Latest articles from Derivatives & Structured Products

Testing times for rescue packages

May 5, 2008

Borrower-friendly loan terms in 2006/07 will allow embattled companies to postpone debt restructuring despite tough conditions in 2008. But they might be wiser to engage creditors early, says Philip Alexander.

Volatility puts counterparty exposure under the spotlight

April 7, 2008

The dramatic market downturn has led to worries about counterparty credit risk. In the over-the-counter credit derivatives market, where bilateral deals are struck directly between trade counterparts, credit risk quality is paramount. Natasha de Terán reports on how the market is coping.

Wave of distress stirs rescue bids

April 7, 2008

Structured investment vehicles were among the most prominent victims of the credit crunch, creating an unprecedented set of challenges for debt restructuring. Philip Alexander looks at how the market is managing the process.

Driver UK deal helps RBS swerve slowdown

April 7, 2008

The credit crisis has brought the ABS market to near standstill. However, RBS has remained active in the field and used its healthy relationship with VW to good effect, reports Edward Russell-Walling.

Roberto Vila

April 7, 2008

Commerzbank’s global head of equity derivatives talks to Natasha de Terán about the bank’s expansion plans away from its European strongholds and the secret behind the company’s low staff turnover.

Argentina plays the rating game

March 4, 2008

Argentina needs to arrest the high inflation that is hindering the development of long-term capital markets. Jason Mitchell reports.

Exotix boldly tackles the Yemeni frontiers

March 4, 2008

So-called ‘frontier markets’ hold no fears for some investors. Edward Russell-Walling reports on how broker-cum-investment bank Exotix went digging for profits in the zinc mines of Yemen.

Will equity derivatives’ fortune go from strength to strength?

February 4, 2008

Equity derivatives’ performance last year was overshadowed by losses in other areas, and activity was not as strong as it could have been, but of all investment banking business areas it was the equity derivatives sector that delivered the best goods. Natasha de Terán investigates whether the sector can rise to the challenge of 2008.

Holding off on IRB implementation

January 2, 2008

Recent turmoil shows the internal risk models of many banks are inadequate, underestimating the degree of risk exposure. The Basel Committee must therefore conduct further study before allowing banks to use the internal ratings based (IRB) approach for calculating regulatory capital, says Harald Benink.

Time for Regulatory soul-searching

January 2, 2008

Regulators should worry about incentives, liquidity and the perverse impact of past regulations, and seriously re-examine their approach in the light of the incoming evidence of culpability for the credit crisis, says Raghuram G Rajan.

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