Enronitis Strikes Again?
Off-Balance-Sheet Vehicles under Scrutiny as
Capital Adequacy Ratios look Undermined
London, UK - 17th April 2008, 14:03 GMT
Dear ATCA Colleagues
[Please note that the views presented by individual contributors
are not necessarily representative of the views of ATCA, which is neutral.
ATCA conducts collective Socratic dialogue on global opportunities and threats.]
Remember Enron? Remember the fuss over off-balance-sheet vehicles?
Well, we appear to have turned three corners since then, and are back to
where we started from! In the latest leg of the Great Unwind, financial
institutions off-balance-sheet vehicles and complex structured products
are coming under detailed scrutiny as capital adequacy ratios look severely
undermined. Rules regarding how banks account for off-balance-sheet interests
are "irretrievably broken", a senior group of international rule
makers has warned.
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