Securitisation markets evolve to adapt to crisis

10/13/2009 | Financial Times (tiered subscription model)

Securitisation markets have started to thaw, but many industry participants agree that some of the more complex instruments, such as collateralised debt obligations squareds, might never return. Asset-backed securities from Lloyds Banking Group and Volkswagen were heralded as helping to reopen the markets, but they were also considered to be "plain vanilla" deals. "We've gone from a time where everyone bought ABS and fought for every extra basis point through a knee-jerk period where you couldn't sell these deals at all. Now the debate about the future is becoming more reasoned and forward-looking," said Gareth Davies, JPMorgan Chase's head of European ABS research.

View Full Article in:

Financial Times (tiered subscription model)

Published in Brief: