Derivatives
CPDOs: A volatility game
A triple-A rated structure that pays Libor plus 200bp. Who wouldn't be interested in such a product? Perhaps the sceptics warning against the 15 times leverage and the instrument's high exposure to volatility. Laurence Neville reports
FASB suggests more in-depth derivatives reporting
The US Financial Accounting Standards Board (FASB) has issued a proposal for more rigorous reporting of derivatives in financial statements.
Is da documentation working?
CDS on CDOs
The great CDS debate which corner are you in?
Credit default swaps have become the instrument of choice for scores of credit investors - both for risk management and as another way to get exposure to credit. Yet there still remains a hardcore of sophisticated clients who continue to avoid CDS out of…
Taiwan's CDO explosion
Since its launch in 2005, Taiwan's CDO market has been surprisingly buoyant. But with investors reaching saturation point, is the market nearing its natural limits? Hardeep Dhillon investigates
Building a market for credit options
Calls to improve efficiency in credit options trading are intensifying as the market continues to mature. Hardeep Dhillon looks at a recent initiative by Icap which brought together market participants to discuss dealers' proposals
Loan derivatives: laying down the law
Leveraged loans
Back to Basics
We take you back to the credit basics to review everything you thought you already knew but were too afraid to ask... Sophia Kandylaki, vice-president, and Penny Davenport, director of Markit Group, explain the mechanics of reference data for CDS…
CDO equity returns
Talking point
Raman Kalra
The director of Fitch Ratings' credit products group in New York tackles some of the hot issues surrounding private equity structured finance
Credit options: Arrested development
Credit Options
The evolution of Asian CDOs
Structured credit
Pushing the boundaries
The introduction of IAS 39 this year has caused some corporate treasurers to rethink their use of derivatives. Banks are looking to structure derivatives solutions that achieve the economic objective of a hedge, while avoiding undue volatility on the…
Leverage lift-off for new CDOs
Structured credit
Derivatives both a help and a danger, says BoE deputy governor
Derivatives are both a help and a danger to global financial stability, according to the deputy governor of the Bank of England, Andrew Large.
The derivatives burden
Exchanges
How to run a market
Former-derivatives-trader-turned-author Frank Partnoy wants to see tougher accounting standards and risk disclosures to deter corporate crooks. But are the regulators listening? Maria Kielmas reports
Derivatives disclosure calls mount
Warren Buffett's stinging critique of the derivatives business in March represents the latest call for more derivatives disclosure. But despite some notable moves in this direction, most financial institutions remain stubbornly opaque.
Deutsche Bank credit team gets a Spanish lesson
Use of credit derivatives in structured products under scrutiny after BZ Gestion fund suffers losses
Legal risk optimisation
Allen & Overy's Carolyn Jackson discusses the importance of a quantitative approach to legal risk.