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October 25, 2012
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Daily news for the equipment finance sector

  Industry News 
  • Equipment-finance activity increased 16% in September, ELFA says
    Companies borrowed $8.2 billion to finance equipment last month, a 16% increase compared with September 2011, according to ELFA. The total was the largest monthly amount since December. However, ELFA President and CEO William G. Sutton noted that most of the financing was used to replace aging equipment, instead of for expansion. "The run-up to the U.S. elections, high energy prices and continuing uncertainty brought about by fragile European economies is muting what might be an otherwise robust recovery for the U.S. economy," he said. Reuters (10/23), Jones Newswires (10/23) LinkedInFacebookTwitterEmail this Story
  Market Trends 
  • Eurozone sovereign debt reached 90% of GDP in Q2
    The EU statistics office said the eurozone's government debt hit 90% of gross domestic product in the second quarter, up from 88.2% in Q1. Greece was the most indebted member, with sovereign debt totaling 150.3% of GDP, compared with 158.8% in Q2 of 2011. Reuters (10/24) LinkedInFacebookTwitterEmail this Story
  • U.K. factory orders plunge in October
    U.K. factory orders this month fell to their lowest level since December, according to a survey by the Confederation of British Industry. The decline suggests that the country's expected emergence from recession in the third quarter might be short-lived. Reuters (10/24) LinkedInFacebookTwitterEmail this Story
  • Barclays hearing might prove crucial for future Libor cases
    In a preliminary hearing, Barclays will face a claim for damages from a care-home operator that alleges mis-selling of swaps by the bank because of manipulation of the London Interbank Offered Rate. Thousands of small U.K. companies think they were mis-sold swaps, and a ruling against Barclays could open the floodgates. Monday's hearing will determine whether the allegation has enough merit to go to trial. Reuters (10/24) LinkedInFacebookTwitterEmail this Story
  Government & Regulatory 
  • Fed promises to stick with stimulus efforts
    The Federal Reserve's Open Market Committee said it will continue stimulus efforts, saying the U.S. economic recovery is too weak to significantly reduce unemployment without help from the central bank. "The committee is concerned that, without further policy accommodation, economic growth might not be strong enough to generate sustained improvement in labor market conditions," the committee said. The New York Times (tiered subscription model) (10/24) LinkedInFacebookTwitterEmail this Story
  • Plan for forex-swaps exemption is expected after election
    A plan by the U.S. Treasury Department to exempt foreign exchange swaps from rules will be presented after the Nov. 6 election, a banking industry source said. The plan was supposed to be finalized by an Oct. 13 deadline for swaps-dealer registration. "I think that we have reason to expect that the Treasury will act before the end of the year," the unidentified source said. "We also have reason to believe they will act with consistency to what they proposed last year." Reuters/Financial Regulatory Forum blog/Thomson Reuters Accelus (10/24) LinkedInFacebookTwitterEmail this Story
  • Basel official defends regulatory complexity as necessity
    Complexity is a necessary part of Basel III banking rules, which cannot be reduced to a simple formula and must not be discarded, said Wayne Byres, secretary general of the Basel Committee on Bank Supervision. He also said debt limits shouldn't be regarded as a panacea. "Despite its apparent simplicity, an internationally comparable leverage ratio is anything but simple to design," Byres said. Financial Times (tiered subscription model) (10/24), Reuters (10/24), Bloomberg (10/24) LinkedInFacebookTwitterEmail this Story
  ELFA News 
  • October employer special: ELFA Career Center
    Calling all employers with positions to fill! During October only, you'll save 15% on a 30- or 60-day job posting at the ELFA Career Center. Pay only $254 for a 30-day posting -- 50% off the nonmember price! To take advantage of this special offer, visit the ELFA Career Center, create an account and post your job using promo code OctoberSpecial. You'll see results: In 2012, our job postings have received an average of 603 views per job and 15 "Apply" button clicks. LinkedInFacebookTwitterEmail this Story
  • Get an insider's look
    In this economy, you need to stay on top of trends in the marketplace to keep your competitive edge. Mine business intelligence from the 2012 Survey of Equipment Finance Activity, the most important and comprehensive source of statistical information on the equipment-leasing and -finance industry. Get an insider's look at data from 109 equipment-finance companies, by volume size, organization type, market segment and business model. You can't get this information anywhere else.

    David Wiener, ELFA member and managing director at The Alta Group, said, "This kind of business intelligence would cost any organization well into the six figures to data mine on their own. There is no data repository within our industry that even comes close."

    Special offer: Go to to download a free summary or order the full report. ELFA members save 46%! LinkedInFacebookTwitterEmail this Story
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In any field, find the strangest thing and then explore it."
--John Archibald Wheeler,
American theoretical physicist

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