search query: @author Nisse, J. / total: 22
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| Author: | Nisse, J. |
| Title: | Let's play forfaits. |
| Journal: | Banker
1987 : NOV, VOL. 137:741, p. 45-46 |
| Index terms: | FORFAITING INTERNATIONAL BANKS RISK |
| Language: | eng |
| Abstract: | The Hungarian International Bank and Midland Bank Aval were the great developers of the London secondary forfeits market in the mid 1970's. They traded Comecon forfeits, either originated by themselves or by West German or Italian banks. At that time forfeit markets yielded extra profits, because the spread over Libor was high and the Libor itself was high and starting to fall. The trouble started around 1981, when a lot of players entered the London secondary market. When the interest rates' fall stopped, the values of a forfeit paper did not rise, forfeits became unprofitable. New fields should be looked for. |
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