Credit risk transfer - developments from 2005 to 2007 - final document

July 2008

In March 2007 the Financial Stability Forum (FSF) asked that the Joint Forum consider the extent to which its March 2005 report Credit Risk Transfer (CRT) required updating as a result of the continued growth and rapid innovation in the CRT markets. The market turmoil since the summer of 2007 led to a desire for the Joint Forum to be able to report quickly and present a brief paper at the March 2008 meeting of the FSF. Accordingly the Joint Forum sought to keep the scope of its work focused on what is achievable in that time scale, yet provide as much useful information as possible.

Highlights

The main findings of the paper are summarised as follows: