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- Major banks push Euribor and Libor alternative with ECB
A delegation of leading global banks has proposed to the European Central Bank an alternative to the Euro Interbank Offered Rate and the London Interbank Offered Rate, amid a threat of regulation and low interbank lending. The group supports a benchmark that would be based on "secured market" trades. "The unsecured [interbank] market is ... disappearing, so we need an alternative. A secured index makes a lot of sense," said one person involved in the discussions. Reuters
(11/7)     
| Market Trends | | |
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- Focus shifts to struggling economy after Obama win
With his re-election, President Barack Obama will continuing confronting an economy hobbled by uncertainty and slow growth. Markets and the U.S. dollar declined in reaction to the election, as focus shifts to the "fiscal cliff," which could push the economy back into recession. Meanwhile, an expert at Bank of America Merrill Lynch predicted only 1% growth in gross domestic product this quarter. Xinhuanet.com (China)
(11/7), The Wall Street Journal
(11/7)
- Hu expects China to double per-capita income by 2020
Per-capita income throughout China should double by 2020, President Hu Jintao said, speaking as general secretary of the Communist Party at the 18th National Congress. He called for greater reform of the financial system and said the economy should be redirected to give consumption a bigger role in boosting growth. Market News International
(11/7)
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| ELFA Member News | | |
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- Ascentium expands lender group
Ascentium Capital added Bank of America and Credit Suisse to its lender group, diversifying the company's funding sources, CEO Tom Depping said. "Having four significant lending partners in our lender group provides us significant borrowing capacity and will enable us to more efficiently fund our business and attract talent," he said. Read more.
| ELFA News | | |
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ELFA encourages members to contribute to Sandy fundraiser
ELFA has joined with the leadership of a host of financial-services trade associations to encourage donations to the Red Cross to benefit victims of superstorm Sandy. ELFA members may contribute to this important cause by donating online. Members are also invited to attend a fundraiser Nov. 15 in Washington, D.C., to benefit storm victims. Learn more and read ELFA President and CEO Woody Sutton's letter to the membership.
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Get an insider's look
In this economy, you need to stay on top of trends in the marketplace to keep your competitive edge. Mine business intelligence from the 2012 Survey of Equipment Finance Activity, the most important and comprehensive source of statistical information on the equipment-leasing and -finance industry. Get an insider's look at data from 109 equipment-finance companies, by volume size, organization type, market segment and business model. You can't get this information anywhere else.
David Wiener, ELFA member and managing director at The Alta Group, said, "This kind of business intelligence would cost any organization well into the six figures to data mine on their own. There is no data repository within our industry that even comes close."
Special offer: Go to ELFAOnline.org/SEFA to download a free summary or order the full report. ELFA members save 46%!
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Coming in February: 2013 Equipment Management Conference & Exhibition
Don't miss the ELFA 25th Annual Equipment Management Conference & Exhibition, scheduled Feb. 24 to 26 in Tampa, Fla.
Come and enjoy: - Great sessions that bring you up-to-date on asset classes.
- Live inspections of equipment, guided by qualified professionals.
- Off-site equipment tours, enabling attendees to get invaluable insight into equipment and to see it in an actual work setting.
- First-class exhibition of equipment appraisers, remarketers and others you need to meet.
- Unmatched networking opportunities with peers in the industry.
For more information and to register, visit the Events & Training section of the ELFA website.
There is no better place to evaluate market conditions, portfolio quality and residual value for equipment segments than this conference.
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