It was established in 2005. As of 2007 it was managed by a team led by Dominic Swan, who previously led the SIV-rating department at Moody's.
It was notable for growing faster than any other SIV so far and was as of 2007 one of the six largest SIVs.
On 26 November 2007, HSBC announced that it would rescue two SIV's, Cullinan Finance and Asscher, by moving them onto its balance sheet and providing up to $35 billion.
As of 2008, Cullinan Finance Limited is in liquidation.
- (Fitch: ABCP conference 2007). [Clarify?]
- FT.com / Companies / Financial services - HSBC in $45bn SIV bailout
|This bank, insurance, or other financial services corporation article is a stub. You can help Wikipedia by expanding it.|