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Can The Netherlands retain its position in the SPV market?

The revision of the exemption regulation that has caused problems for borrowers (see main feature) has also affected securititizations, putting billions of dollars of transactions temporarily at risk.

February 01 2003

Dutch lawyers call for U-turn on new banking rules

Life for foreigners issuing securities in The Netherlands has been made more difficult by a recent amendment to the law. Michael Evans reports on what lawyers are doing to change this

February 01 2003

Cob to investigate derivative-based capital-raising structures

France's stock market regulator, the Commission des Opérations de Bourse (Cob) is to make an in-depth analysis of deals structured using derivatives to raise capital.

February 01 2003

Clifford Chance Italian defections continue

Clifford Chance securitization partner Luigi Chessa is leaving the firm's Rome office after six months as joint-managing partner for Italy.

February 01 2003

What Basel II means for specialized lending

The latest draft of the Basel Capital Accord proposes to treat project finance, asset finance and commodities finance differently from conventional lending. Nicholas Budd of Denton Wilde Sapte explains how

February 01 2003

Hong Kong

The Securities and Futures Commission (SFC) is looking forward to a new era in Hong Kong's financial markets with the long-awaited Securities and Futures Ordinance (SFO) due to come into effect on April 1 2003.

February 01 2003

Wall Street deals leave the future of research unclear

Who will pay for independent research if not the investment banking arms of Wall Street firms? Steven Lofchie of Davis Polk & Wardwell, New York, looks at the latest US moves to curb analyst conflicts

February 01 2003

Korean bond overcomes privatization risk

The first global bond offering from one of Korea Electric Power Corporation's (Kepco's) generation subsidiaries has set a useful precedent for the market, showing how to avoid triggering a default on bonds should the issuer be privatized in future.

February 01 2003

City firms square up for UK supermarket scramble

London's merger and acquisition lawyers have begun the new year rushed off their feet after no less than six UK supermarkets prepared to bid for the country's fourth largest food retailer Safeway.

February 01 2003

Bond Market Association releases draft netting agreement

The Bond Market Association (TBMA) last month released a proposal draft of a new version of its Cross-Product Master Agreement (CPMA). The Agreement is an industry standard intended to harmonize agreements among agents conducting transactions in the swaps, repo, securities lending and currency markets. The revised draft takes the first version of the CPMA and expands its scope with the aim of reducing risk and instability in those markets.

February 01 2003

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