Credit Default Forecast Rises in Latest IACPM Credit Outlook Survey While Credit Spread Outlook Falls to Virtually Neutral New York, NY – Respondents in the latest IACPM Credit Outlook Survey see the risk of credit defaults rising almost across the board. The outlook worsened for corporate debt, corporate real estate and retail and consumer mortgage, …
2012
IACPM Submits Comment Letter to Basel Committee
On October 16, 2012 the IACPM submitted a comment letter to the Basel Committee on Banking Supervision on publication BCBS227 “Capital Requirements for Bank Exposures to Central Counterparties” to clarify the risk weighting of IRB banking book loan exposures hedged with cleared CDS from a qualifying central counterparty. The goal is to ensure the correct understanding how …
IACPM Submits Second Follow-Up Letter to SEC on Proposed Rule 127B
IACPM submits a second follow-up letter to the SEC, following a call on August 14 with SEC staff where the Supplemental Letter, dated June 28, 2012, and Comment Letter, dated February 6, 2012, both addressing SEC’s proposed rule 127B, had been discussed. Second Follow-Up Letter to the SEC regarding proposed rule 127B, dated September 7, 2012. All …
IACPM Credit Outlook Survey Lower Globally
Short-term Outlook Sharply Lower; Longer term Outlook Also Down But Flatter New York, NY – Respondents to the IACPM Credit Outlook Survey turned sharply negative in the latest quarterly reading with the outlook for both credit spreads and credit defaults uniformly lower around the globe. In the US, the three month outlook for credit spreads …
IACPM Submits Follow-Up Letter and Research Results to SEC on Proposed Rule 127B
The IACPM sent a follow-up to the Comment Letter to the SEC in response to SEC’s proposed rule 127B, dated February 6, 2012. This second letter is a reply to observations made and questions posed during a meeting of SEC staff with members of the International Association of Credit Portfolio Managers (IACPM), Citigroup, Deutsche Bank and Sullivan & Cromwell on April 25, 2012 (memorandum). The letter …
IACPM Credit Outlook Survey Reflects Global Uncertainty
European Credit Defaults Seen Rising But Global Credit Spreads Forecast to Remain at Current Levels New York, NY –The latest quarterly IACPM Credit Outlook Survey reflects the global uncertainty facing the world’s financial markets and economies. Survey respondents are mildly positive regarding the outlook for credit spreads in North America while they remain slightly negative …
IACPM Submits Comment Letter to SEC on Proposed Rule 127B
The IACPM submitted a comment letter to the SEC in response to SEC’s proposed rule 127B. The IACPM argues that synthetic bank balance sheet CDOs should not be prohibited under this rule, which addresses conflicts of interest in certain securitizations. The comment letter can be accessed here. All comments to the SEC are publicly available on the SEC website.
IACPM Announces 2012 Board of Directors
HSBC’s Derek Saunders Elected Chair; KeyCorp’s Jeffery Weaver Vice Chair New York, NY – The International Association of Credit Portfolio Managers is announcing today Derek Saunders, Global Head of Portfolio Management at HSBC, will serve as Chair of the Association, while Jeffery Weaver, Executive Vice President & Group Head, Credit Portfolio Management at KeyCorp, will serve …
Latest IACPM Credit Outlook Survey Reflects Bifurcating View
Forecast For North America Improving – Europe Remains Negative New York, NY – The outlook for credit spreads and defaults is the widest ever seen between North America and Europe in the latest quarterly Credit Outlook Survey conducted at the beginning of this month by the International Association of Credit Portfolio Managers. The credit spread …