Guidelines & Circulars listing on Bank Negara Malaysia's website

Guidelines on Data Management and MIS Framework has been updated.

The PDF format document are available for download via the URL provided below:

http://bit.ly/gg2C2z

US 'to sue a dozen banks over housing bubble mortgages'

The US is planning to sue more than a dozen major banks for misrepresenting the quality of mortgages they sold during the housing bubble, the New York Times reports.



The Federal Housing Finance Agency will argue that the banks should have known the securities were not sound.

Bank of America, JPMorgan Chase, and Goldman Sachs are to face action, the newspaper quotes sources as saying.

SEE FULL ARTICLE ON THE BBC WEBSITE BY CLICKING ON THIS LINK

Bond Defaults - Rights of Bondholders

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In theory:

•Unsecured bondholders:

–Ranked parri-passu with all other unsecured creditors

•Secured bondholders:

–Rights to the assets secured to the bondholders

•Subordinated bondholders:

–Ranked lower than the unsecured creditors

In Practice: There are a few loop holes that bondholders can exploit. This is especially so with bonds that was issued when then the market initially boomed. As time progresses, lessons learned from previous defaults have been incorporated into the latest legal documents so as not to provide the legal means to do something that goes again the original understanding.