With the run-up to October elections in Brazil wreaking havoc on the currency, interest rates and government bonds, the country's struggling securitization industry is hardly on the minds of most bankers or investors. Yet regulations introduced early this year have changed the rules of the asset-backed game and players are now taking notice.

"There are very esoteric assets being structured," said Sheila Gaul, executive director at local risk rating agency SR Rating. "I can assure you that in a few weeks we're going to have some interesting products."

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.