Countrywide bankruptcy talk overstated but problems remain [UPDATE]
Speculation that troubled US mortgage lender Countrywide (CFC) may be approaching bankruptcy may be overstated, analysts say, with the firm likely to either ride out its short-term funding crisis or be bought out before reaching insolvency.Troubled NIBC gets boost from Kaupthing takeover
The fate of another financial institution hit hard by sub-prime mortgage woes, Dutch investment bank NIBC (A-/A3), looks to have been secured following its takeover by Iceland’s Kaupthing Bank (Aa3/A).KfW completes first deal in Thai baht market
Continuing its reputation for innovation in the international capital markets, on July 27 KfW Bankengruppe (KfW) became the first non-Asian international issuer to complete a Thai baht bond in the local capital market in Thailand.Relative value the silver lining in credit correction
Market participants agree that increased relative value opportunities are a likely beneficial result of last week's credit correction, centred on US financial institutions' exposure to sub-prime debt and LBO finance.
Retail lending continues to hit US FIs
Generally strong results announcements from a series of US banks have been universally impacted by increased provisions for retail bad debt, including ongoing concern regarding the sub-prime mortgage sector.