In The News
Media Coverage
The following is a collection of press mentions and contributed
published works in the trade press by Principia.
| Jun-08 | CDPCs Flourish in Hard Times "Systems must handle the operating manual designed with rating agencies - what they do and how - integrating in compliance, and rating agency and internal management reporting needs." |
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| Jun-08 | Credit: Where It's Due "The key thing that people are going through now is differentiating between those structures that have been hurt versus those that have the stability to continue through the rough market." |
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| Jun-08 | Storm Clouds Clear Above Europe "The aim is not just to remove the operational risk of manual operations in the trade lifecycle, but also to ensure that human element is enforceable and that senior management can check on the status of the structured finance portfolio. " |
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| Jun-08 | Inside Guide: Credit Derivative Product Companies " Effective capture and storage of data in such a way that it can be used to ensure compliance with trading limits and operational guidelines is at the heart of a CDPCs operational requirement." |
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| May-08 | Life After Leverage "You have to have the systems, staff and knowledge to manage these products if you buy them directly. " |
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| May-08 | Legal Spotlight "..service providers like Principia Partners have begun to offer products to these investors to enable them to more closely monitor cashflows, valuations and amortisation events." |
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| May-08 | CDPCs bring some liquidity to the market " Consequently, some CDPCs are providing high levels of transparency in portfolio reporting in order to re-enforce their counterparty credit worthiness and their triple-A credit rating." |
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| May-08 | Back to Basics: Asset Portfolio Management
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| Apr-08 | Getting off track “ For banks that have more assets on balance sheet, there will be an increased push to securitise products through a single, consistent portfolio, which will make it easier for them to look at and manage overall exposures in a consolidated way. ” |
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| Mar-08 | Shortage of supply in the structured finance business? |
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| Mar-08 | “... sponsors that need help managing risks attached to assets from troubled vehicles they took onto their balance sheets. ” |  |
| Mar-08 | ABCP Begins to Thaw |
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| Feb-08 | A Transparent Approach To Structured
Finance “ ... moving the market towards increased risk management and surveillance of structured finance portfolios, whether on or off balance sheet.” |
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| Feb-08 | Pushing for Transparency: The Key
to Luring Investors and Abating the Crisis “So for an investor, it is really about integrating the multiple data sources into a single way of managing their portfolio.” |
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| Feb-08 | Back
to Basics " That might involved a move from a market value structure into a cash flow structure." |
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| Jan-08 | Transparency In Sight "... will push more players to make a firmer commitment to improving systems, compliance, standardisation and increasing the level of detail provided to the investor base." |
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| Dec-07 | CDO Boom and Bust "... there will have to be an increased level of transparency and surveillance coming from dealers and data providers as well as increasingly sophisticated portfolio management software products for investors." |
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| Dec-07 | Moody's Warns Over Ratings of Some SIVs |  |
| Nov-07 | Talking Point: End of the Acronym? We are certainly working through an extraordinary period, influenced by the current liquidity crisis |
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| Nov-07 | Hard Choices Long notes that a possible restructuring scenario could see a third party coming to repay the debt to the commercial paper investors |
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| Nov-07 | Rescue Plan Faces New Pressure | |
| Oct-07 | Double-edged sword " The current market environment has underscored why the CDPC business model works" |
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| Oct-07 | Navigating ABCP "[in SIVs] ... there will, without doubt, be structural and rating methodology changes." |
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| Aug-07 | Off Balance Sheet Woes Raise Wider
Concerns "SIVs are differentiated from conduits and other structured products because by design they are never forced into rapid sales of assets and always have options. If they need to deleverage, they can do so in a slow, controlled and orderly manner." |
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| Jul-07 | Smooth Operator " ..Principia SFP package as a “complete end-to-end processing” solution. It offers portfolio management – modelling assets, liabilities and hedging derivatives on a single platform; cashflow and exposure analysis, with a suite of liquidity and sensitivity analysis; and an operations and administration platform, including rating agency reporting.” |
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| Jun-07 | Move over CDOs.. SIVs are coming of age “... the SIV is a combination of all the structured finance vehicles that have come before it.” |
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| May-07 | Force of Nature (SIVs) "Rating agencies are building on their expertise and making the market more transparent, software is becoming more widely understood and effective, and there is increased acceptance of these structured among the investor base." |
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| Apr-07 | Principia Rolls Reporting, Accounting
Software for SIVs, SACs "...this software helps the SIV model become more standardized from a rating agency perspective, and will allow them to reach the market quicker. "It's still an expensive process, and there are hurdles, but the quicker you can ramp up, the better-it's a real time-to-market thing." |
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| Apr-07 | More SIVs to come |
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| Apr-07 | SIV Market Remains In Good Health As New
Vehicle Launches "When you look at the early SIV world, it was driven by bank-sponsored SIVs." "Nowadays, investment managers and asset managers are involved too." "... the investment managers and asset managers see SIVs as an alternative vehicle that they can work with, and in some instances, they are CDO managers who are looking for diversification." |
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| Mar-07 | CDPC + SIV = a longer, inevitable acronym “The lines are blurring. So you’ve got SIVs that are now going long and short credit, you’ve got CDOs using SIV techniques, and you’ve got CDPCs very much involved on the structured credit side.” |
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| Mar-07 | Table Set for Increased SIV Activity "...there can be hurdles in setting SIVs up, but once they grow they are an effective business strategy. In this environment, SIVs are attractive because they are efficient in terms of their use of capital." |
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| Jan-07 | CDPCs Strive to Reach the Tipping Point Companies specializing in writing insurance on credit default are starting to gain traction in both the US and Europe, answering a need for more methods to disperse risk in the rapidly growing derivatives market. |
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