner here, and the universal bank regulator – the FSA, not the SEC." Even though Citi has taken such large hits from underwriting CDOs

  • UK covered bond legislation needs amendment

    23 Apr 2008

    Despite becoming law just last month, bankers and lawyers are already demanding changes to the UK's covered bond legislation

  • Debt prospectuses are being misused

    22 Apr 2008

    Some European debt documents are not valid. Issuers are using final terms provisions to issue securities that are entirely different from those described in the base prospectus

  • European Spacs don't need formal regulation

    22 Apr 2008

    Special Purpose Acquisition Companies are so transparent that market forces will be enough to regulate them

  • FSA: Two ways to solve listing confusion

    22 Apr 2008

    The UK's FSA has given a sneak peek of the conclusions of its consultation paper on the listing regime, and it admits there is confusion over the options in London

  • Market abuse was easier to detect pre-Mifid

    22 Apr 2008

    Mifid has made it harder to discover market abuse in Europe, due to segmentation of trading information

  • Private placements undermine listing competition

    22 Apr 2008

    The popularity of private placements in Europe and the US is rendering the debate on location of listing redundant

  • Reg S is eroding disclosure standards

    22 Apr 2008

    Issuing securities under Regulation S, which exempts products from registering with the SEC when selling them outside America, has become more popular as the US markets have declined. So much so that people may not have noticed the general standard of disclosure dropping

  • Sivs have gone for good

    22 Apr 2008

    Structured investment vehicles won't be back. The asset-backed commercial paper market has proved an unreliable source of liquidity and banks won't step in

  • Standard documents will end accounting acrimony

    22 Apr 2008

    In what could forge a truce between bankers and accountants, the European High Yield Association is planning to standardise engagement letters

  • Sub-prime litigation hits Hong Kong

    18 Apr 2008

    Hong Kong has seen its first bout of litigation caused by the sub-prime lending debacle. But the case also raises more questions about misselling and investor education in Hong Kong

  • Basel Committee: We got it wrong

    17 Apr 2008

    Basel II is inadequate. It miscalculated the amount of capital that institutions need to cover the risk of complex products, the Basel Committee admitted yesterday

  • Freddie Mac for the UK

    17 Apr 2008

    In a move that could start government-sponsored securitisation, the Bank of England is planning to allow banks to swap mortgages for treasury bonds

  • List in the US and get Europe free

    17 Apr 2008

    As the SEC looks into mutual recognition to make it easier for foreign companies to list in the US, NYSE Euronext has implemented reforms to help list in both the US and Europe with one set of documents

  • Hong Kong needs a secondary exchange

    16 Apr 2008

    A pro-government think tank has called for Hong Kong to establish its own secondary stock exchange, similar to London's Aim market

  • No more standards: structured finance is fine

    14 Apr 2008

    In a potentially pointless move, the Institute of International Finance has proposed a template for structured finance offering documents

  • Marking to market must change

    09 Apr 2008

    Fair value accounting creates "massive volatility", lawyers say, and creates an inaccurate picture of banks' exposure

  • EC's Basel II proposals are too vague

    08 Apr 2008

    Last week's comments by Charlie McCreevy on a European Commission response to financial turmoil have been met with indifference

  • UK and US plan joint regulator

    02 Apr 2008

    In a move that may be the start of a more synchronised approach to regulation, Britain and America are creating a transatlantic working group to reform the banking system

  • US Treasury plan doesn't go far enough

    02 Apr 2008

    The US Treasury's blueprint for regulatory reform was released earlier in the week, and the legal community, while agreeing with many of the proposals, calls for more to be done

  • Clearing dead wood

    01 Apr 2008

    SEC rule proposals not without controversy

  • From good to gold

    01 Apr 2008

    The new regime will be even more popular than previous, structured deals

  • Flexibility, and new products

    01 Apr 2008

    Scepticism of mortages and their securitisation should be overturned by new Spanish law

  • Push the door, it's unlocked

    01 Apr 2008

    Downstream foreign investment is possible in China, but not everyone realises it yet

  • Mutual recognition could lead to global harmonisation

    01 Apr 2008

    The SEC unveiled its plans last week for the next measure towards mutual recognition, which many are predicting will open the door to worldwide regulatory harmonisation