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January 4, 2013
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Daily news for the equipment finance sector

  Industry News 
  • U.K. asset-based lending industry eyes code of conduct
    A group of U.K. finance firms, businesses and brokers in asset-based lending will propose establishing a code of practice and a complaint process for the industry. "Having lenders who adhere to quality and ethical lending standards will encourage more borrowing from this sector and will give the checks and balances it so badly needs," said Brian Moore, who is leading a campaign for voluntary regulation. The Telegraph (London) (tiered subscription model) (1/4) LinkedInFacebookTwitterEmail this Story
  • Buffett firm will spend $2B to $2.5B on 2 Calif. solar projects
    MidAmerican Energy Holdings, owned by Warren Buffett, is paying between $2 billion and $2.5 billion for two planned solar projects in California. SunPower, the seller, will build, operate and maintain the facility, which is expected to generate about 650 construction jobs. Bloomberg (1/2) LinkedInFacebookTwitterEmail this Story
  Market Trends 
  • Eurozone lending declines again
    Loans to the private sector in the eurozone decreased 0.8% in November, extending October's decline, the European Central Bank reported. The data suggest more interest-rate cutting by the ECB is in order. "The concern is that a number of companies who do want to borrow ... and are in decent shape are finding it hard to, so tight credit conditions are handicapping eurozone growth prospects," IHS Global Insight economist Howard Archer said. The Irish Times (Dublin)/Reuters (1/3) LinkedInFacebookTwitterEmail this Story
  • Indian manufacturing accelerated in December
    New orders and expanded production boosted the HSBC Markit India Manufacturing Purchasing Managers' Index to 54.7 in December, from 53.7 in November. The latest reading is the highest in six months and signals "a further improvement in the health of the Indian manufacturing sector," HSBC Holdings said. The Economic Times (India) (1/3) LinkedInFacebookTwitterEmail this Story
  Government & Regulatory 
  • Fate of Dodd-Frank might be decided this year, analysts say
    Because rhetoric over the Dodd-Frank Act has softened and political alliances across the aisle have formed, 2013 could be the year that meaningful regulation comes out of Congress, analysts say. "There is no repealing Dodd-Frank, but there will be efforts to eliminate duplicative parts of the law to avoid unintended consequences," said Jaret Seiberg, senior policy analyst at Guggenheim Partners. The Washington Post (1/2) LinkedInFacebookTwitterEmail this Story
  • OCC signals banks will have more time to wall off swaps trading
    U.S. companies that engage in swaps trading and receive federal deposit insurance are required under the Dodd-Frank Act to spin off some swaps trading into a separate branch. However, the Office of the Comptroller of the Currency says that if banks ask for a transition period, the request will be "considered favorably." Reuters (1/3), Bloomberg (1/3) LinkedInFacebookTwitterEmail this Story
  • Schaeuble urges U.S. to implement Basel III
    German Finance Minister Wolfgang Schaeuble says he is confident Europe will implement tougher capital rules for banks this year, and he put pressure on the U.S. to do the same. "I am confident that in the course of the year we will complete [details] in time to be able to start building up the additional capital required in the timeframe set by Basel III," Schaeuble wrote in an essay. "I also expect from our American partners that they too stick firmly to the political decision to introduce the new set of rules." Reuters (1/3) LinkedInFacebookTwitterEmail this Story
  ELFA News 
  • You want exposure: Become an exhibitor or a sponsor at ELFA's Equipment Management Conference!
    The 2013 ELFA Equipment Management Conference & Exhibition, scheduled Feb. 24 to 26 at the Grand Hyatt Tampa Bay in Tampa, Fla., is a sure way to get the kind of exposure you want. By becoming an exhibitor or a sponsor, you will strengthen your brand with customers and be more credible with potential ones.

    As of Dec. 17, these companies have agreed to exhibit at this conference.
    • Alternative Collection Solutions
    • Belmont Technology Remarketing
    • EquipmentEngine Financial Services
    • Equipment Placement Services
    • IronPlanet
    • Irontrax
    • LifeSpan Technology Recycling
    • Liquidity Services
    • Mac of All Trades
    • Perfection Machinery Sales
    • RCI Wholesale Copiers
    • Ritchie Bros. Auctioneers
    • Ross International
    • RTR Services
    • Taylor & Martin
    • Wulff Enterprises

    ELFA wishes to thank these companies for helping to increase the value of this conference.

    To obtain information on how to become an exhibitor or a sponsor, contact Nick LaRich at (440) 247-1060 or nlarich@larichadv.com.

    See the agenda and register. Important: Make a hotel reservation before Feb. 1. Go online or call the hotel at (813) 874-1234 or 1-800-233-1234. Provide arrival and departure dates and mention "ELFA Equipment Management Conference" to get the ELFA group rate. LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
Beware the fury of a patient man."
--John Dryden,
British poet, critic and playwright


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