The Press Trust of India reports that India’s ICICI Bank has sold $275 million of credit derivatives. The article does not give any information on the kind of credit exposures referenced by the credit derivatives, which it says were held in its foreign offices. The article quotes an ICICI spokesperson as saying  that ICICI Bank sold a portfolio of its credit derivatives portfolio three weeks ago and is reducing its exposure to “highly volatile CD portfolios”

Newsletter

November 2008
News: CDS players smell rat after Rentokil private issue; Discount rules halt CLO trading; Morgan Stanley sells CDPC to Magnetar
People: Banks downsize credit prop operations; BNP Paribas reorganises trading; Fast moves
Deals: Investors sniff potential for further triple A CLO widening; Australian investors hope for windfall pay-out
Funds: Big name partners attract funds for structured opportunities strategy; Lehman collapse and loan falls dent returns
Analysis: Lifting the lid on CDO performance; Structured credit outperforms 
Profiles: Viewpoint - Jonathan Trutter; Stanfield
Comment: Fishknife, Wolseley

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