Silverado Asset-Backed Securities: Fraud & Deceit in the Brazilian ABS Market

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Investors lost over R$400 million in the failure of Silverado’s two main ABS securities, called Fundo de Investimento em Direitos Creditórios (FIDC).  Latin America Structured Finance has written this article to inform credit investors about the unique risks posed by the Brazilian credit markets, especially the market for FIDCs.

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The Missing Factor in the Economic Forecasts for Brazil

1000 centro black white Brazil’s economy recently entered into recession and the outlook is not very positive for an early exit.  LASFA finds that most economists are ignoring one important factor for economic growth in Brazil.  Click on the link below to read our analysis.

The one factor missing from Brazil economic situation

Delinquencies for Brazilian ABS increase dramatically over the last year

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This study is the second of  three reports that we have recently issued that looks at credit performance and the levels of delinquent and non-performing loans in Brazil’s financial system. This report focuses on Brazilian asset-backed securities.

LATAM Structured Finance Credit Performance FIDC Collateral Nov 2014

 

Our latest Journal of Structured Finance Article: “Pricing Brazilian ABS to Trade in the Secondary Market: Benefits from Assimilating Best Pricing Practices”

Here is the link to the Journal of Structured Finance Article

Brazilian asset-backed securities (ABS) appeal to investors because of their relatively high yields and diversification benefits. However, Brazilian and international investors struggle to price these ABS because of the country’s unique financial calculations, lack of transparency, and the scarcity of quantitative pricing tools in Brazil.

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