Bank of America said yesterday that it would provide as much as $ 600 million to prop up several Columbia Management funds, which bought large amounts of debt issued by structured investment vehicles, or SIVs, that is now worth less than it paid. (thedigeratilife.com)
In part, this has resulted from the liquidation of a number of structured investment vehicles (SIVs) who had invested in fixed income products, particularly RMBS. (rba.gov.au)
b) The banks appear to have gone along for the ride... No surprise really, considering the existential threat posed by their mortgage / sub - prime / structured investment vehicle exposure. (wexboy.wordpress.com)