Moody’s has issued a press release: According to Moody’s, and as outlined in the Special Report referenced above, lifetime cumulative losses on 2006 vintage subprime first-lien pools are now projected to average 22%, considering pool …
Search Results for: performance
September 17, 2008
The market shows infinite capacity to surprise! We are told that today’s horror was due to credit concerns, which seems like a reasonable conclusion to draw. Most data seem consistent with this hypothesis. So why …
NTL.PR.F / NTL.PR.G : DBRS changes trend to "Stable"
DBRS has announced: has today changed the trend for the B (low) Issuer Rating and Pfd-5 (low) preferred share ratings of Nortel Networks Limited, Nortel Networks Corporation, and Nortel Networks Capital Corporation (collectively, Nortel or …
What Happened to the Quants in August 2007?
I referred to the paper on September 15 and republished the abstract in that post. The paper is by Amir E. Khandani, a graduate student at MIT, and Andrew W. Low, a Professor at the …
September 16, 2008
Covered bonds were mentioned in a speech Trichet delivered in Nice: Another aspect I would underline in this context relates to the issuance of covered bonds. Indeed, the performance of covered bonds proved up to …
September 15, 2008
You guys all think I’m going to talk about the Lehman bankruptcy, the scramble for funding by AIG and, given the devil-take-hindmost nature of short attacks on Large Complex Financial Institutions recently, Merrill’s determination not …
September 11, 2008
A Bloomberg story pointed me towards remarks by Mervyn King of the BoE regarding long- and short-term bank funding: we will also set out arrangements to ensure the banking system as a whole will continue …
September 10, 2008
The question of whether the functions of Central Bank and Bank Regulator should be combined or not has been often discussed on PrefBlog. Elsewhere, too, like Frankfurt, with remarks by Ms. Gertrude Tumpel-Gugerell of the …
DiversiCapital Pulls Split-Share Offering
DBRS has announced it: has today discontinued its provisional rating on the Preferred Shares offered by DiversiCAPITAL Global Dividend Split Corp. (the Company) because the minimum offering of shares of the Company was not achieved. …
September 4, 2008
I posted a little while ago about Central Banks and the Eligibility Premium … today there was a dramatic illustration (maybe!) about the suddenly enormous importance of access to central bank lending facilities in a …