12 Sep 2011 - EU Advisory Role

Details

Published on Monday, 12 September 2011 00:00

In November 2009 the Company was appointed to two panels of advisors by the European Commission (the "Commission").

The panels provide valuation & advisory services to the Commission about impaired assets that banks hold on their balance sheets.

The Company's appointment followed a competitive tender process arranged by the Commission to select two panels of experts. Experts assist the Commission in its evaluation of impaired assets held by financial institutions in receipt of state aid.

The Directorate-General for Competition of the Commission evaluates support given by member states to the banking sector and the business plans of each institution in receipt of state aid. As part of that process the Commission has enlisted the expertise of organisations with specialist knowledge of "hard to value" asset classes.

The Company provides specialist advice on a variety of securitised products including US and European residential and commercial mortgages. It can be difficult to establish the fair market value for these products and the Company provides analytical services as well as advice on the conceptual framework to be used to determine fair market values. Experts may also provide training for Commission officials to develop their knowledge of structured credit products.

The Company’s appointment was renewed by the Commission in 2010/2011 and will soon be renewed for 2011/12.