Cullinan Finance
Encyclopedia
Cullinan Finance is a Structured investment vehicle
(SIV) run by HSBC
with total asset portfolio around $27 billion USD.
It was established in 2005. As of 2007 it was managed by a team led by Dominic Swan, who previously lead the SIV-rating department at Moody's
.
It was notable for growing faster than any other SIV so far and is as of 2007 one of the six largest SIVs.
On 26 November 2007, HSBC announced that it would rescue two SIV's, Cullinan Finance and Asscher, by moving them onto its balance sheet and providing up to $35 billion.
Structured investment vehicle
A structured investment vehicle was an operating finance company established to earn a spread between its assets and liabilities like a traditional bank...
(SIV) run by HSBC
HSBC
HSBC Holdings plc is a global banking and financial services company headquartered in Canary Wharf, London, United Kingdom. it is the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine...
with total asset portfolio around $27 billion USD.
It was established in 2005. As of 2007 it was managed by a team led by Dominic Swan, who previously lead the SIV-rating department at Moody's
Moody's
Moody's Corporation is the holding company for Moody's Analytics and Moody's Investors Service, a credit rating agency which performs international financial research and analysis on commercial and government entities. The company also ranks the credit-worthiness of borrowers using a standardized...
.
It was notable for growing faster than any other SIV so far and is as of 2007 one of the six largest SIVs.
On 26 November 2007, HSBC announced that it would rescue two SIV's, Cullinan Finance and Asscher, by moving them onto its balance sheet and providing up to $35 billion.