Saturday, November 08, 2008
Building a bond market
Sanjay Nayar has an excellent article in Business Standard on the task ahead in creating a bond market.
3 comments:
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Great piece. Thanks for posting that
ReplyDeleteAjay,
ReplyDeleteJust wanted to ask you about the interest in covered bonds in India. In Europe Banks originate mortgages by issuing covered bonds to Investors. It is a $3 trillion market in Europe.
In the U.S. the Fed is keen to replace Mortgage Backed seucrities with covered bonds. Here is the speech by Bernanke at the mortage securitization conference. This means that Banks will retain the credit risk of the mortgageloans on their balance sheet unlike the current "originate to distribute" model where banks securitize the mortages and have no incentive to focus on credit risk.
http://www.federalreserve.gov/newsevents/speech/bernanke20081031a.htm
this is really a great achievement.it will help a lot...
ReplyDeleteit help to get the investor back in the firm .thanks for such info.