Category Archives: Specialized Purpose Vehicles

Update on Where Institutional Investors Can Buy Trade Receivables? – Non Bank Sources

The challenges in making a market for trade assets are several and significant. First, as an asset class, it is poorly understood by end investors. […]

Update on Where Institutional Investors Can Buy Trade Receivables? Post 1

If you listen to some of the publications out there, you would think that trade is already an asset class and all you have to […]

Are Trade Receivable Securitisation Programs an Option for You?

A recent article in Treasury Today talked about how uncertain bank regulatory and increasing costs of credit from Basel capital rules is putting Trade Receivable […]

Trust Me, I’m a Banker – Post 2

Banks Lack Transparency in defining Trade Finance Defaults    Yesterday, we looked at how two banks differ in their definition of trade finance related write-offs. […]

Caveat Emptor Investor – Banks Lack Transparency in defining Trade Finance Defaults Post 1

So just how do banks go about defining a default around Trade Finance?  I was able to get some insights by reading the prospectus of […]

The $3 Billion Broker in Trade Finance no one has heard of – Payables.X

According to International Asset Transactions LLC (IAT), they have been dedicated to making illiquid (non-tradable) financial assets tradable since 1988.  IAT claims to have pioneered […]

How the SEC Custody Rule is impacting Alternative Finance and Investors

Scaling Institutional Investment in Trade Receivables requires creating Infrastructure and that includes Custodians (and not the janitorial kind). There are two big areas of third […]

Where Can Institutional Investors Buy Trade Receivables?

Basel III and its new regulatory demands created high marginal costs of equity capital for banks, particularly with non investment grade exposures. Banks became increasingly […]

Why Repayment Velocity Matters to Securitization Investors

When Marketplace lenders establish new loans, the question of how repayment is going to work matters to investors, particularly those that invest in their securitization […]

Balance sheet management via Receivable Securitization – by the numbers

Trade Receivable Securitizations is essentially a legal construct to get liquidity out of a diversified receivables portfolios with a different approach compared to factoring. You […]

Options to Buy Trade Finance and Trade Credit Assets are Growing – Part 2

The disruption occurring around working capital business banking is in the early days, but between “information advantaged” finance models and more expensive bank equity, start-ups […]

Options to Buy Trade Finance and Trade Credit Assets are Growing – Part I

Bank’s have been looking to distribute trade finance assets off their books for a number of years because their equity has become increasingly expensive, especially […]