Nachtrag - The subprime tsunami has come to the beach

verfasst von chiron, 08.08.2007, 21:20

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Subprime `Tsunami' Hits Asset-Backed Commercial Paper Market

Companies are extending payments on commercial paper backed by home loans for the first time as the subprime mortgage crisis spreads to debt perceived to be among the safest in the market, according to Moody's Investors Service.

Asset-backed commercial paper comprises about half, or $1.15 trillion, of the $2.16 trillion in commercial paper outstanding, with extendible notes making up about 15 percent of the asset- backed portion, or about $172.5 billion, according to Moody's.

Luminent Star Funding, sponsored by San Francisco-based Luminent, is a securities program that invested in AAA rated mortgages. Luminent this week extended its commercial paper maturities and canceled its dividend payments after bankers issued margin calls. The company today said two lenders sent default notices.
<ul> ~ http://www.bloomberg.com/apps/news?pid=20601087&sid=a.98mgnTI5s4&refer=home</ul>

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• @dottore - Liquidität im Bondmarkt revisited... - weissgarnix, 08.08.2007, 13:38
  • Re: @dottore - Liquidität im Bondmarkt revisited... - chiron, 08.08.2007, 13:49
    • Re: @dottore - Liquidität im Bondmarkt revisited... - weissgarnix, 08.08.2007, 14:08
      • Re: @dottore - Liquidität im Bondmarkt revisited... - chiron, 08.08.2007, 15:42
        • Re: @dottore - Liquidität im Bondmarkt revisited... - weissgarnix, 08.08.2007, 15:52
          • Re: @dottore - Liquidität im Bondmarkt revisited... - chiron, 08.08.2007, 17:23
            • Nachtrag - The subprime tsunami has come to the beach - chiron, 08.08.2007, 21:20
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