Towards a Common Carbon Currency: Exploring the Prospects for Integrated Global Carbon Markets (Abstract)

The global carbon market has grown rapidly in recent years, after a record $63 billion in trading volume in 2007, the first half of 2008 reached $59 billion. We estimate hat a linked global cap and trade market could reach $3 trillion by 2020. This paper analyzes the challenges for market mechanisms to evolve in support of more robust transaction models that lower risk and operational complexity as well as enable greater efficiency. The issues are compounded by numerous standards and unlinked registries in the voluntary market.

Business:   Corporate Trust
Publication date:   December 2008

Structured Credit Market Study: A Trustee's Role in Restoring Investor Confidence

Find out what nearly 100 asset managers, law firms and other market participants think about the key issues in the structured credit market.

Business:   Corporate Trust
Publication date:   March 2010

Panorama (Summer 2009)

Get a glimpse of the post-crisis debt capital markets and the evolving world of global corporate trust.

Authors:   Scott Posner, James Maitland, Elizabeth DaSilva, Gary Lew, Patrick Tadie, Troy Kilpatrick, Robert Griffin, William Dombek, Andrew Zelter
Business:   Corporate Trust
Publication date:   August 2009

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

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

Global Registry and Custody Service of Voluntary Carbon Units

While the Kyoto Protocol is moving toward regulation for the signatory countries, a voluntary carbon emissions offset market has developed to meet current needs. BNY Mellon created the Global VCU Registry and Custody unit to provide participants in the voluntary market with a tool that will contribute to development of a fungible market in Voluntary Carbon Units (VCUs).

Authors:   Anthony Nunes, Daniel Parente
Business:   Corporate Trust
Publication date:   October 2008

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

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

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

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