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January 7, 2013
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Daily news for the equipment finance sector

  Industry News 
  • Researchers: Factory jobs were hit by trade deal with China
    Giving China "permanent normal trade relations" status in 2000 has reduced U.S. manufacturing employment by 29.6%, according to a paper by Federal Reserve researcher Justin Pierce and Yale University's Peter Schott. Without the deal, U.S. manufacturing jobs would have increased by about 10% rather than contracting, they concluded. The Washington Post/Wonkblog (1/6) LinkedInFacebookTwitterEmail this Story
  • Construction industry will grow modestly, economists say
    Several key markers of growth in the construction industry, including the 30,000 jobs added in December, could be attributed to an improving economy, but economists are cautious about calling it a rebound. Ken Simonson, chief economist of the Associated General Contractors of America, and several other economists said they expect modest growth for the industry in 2013. The Washington Post (1/4), CoStar Group (1/4) LinkedInFacebookTwitterEmail this Story
  • Morningstar: Caterpillar will see slower growth in 2013
    Caterpillar may find it difficult this year to top its record performance in 2012. Morningstar analyst Adam Fleck predicts that the company will experience slower growth. "Caterpillar's mining equipment business comprises nearly 50% of operating profits, and the company has seen recent order contraction," Fleck says. Peoria Journal Star (Ill.) (1/5) LinkedInFacebookTwitterEmail this Story
  Market Trends 
  Government & Regulatory 
  • Basel panel eases up on liquidity-coverage ratio
    The Basel Committee on Banking Supervision has granted a four-year reprieve and phase-in period for its liquidity-coverage ratio, a step that banks had argued was necessary to sustain lending. Originally, banks were required to have in 2015 sufficient liquid assets to cover expected outflow over 30 days. The date for that has been changed to Jan. 1, 2019, with banks needing to show a 60% ratio in 2015. "[The Group of Governors and Heads of Supervision have] rescued the concept of a global liquidity rule, but its reality remains up in the air," said Karen Shaw Petrou, managing partner of Federal Financial Analytics. Financial Times (tiered subscription model) (1/6), Reuters (1/6), Bloomberg (1/7), The Wall Street Journal/Dow Jones Newswires (1/6) LinkedInFacebookTwitterEmail this Story
  • New rules for derivatives favor platform consolidation
    Derivatives are at the core of the merger of NYSE Euronext and IntercontinentalExchange, Helen Bartholomew writes. The regulatory push to get derivatives centrally cleared opens up new business lines for exchanges with a global reach, product breadth and cutting-edge technology, and those elements combined allow exchanges to create and list "contracts that mirror the economics of [over-the-counter] derivatives," Bartholomew writes. International Financing Review (free content) (1/5) LinkedInFacebookTwitterEmail this Story
 
  • The effectiveness of small-business lending programs
    The Government Accountability Office has issued a report analyzing the efficacy of the Small Business Lending Fund and the State Small Business Credit Initiative. Banks that participated in the SBLF program were able to increase their overall business lending by 31%. However, the GAO has pointed out there have been reporting problems with both programs. Small Business Trends (1/3) LinkedInFacebookTwitterEmail this Story
 
  ELFA News 
  • Be your best from your desk: 50% members-only discount on ELFA Academy online courses!
    Learning has never been easier or more affordable! Sign up now for Fundamentals of Equipment Leasing and Finance, Financial Statement Analysis OR Should You Do the Deal: Case Studies in Equipment Leasing and Finance and receive ½ off your registration fees! Go to www.elfaonline.org/Events/eLearning/. To receive the discount on the Fundamentals course, enter the discount code: ELFAPROMO11. To receive the discount on the Financial Statement Analysis or Should You Do the Deal courses, enter the discount code: ELFACREDIT. For questions, contact Alexa Carnibella, acarnibella@elfaonline.org or 202/238-3416. LinkedInFacebookTwitterEmail this Story
  • A benchmarking and research tool like no other
    If you are looking for research, benchmarking and business intelligence about the equipment finance industry, the 2012 Survey of Equipment Finance Activity is your go-to guide. The 324-page survey report is the most important source of statistical information available on the equipment leasing and finance industry, based on responses from 109 ELFA-member companies. The survey results include the most comprehensive industry performance metrics available, including data relating to respondents' volume and type of leasing business, productivity measures, and residual experience. It also presents balance sheet data and measures financial ratios and profitability. Special Offer: Go to www.elfaonline.org/SEFA to download a free summary or order the full report -- ELFA members save 46%! LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
If money be not thy servant, it will be thy master. The covetous man cannot so properly be said to possess wealth, as that may be said to possess him."
--Francis Bacon,
British author and statesman


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