The Office of the Superintendent of Financial Institutions (OSFI) has released a speech by Julie Dickson to the C.D. Howe Institute titled Considerations along the Path to Financial Regulatory Reform. The most important part was …
Search Results for: conversion
October 20, 2009
Here’s a scary thought from Comrade Peace Prize: Obama administration advisers said U.S. banks bailed out with taxpayer funds have responsibility to support the president’s effort to overhaul the rules for Wall Street and avoid …
Potential for Buy-Backs and Unscheduled Exchanges
Preferred Share buybacks are a perennial topic of interest on PrefBlog and were most recently discussed on the post Split-Share Buy-Backs? WFS.PR.A & FIG.PR.A Examined. Now, Assiduous Reader PL writes in and says: Just wondered …
Dudley of FRBNY Supports Contingent Capital
The British government indicated interest in a debt security that would convert to capital in times of stress, as discussed in the post HM Treasury Responds to Turner Report. Such an instrument is of interest …
October 2, 2009
CIT has launched its restructuring: Under the plan, CIT Group Inc. and CIT Group Funding Company of Delaware LLC (Delaware Funding) are launching exchange offers for certain unsecured notes. If the Company does not achieve …
Australian Convertible Floating Prefs
In a comment on the post about HM Treasury’s musings on mandatorially convertible prefs, Assiduous Reader patc provided an introduction to what seems to be the wonderful world of Australian Hybrids. Further investigation uncovered a …
HM Treasury Responds to Turner Report
The Turner Report on Financial Regulation was reported on PrefBlog in March. The government has now taken some time off from its regularly scheduled banker-bashing to address the issues raised. The response was released on …
XCM.PR.A: Optional Reorganization Plan Announced
Commerce Split Inc. has announced: it plans on holding a special meeting of shareholders in December 2009 to vote on a reorganization plan for the Company. The reorganization proposal will provide both Priority Equity and …
S&P US Preferred Stock Primer
Standard & Poor’s published a Preferred Stock Primer dated 2009-3-25: Preferred stock returns have low correlations with common stock returns, making them good diversifiers. They also have relatively low correlations with bonds, with expected volatility …
DBRS Updates Debt/Equity Weighting for Non-Financial Preferreds
DBRS has announced that it: has today released its updated criteria “Preferred Share and Hybrid Criteria for Corporate Issuers (Excluding Financial Institutions)”. The publication of this updated criteria is part of DBRS’s ongoing efforts to …