Latest articles from The Banker's editors

As easy as ABCP

January 2, 2002

The asset-backed commercial paper (ABCP) market, which started modestly as a way for banks to move assets off their balance sheet, using special purpose vehicles known as conduits, is today among the most innovative and complex financial sectors, often supporting entirely synthetic transactions.But its very success is arousing concern among some close observers. The market's role in shifting risk, often to exploit anomalies in the regulatory treatment of the banks' capital, looks distinctly uncertain when the rules change in three years time under current proposals.

Who will merge next?

June 2, 2001

It is not a matter of how, but of when. A major cross-border bank merger in Europe involving core countries is imminent. Investment banks are busy advising their clients on possible deals, bank chief executives are flying back and forth having talks with their counterparts and lawyers are looking at the legal implications.

Still on the journey of transition

May 2, 2000

Post-communist European countries have made strides in moving to a market-based economy, despite setbacks, but the transition remains patchy across the region.

US Banks: Bumper Year But …

March 2, 2000

Last year was a bumper one for the US banks. From the local and regional retail outfits to the international money centre groups, to the specialised investment banking and fee-earning businesses, circumstances conspired in their favour.

Better late than never

December 1, 1999

If Spain has waited 140 years to launch its first jumbo mortgage-backed bond it is not the fault of any mañana system. The cédula hipotecaria (CH) was introduced in the market in 1861 but, until this year, it remained an instrument exclusively for retail investors.

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