Financial Times FT.com

SIV sector takes notes of Cairn’s restructure

By Paul J Davies

Published: September 6 2007 23:07 | Last updated: September 6 2007 23:07

Fresh warnings have affected the off-balance sheet investment vehicles run by banks and asset managers this week, suggesting the sector is still at risk.

The actions by ratings agency Moody’s and its peers even prompted Citigroup, the granddaddy of the structured investment vehicle (SIV) world, to issue a series of statements about the creditworthiness of the more than $100bn of assets in its seven vehicles and their continued ability to raise funding.

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