Bank loans achieved an ultimate recovery rate (value of instruments received at emergence) of only 72% in 2002, the lowest recorded level in Standard & Poor’s LossStats database, which tracks ultimate recovery values back to 1988. Ultimate recovery rates for loans were 73.6% in 2001 and averaged 81.6% for the entire 1988-2002 period, according to Standard & Poor’s. ‘That the recent bank debt recovery results cited above are only 8%-10% below the 15-year mean is a result of banks continuing to structure debt better by getting higher quality collateral, having more debt contractually subordinated to their position, adjusting covenants, and reducing commitment levels earlier in the process,’ said Roger Bos, an Associate with Risk Solutions, Standard & Poor’s risk management unit that administers and analyzes the database. The ultimate recovery rate for senior unsecured bonds was 28% for 2002 after a record low of 22.1% in 2001, both well below the 1988-2002 average of 46%.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more