Unlocking the Potential of Loans

Low interest rates and a lackluster risk-return profile in equities provide incentives to seek value in alternative investments. Historic low yields on traditional fixed-income products are driving institutional investors to the loan market in search of better risk-adjusted returns. There are a few ways in which they could potentially gain exposure to loans, but to execute a successful strategy, they must be aware of the nuances of the asset class across multiple jurisdictions.

Authors:   Jocelyn Lynch, Magnus Wilson-Webb, Robert Wagstaff, David Bell
Business:   Corporate Trust
Publication date:   March 2013

Financial Bills: A New Form of Long-term Investment (Portuguese)

Reprinted with the permission of Inova Seminarios

Learn how financial bills were introduced in Brazil, what this security has promoted on the national stage and what some of its primary challenges are starting in 2012.

Author:   Soraya Lysenko
Business:   Corporate Trust
Publication date:   February 2012

Financial Bills: A New Form of Long-term Investment (U.S. English)

Reprinted with the permission of Inova Seminarios

Learn how financial bills were introduced in Brazil, what this security has promoted on the national stage and what some of its primary challenges are starting in 2012.

Author:   Soraya Lysenko
Business:   Corporate Trust
Publication date:   February 2012

Just Who is Your Debt Restructuring Information Agent?

The trend in recent years has been for small information agents to assume a much larger role in debt restructuring. Buyers of their services, in the same way as they assess counterparty risk, should apply an equally rigorous scrutiny of their strength and transparency. BNY Mellon explores this trend and assesses the risks that are sometimes involved.

Authors:   Sonia Chaliha, Erin Courcey
Business:   Corporate Trust
Publication date:   November 2011

Refinancing Challenges and the Role of Collateral

Among the changes in the debt capital markets are a growth in longer-term funding, instruments that can hedge against major macro-economic risks and increased use of collateral. Regulatory change, coupled with massive refinancing needs over the next couple of years, is altering the way that banks work, stimulating new financial structures and products. BNY Mellon explores the key aspects driving trends and the emerging new order.

Author:   Rossana Abueva
Business:   Corporate Trust
Publication date:   October 2011

South Korean Covered Bonds

Until now, few Asia-Pacific governments have encouraged covered bond issuance in the region. This could start to change now that South Korea is planning to develop further its capital markets. As volatility and uncertainty continue in global capital markets, the benefits of covered bonds - whether as enhanced security to the investor or lower interest rates to the issuer - are well-known.

Author:   John-Paul Marotta
Business:   Corporate Trust
Publication date:   October 2011

Sukuk Investor Relations - We Cannot Wait Any Longer

Debt capital markets, including the Sukuk market, have lagged behind other financial markets in developing proper IR programmes, but today's information demands mean we cannot wait any longer. A new information model is needed, which must provide investors with a deeper understanding and allow them to manage risk more effectively.

Author:   Giambattista Atzeni
Business:   Corporate Trust
Publication date:   October 2011

Build America Bonds: Post-Issuance Compliance

The popular Build America Bond program was created in 2009 with the passage of the American Recovery and Reinvestment Act. In addition to the normal IRS compliance requirements relating to a taxable bond, a host of new disclosure and reporting requirements also were created for issuers and market participants involved in the program.

Author:   Jose Matamoros
Business:   Corporate Trust
Publication date:   February 2011

Panorama (3rd/4th Quarter 2010)

Always essential to the dynamic of success in any market or organization, innovation is a top-priority agenda item in today's debt capital markets. In this edition of Panorama, Corporate Trust business leaders explore the nature of the innovations needed -- and offer suggestions for the direction those innovations should take.

Authors:   Scott Posner, James Maitland, Rossana Abueva, Sonia Chaliha, Jerome Dwight, Gary Lew, Dominick Falco, Debra Baker, Richard Stanley, Antonio Nunes, Alex Tsarnas, Robert Griffin, Troy Kilpatrick
Business:   Corporate Trust
Publication date:   October 2010

Panorama (Winter 2009-2010)

With new debt issuance showing tentative signs of renewal in the first quarter of 2010, this winter edition of Panorama explores a question that seems particularly relevant to participants in the debt capital markets: What do investors want?

Authors:   Scott Posner, Michael Whelan, Jean Wynn, Mark Brown, John-Paul Marotta, Andrew Zelter
Business:   Corporate Trust
Publication date:   March 2010