TSI Congress 2010 –
Credit and securitisation markets emerging from the crisis

The credit markets have made a clear recovery since March 2009. The markets for corporate bonds and financially sound government paper are booming and confidence in high-quality securitisation transactions is also slowly returning. Public transactions have again been placed successfully in the market and the spreads are tending to narrow. There can be no doubt – new regulatory framework conditions and the experience of investors, originators and rating agencies have enhanced the quality of the securitisation markets. However, the financial crisis has shifted the focus to other markets and, for example, the position of lower rated government bonds and the situation on the commercial real estate markets are being viewed with a very critical eye. At the same time, far greater attention is being paid to euro-area government debt and measures to ensure the long-term consolidation of government finances are being discussed in various forums.
   

Topics at the TSI Congress 2010

  • Sustainability of the upswing in the bond markets
  • Developments at the banks and in corporate finance
  • Lessons to be learned from the financial crisis for government, the banking sector and investors
  • Quality features and performance of German transactions and asset classes
  • Opportunities for investors in the credit and securitisation markets, especially in German securitisations
  • Current regulations and their impact on the credit and securitisation markets
  • Equity and risk management issues, particularly in connection with securitisation options
  • New ECB requirements in repo transactions
  • Experience of restructuring credit and securitisation portfolios
  • Ratings and the work of rating agencies
  • Special topics – specific asset classes, taxation and legal matters

As in 2009, at the TSI Congress in October 2010 we plan to look at the current issues of importance to the German credit and securitisation markets in the light of occurrences in the international financial markets and of economic and regulatory developments. We also wish to highlight opportunities for investors and, as in previous years, discuss risk scenarios openly.