Hints and tips:
...The Basel II accord was calibrated precisely to keep the total requirement in the system unchanged....
...Russian debt: Moscow’s failure to pay interest on a bond will trigger an estimated $2.5bn of payouts for holders of credit default swaps, insurance-like contracts used to protect against defaults....
...According to sellers we spoke to, knowledge of the commingling vulnerability has become so widespread that the default these days is for sellers to opt out....
...We emphasise we think that RYA, EZJ and also IAG (each OP-rated) are best positioned to weather this storm, we rate Lufthansa OP (we recognize current challenges but see strong recovery potential in time...
...Bond default risk: M&B has only received a temporary waiver until 15 May on its cessation covenant....
...) and Credit Default Swaps (CDS)....
...Many of those MBS having been issued by Bank of America, that is. Oh, and the Fed has released the bank from liability with respect to the Maiden Lane II securities, writes the NYTimes....
...(Financial Times) Greece Syriza party leader Alexis Tsipras has an op-ed in the Financial Times....
...The Florida loan was contained in a portfolio known as Maiden Lane II, created by the New York Fed when it was forced to rescue AIG two months later....
...Bloomberg reports that falls in the credit default swap (CDS) indices used to protect against losses certain types of debt has been accelerating this month....
...The last couple of months have brought the Fed’s Operation Twist and the Obama administration’s Harp II, and the Fed has signaled the possibility of further MBS purchases via the outright expansion of its...
...The implication is that the mere possibility of such proposals will have a nerve-wracking effect on the MBS market (already nervous what with increased prepayments, QE II, etc.)....
...Frederick II would be turning in his grave – FT Alphaville...
...Single-family housing starts had fallen to a post-World War II low in January, and demand for new homes remained weak....
...What with Fannie and Freddie unfit for purpose, foreign capital draining from the market, and ratings regarded as more or less worthless, there are plenty of indicators that would have you believe the MBS...
...Several CDOs are going into liquidation on Tuesday – a sign, perhaps, that senior noteholders are losing their nerve amid more signs of deterioration in MBS fundamentals, as reported by the rating agencies...
...And while the population has become more aware of food waste, this remains the default position for the industry today....
...MBS and CDO ratings require assumptions based on actual experience....
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