European Financial Stability Facility secures triple A rating
US corporate restructuring and balance sheet improvements have drawn investor focus to corporate credit. But technical factors make financials look attractive.
Countering the credit challenge
Cutting counterparty risk has a price tag that might prevent smaller funds from changing their ways, experts fear
US insurance regulators turn their focus to CMBS
European Central Bank executive board member José Manuel González-Páramo acknowledges risks in central bank’s willingness to accept broad range of collateral
'An explosion of sovereign debt'
Cornered on collateral
Government agency looks to alleviate funding costs for bank counterparties in swaps transactions.
Portfolio managers accustomed to building books in neat blocks of $50 million may struggle to unwind such positions in the new liquidity-starved secondary markets.
Question of trust
The executive vice-president and portfolio manager at Pimco talks about the asset manager’s plan to broaden its high yield offering, and where he sees the current risks and opportunities in that market.
CVA and the equivalent bond
Efforts by Isda and international banks to get Asian counterparties to use portfolio reconciliation services for OTC derivatives are starting to pay off
Fitch Ratings stress test concludes that eight european insurers would require "further analysis" after sovereign risk fallout
Refinancing risk dwarfed by Solvency II’s impact on insurer appetite for corporate debt
Executive managing director Tony Angel is leaving Standard & Poor's after two years
The emergence of credit risk mitigation techniques has enabled banks to continue lending while easing their concentration risks. But this has come at a heavy cost, as investors in many complex, leveraged synthetic structures discovered following the collapse...
The standardisation and enforceability of documents represents a cornerstone of the over-the-counter derivatives market in Asia. But as the sector continues to grow, risk mitigation from close-out netting has yet to gain legal certainty in many jurisdictions....
Sovereign derivatives users have been able to avoid posting collateral to their dealer counterparties in the past, but pending reforms to bank capital and funding rules are changing the equation. If sovereigns refuse to budge, they will have to accept...
The Basel Committee on Banking Supervision has adapted its proposals for a capital charge on counterparty risk following industry feedback, but banks were hoping supervisors would go further. By Mark Pengelly
European Central Bank’s new discount schedule increases haircuts levied on troublesome collateral, such as asset-backed securities; analysts expect move to discourage pledging of risky assets
Several aspects of Basel counterparty risk charge up for revision, including calibration and index hedges