Individual restructurings continue across the SIV sector as sponsors take a more proactive stance in the run-up to M-LEC. Last week, Rabobank and Societe Generale announced proposals that would help their respective vehicles avoid enforcement.
"We are seeing a mixture of solutions," said Henry Tabe, managing director in the structured finance group at Moody's Investors Service. "Some banks are providing assistance immediately, bringing loans on balance sheet while assisting in the retirement of assets. But we are also seeing other solutions."