Let's call this macabre gathering -- with luck and even worse times, it should be mammoth -- "We Surrender" or "Restore Debtor's Prisons" or "De-Fault Is Ours" or "Collateralize Us".
Other ideas include selling or pawning something of value like jewelry, a vehicle or even collateralizing an investment or piece of real estate, Creamer and Dvorkin said.
Covered bonds, or Pfandbriefe, are collateralized with high-quality assets that stay on a bank's balance sheet.
But the Laiki examiners, in their audit reports, argue not only that the loans made no financial sense and were not sufficiently collateralized or guaranteed but also that they were part of a quid pro quo that reflected a "broader cooperation" between Laiki's former chairman, Andreas Vgenopoulos, who auditors say signed off on the loans, and Mr. Sallas.
Otherwise, Venezuela could sell or even collateralize some of its resources in order to get the necessary dollars.
And not just into tricky mortgage investments, collateralized this or securitized that, but actual houses.
Yves Smith writes:Readers no doubt recall that the Fed announced the creation of the Term Asset-Backed Securities Loan Facility, which will lend as much as $200 billion against new or recent vintage asset backed securities collateralized by "student loans, auto loans, credit card loans, and loans guaranteed by the Small Business Administration".
Wakefield steers franchisees to government-backed Small Business Administration loans via private lenders that carry interest rates of prime plus one or two points; the loans are collateralized with the building, land and equipment, as well as with franchisees' homes and life insurance.
It also claims Dykstra appealed to the New York publisher to assist him in raising cash, either by helping him secure a loan collateralized with his new home or by finding a buyer for a promissory note he held against a car wash.
Moreover, the majority of traded interest rate derivatives are nowadays collateralized and the remuneration of the collateral is based on the overnight rate.
The fourth specification corresponds to a "pre-default" recovery scheme without collateralization, while the last one corresponds to a fully collateralized contract.
