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November 29, 2012
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Daily news for the equipment finance sector

  Industry News 
  • Revolving lines of credit are expected to be down this year
    Revolving lines of credit will likely have dropped in 2012 because of fewer issuances and more companies seeking other forms of funding, such as the corporate bond market. Thomson Reuters reports that corporate credit lines issued in the loan market were $787 billion as of Nov. 14, compared with $1.28 trillion for all of 2011. "The conventional wisdom is that everyone was waiting to see what happened with the [presidential] election," says Richard Pollak of Troutman Sanders. Now the "fiscal cliff" is seen as a deterrent, Pollak says. (11/28) LinkedInFacebookTwitterEmail this Story
  • Eurozone lending declined again in October
    The eurozone's latest recession kicked off with a 0.7% drop in private lending last month compared with October 2011, extending a 0.9% decline in September, the European Central Bank reported. "Despite the ECB's efforts to improve monetary-policy transmission, there are still wide differences in lending rates, and many banks are still reluctant to extend credit given the recessionary environment," said Thomas Costerg, an economist at Standard Chartered. Bloomberg Businessweek (11/28) LinkedInFacebookTwitterEmail this Story
  Market Trends 
  • China's rebounding growth leads to copper shortage
    China's recovery from seven quarters of declining growth is creating demand for copper that substantially exceeds supply and is driving up prices worldwide. On the London Metal Exchange, copper's price has risen 3.1% this year and could be 6% higher by the second quarter, according to estimates by analysts and traders. Bloomberg (11/29) LinkedInFacebookTwitterEmail this Story
  • Home-sales data are unexpectedly negative
    A shadow of doubt has been cast over signs of recovery in the housing market, after sales of new homes unexpectedly declined 0.3% in October and September's numbers were revised downward. Nonetheless, noting volatility in new-home sales, "we are not changing our view that a modest recovery in home sales, construction activity and prices is well under way," RDQ Economics' John Ryding and Conrad DeQuadros wrote in a research note. Bloomberg (11/28) LinkedInFacebookTwitterEmail this Story
  Government & Regulatory 
  • Volcker rule finalization is unlikely before next year
    Regulators are not expected to meet a Dec. 31 deadline for issuing the final draft of the Volcker rule. Previous drafts have been several hundred pages long, and the rule requires approval by five agencies, including the Federal Reserve and the Federal Deposit Insurance Corp. CNBC (11/28) LinkedInFacebookTwitterEmail this Story
  • China is expected to loosen monetary policy cautiously in 2013
    Facing less pressure from inflation, China's central bank is likely to offer looser monetary policy and lower interest rates next year, says Chen Dongqi, a senior researcher at the National Development and Reform Commission. However, with some economists warning that major stimulus could lead to problems later in the year, caution is in order for any substantial changes in monetary or fiscal policy, Chen says. Jones Newswires (11/28) LinkedInFacebookTwitterEmail this Story
  Best Practices 
  ELFA Member News 
  • Navitas Lease secures funding and widens credit facility
    Navitas Lease has closed the second tranche of a Series B preferred-stock investment. The company also completed a second expansion of a revolving senior secured credit facility with Wells Fargo Capital Finance, bringing the credit line to $75 million. Read more. LinkedInFacebookTwitterEmail this Story
  ELFA News 
  • What are you waiting for? Registration is open NOW for the 2013 Principles of Equipment Leasing and Finance Workshop!
    The ELFA Principles of Equipment Leasing and Finance Workshop is all about helping your employees become more valuable members of your corporate team. That means getting a full understanding of the basics of the business within the context of what is happening in the marketplace. That's the reason the agenda varies from year to year, to make sure the curriculum remains relevant.

    Three workshops are scheduled in 2013.
    • April 8 to 10 in Chicago
    • June 3 to 5 in Philadelphia
    • Sept. 9 to 11 in Woodland Hills, Calif. (near Los Angeles)

    View the brochure and register in the Events & Training section of ELFA's website. For questions, contact Alexa Carnibella at (202) 238-3416 or

    Can't make one of these dates?
    Hosting a workshop at your facility gives you flexibility and convenience to address specific learning needs of your employees, establish collective knowledge, create a shared skill set and achieve even your most challenging business goals. If you're interested in in-house training, contact Janet Fianko at (202) 238-3420 or LinkedInFacebookTwitterEmail this Story
  • Foundation releases study on Canada
    The Equipment Leasing & Finance Foundation is pleased to announce the release of our newest research project, Oh Canada! Seeking Growth North of the Border.

    This study is a must-read for any company considering expanding into Canada. The report includes an analysis of the country's equipment-leasing and -finance market; geographical influences on industries and assets; environmental factors affecting the region; regulatory and accounting considerations, in addition to operational conventions; and funding and capitalization considerations. Research was conducted by Jonathan Fleisher of Cassels Brock & Blackwell and Hugh Swandel of The Alta Group.

    Visit the Foundation website to download your copy! LinkedInFacebookTwitterEmail this Story
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We acquire the strength we have overcome."
--Ralph Waldo Emerson,
American writer

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