AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
ING and Dutch State finalize Illiquid Assets Back-up Facility.
(From Hugin)
European Commission temporarily authorises transaction
ING today announced that it has finalized the transaction with the Dutch government on a Illiquid Assets Back-up Facility as announced on 26 January 2009. The transaction is booked and closed in the first quarter and has a limited impact on the profit & loss for the quarter.
The European Commission has temporarily authorized the Back-up Facility. In the next six months the Commission will further study the agreement, a procedure of the Commission with regard to transactions that possibly constitute State Aid. The Commission accepts the cash flow swap arrangement and risk transfer between ING and the State. In case the transaction is deemed to be materially in contradiction with the EC rules on State Aid, the Commission may request changes to the remuneration for the State in the agreement.
ING is confident on the outcome of this assessment.
The Illiquid Assets Back-up Facility will result in a full risk transfer to the Dutch State on 80% of the Alt-A RMBS portfolio at ING Direct USA and ING Americas at a discount of 10% of par value. The Dutch State will receive 80% of all cash flows from the portfolio.
ING will pay a guarantee fee to the State and will receive a funding fee and a management fee.
- Turning IOUs into cash.(Features)(Work & Money)(Illiquid Assets)
- Newspaper article from: The Christian Science Monitor January 3, 2000 700+ words
...The woman held what are called "illiquid assets." These are present, or, more...consultants have long bought and sold illiquid assets. Typically, they sell them to other...firms have sprung up to deal with illiquid assets. Such firms are often subsidiaries...
- SecondMarket Ecosystem to Bring Transparency to Illiquid Assets.
- Press release article from: PR Newswire March 26, 2009 700+ words
...Product and Service Providers for Illiquid Assets NEW YORK, March 26 /PRNewswire...SecondMarket, the largest marketplace for illiquid assets, announced today that it has launched...providers for buyers and sellers of illiquid assets. With over 25 companies already participating...
- Lehman may separate illiquid assets into two companies.
- News wire article from: PTI - The Press Trust of India Ltd. February 2, 2009 700+ words
Lehman may separate illiquid assets into two companies London...Lehman Brothers may separate its illiquid assets and put them in charge of two...plan that could separate its illiquid assets into two companies, which...
- Technology Turns to Illiquid Assets.(UnifiedMarket financial information...
- Magazine article from: Securities Industry News Hintze, John May 19, 2008 700+ words
Alternative, and often illiquid, assets such as private placements...Web service for a variety of illiquid assets. Meanwhile, Nasdaq OMX Group...which offers an assortment of illiquid assets, and Friedman Billings Ramsey...
- BSE to Debate Rules of Illiquid Assets Transfer.
- News wire article from: Mmegi/The Reporter (Botswana) - AAGM October 6, 2008 700+ words
...BSE) will on Thursday host a conference on how to change illiquid assets into instruments that can be issued and traded on the stock...The development of this instruments will help transform illiquid assets on the local capital market. The issue of securities provides...
- Novy-Marx.(illiquid assets and liquid assets)(Brief Article)
- Magazine article from: NBER Reporter June 22, 2005 700+ words
Novy-Marx argues that the high expected returns observed on illiquid assets should be expected theoretically but are not actually a premium for illiquidity, per se. Instead, illiquidity--like size...
- Income tax implications of securitising illiquid assets.
- Newspaper article from: The Nation (Thailand) June 19, 2006 700+ words
...and the transferor owns all of the issued shares of the SPV. Put simply, securitisation is a process which transforms illiquid assets such as accounts receivable and/or loans arising from real-estate acquisitions, automobile hire-purchase, or credit...
- Funds Purposely Mispriced Illiquid Assets, SEC Says.(Securities and Exchange...
- Newspaper article from: Money Management Executive November 8, 2004 700+ words
Securities and Exchange Commission examiners are reportedly finding instances of fund managers intentionally mispricing junk bond and small-cap stock mutual fund holdings and may soon take action. These securities are particularly susceptible to manipulation because they are traded infrequently.
- Upstart To Launch Portal for Illiquid Assets.
- Magazine article from: Securities Industry News Hintze, John October 15, 2007 700+ words
Following several large Wall Street firms that have introduced venues for the trading of unregistered securities, a closely held independent firm is launching an online forum that allows users to exchange indications of interest (IOIs) for illiquid securities and other assets and to negotiate terms
- Pluris Valuation Advisors Formed To Value Illiquid Assets; Affiliate Of...
- Press release article from: Business Wire September 7, 2006 700+ words
NEW YORK -- Pluris Valuation Advisors, Inc. announced its launch today in response to a growing need for expertise in valuing restricted securities and other assets that lack liquidity. Pluris, based in New York City, is an affiliate of Restricted Stock Partners, which manages the Restricted
