Abstract: LONDON (Standard&Poor's) Aug. 29, 2007--There is a sense of déjà vu about the current environment for securities firms, which bears many similarities to that of the late summer and fall of 1998, Standard&Poor's Ratings Services noted in a report entitled "Investment Banking And Trading: Stressing For A Tougher Environment," published on Aug. 28, 2007. "This time, rather than a sovereign default by Russia, it is rising delinquencies on U.S. subprime mortgages that have sparked the bout of market volatility," said Standard&Poor's credit analyst Nick Hill. Key points include the following: -- Once again, we see sharp falls in stock markets following a strong run, a jump in volatility, sizable losses at some large hedge

Brief Excerpt: RESEARCH Ratings Definitions Difficult Times Call For Harsh Stress Tests For Investment Banking And Trading, Report Says Publication date: 29-Aug-2007 LONDON (Standard & Poor's) Aug. 29, 2007--There is a sense of deja vu about the current...

Report Type: News
Sector: Financial Institutions, Global Issuers
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 S&P Credit Research
S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.