Much awaited parliamentary report singles out seven individuals including Icelandic central bank’s governing board trio as responsible for 2008 collapse of banking sector
New liquidity rules proposed by the UK Financial Services Authority (FSA) will compel banks and lenders to keep a 'liquid assets buffer' of short-term government bonds, which will mean a significant increase in most banks' holdings.
In an auction to cash-settle credit default swaps (CDSs) tied to Icelandic bank Landsbanki, recovery rates on its senior and subordinated debt were set at 1.25% and 0.125% today, respectively.
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A final value of 8.625% was set on the bonds of Lehman Brothers today, in an auction intended to cash-settle credit default swap (CDS) trades linked to the toppled dealer.
The International Swaps and Derivatives Association on Wednesday confirmed that the Icelandic government’s takeover of Landsbanki on October 7 and its acquisition of a 75% stake in Glitnir Bank on September 29 constitute technical credit events.
Credit default swaps (CDSs) on a number of major dealers widened yesterday in spite of the US Senate vote on a revised $700 billion financial rescue plan.