EU watchdog tells top credit raters to review CLO controls
European Union flags fly outside the European Commission in Brussels, Belgium November 8, 2023. REUTERS/Yves Herman/File Photo Acquire Licensing RightsLONDON,...
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US Treasury market debate around hedge fund collateral intensifies
Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking/File Photo Acquire Licensing RightsNEW YORK, Nov 21 (Reuters) - As U.S. regulators ready rules that would push more trading in Treasuries to a central clearing venue, the industry's focus is turning on a key question: how much collateral should hedge funds and others put up to trade there.At issue is whether imposing minimum requirements for collateral, called margin or haircuts, would raise trading costs and curb market...
Analysis: Why a $1.5 trillion source of corporate financing is choking on higher rates
CLO issuance down 41% in H1 vs same time last yearFunding lifeline for junk-rated borrowers shrinkingInvestors demand higher premiumLONDON, July 5 (Reuters) - A financial stream that helped fund the world's riskiest companies and grew into a market estimated at $1.5 trillion in the low interest rate years is drying up, as aggressive rate hikes bring tougher borrowing conditions and uncertainty.The pace of issuance of so-called collateralised loan obligations (CLOs), which bundle loans of the weakest corporates and repackage them as bonds, has stalled.Specialist asset managers minted CLOs worth more...
From Apollo to DZ Bank, funds snap up bargains in UK pension scramble
Pension funds still need to raise cashCredit funds pick up bargains from pension fund salesSome credit funds already sitting on...
