Introduction September 22, 2014 (the "Implementation Date") will mark a new chapter in the credit derivatives market with the implementation of the new 2014 ISDA Credit Derivatives Definitions (the "New Definitions"). The New Definitions constitute a major reform of the terms governing credit derivatives products and address numerous issues identified this past decade with regard to credit and succession events and in the context of the Eurozone crisis. Most new credit derivatives trades entered into after the Implementation Date will...

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Come join EACCNY Member VentureoutNY for "Tech Tango" Wednesday, August 20th @ Jazz Room at the General at 6:00pm! VentureOutNY hopes you can join them on Wednesday, August 20th for "Tech Tango”, an event showcasing our all-star lineup of Argentinian tech companies in New York City and a panel of prominent venture investors featuring the founders of Empire Angels, Redwood Partners and more. More info and to register click here. See you at the General! OTHER UPCOMING PROGRAMS INCLUDE: Mid by Midwest We are very...

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The collateral behind the $235 million 540 West Madison Street loan could see occupancy dip to 54% by year-end. Bank of America has now given up a second large chunk of space in the Chicago office building. The move by Bank of America was not entirely unexpected. In the original offering docs, footnotes surrounding the loan indicated that BOA had the right to relinquish big amounts of space. At loan origination, Bank of America had 757,317 square feet (almost 69%) in the 1.1...

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WEBINAR RECORDING AVAILABLE! The proliferation of mobile computing platforms and the applications they run has exploded. There are over 40,000 health related applications on the iTunes store alone, and more to come with the release of Apple’s HealthKit this fall. Health care providers have access to technology that was the stuff of science fiction, and health care consumers can track their own health status and records with the swipe of a finger. On September 25, 2013, the FDA finally made its...

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Two atoms exchange a virtual photon – the empty space around them is not as empty as one might think. Photo: Vienna University of Technology A vacuum is not as empty as one might think. In reality, empty space is a bubbling soup of various virtual particles spontaneously appearing and disappearing, popping in and out of existence. This phenomenon is called “vacuum fluctuations”. Usually, we do not notice such extremely short-lived particles, but in certain cases vacuum forces can have...

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It is not only dreamy tulip fields, windmills and canals that draw many of Vistra's clients to the Netherlands, but also the country's steady rise as an "increasingly attractive destination for doing international business". Maximising on extensive tax treaty networks and diversifying its product portfolio, our ever-expanding Dutch office has kept up the pace with the recent acquisition of a local boutique financial services provider. Proactivity is also no stranger to Singapore with its strong appeal to investors seeking...

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In mid-2013 the Central Bank of Ireland (“Central Bank”) issued a Discussion Paper in relation to loan origination by Irish domiciled regulated alternative investment funds. Context for that Discussion Paper included the evident appetite for launching direct loan origination products on the part of credit managers as well as the apparent need for alternative credit sources for commercial enterprises in an environment where the bank lending had been significantly curtailed. On July 28, 2014 the Central Bank issued a Consultation Paper...

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Download the full report for data on the top five loans taking losses and top five newly delinquent loans in July. The Trepp CMBS delinquency rate barely extended its winning streak to fourteen months in July. The delinquency rate for US commercial real estate loans in CMBS is now 6.04%, one basis point lower month-over-month. July’s reading is 244 basis points lower than the year-ago level. Year-to-date, delinquencies have fallen 139 basis points from 7.43% as of December 31, 2013. Loan resolutions totaled...

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Last week, the U.S. Department of State’s visa processing database, which controls the issuance of visas and passports at the U.S. consulates abroad, experienced system performance issues (including outages) leading to worldwide delays in visa issuances for individuals seeking entry into the United States. The malfunction in the Consular Consolidated Database stalled the processing of U.S. visas for foreign nationals at consulates around the world, and was not limited to one consulate or country. Although the consular database is back...

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There is a hurdle to be acknowledged: most in this world of business and transactions are used to working in a world governed by quantitative data that can be measured and analyzed: EBITDA, interest rates, IRR and ROI,  exchange rate or bond yields.  Assigning a critical value to culture in business and transactions, is asking for an acknowledgment of the importance of a markedly non-quantitative factor in business. This requires a fundamental shift in our overall calculus, away from...

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