The municipal bond market in the US is still largely in a state of disarray, well over a year after the collapse of the auction rate securities (ARS) sector, though signs of recovery are visible in the fixed-rated debt market, congressmen have heard.
Mario Nava, head of the financial markets infrastructure unit at the European Commission in Brussels, updates Risk on progress towards central clearing of credit default swaps (CDSs) and the move towards a central trade repository for over-the-counter...
The US government's bank stress tests appear to have been successful in stabilising financial markets, but some market observers believe they are obscuring broader systemic problems and could hamper efforts to deal with toxic assets.
Market volatility across several sectors has dropped back to levels last seen before the collapse of Lehman Brothers in September 2008, lending weight to the belief that the financial markets are on the road to recovery.
The US Federal Reserve will start accepting legacy commercial mortgage-backed securities (CMBS) as collateral under its Term Asset-backed Securities Lending Facility (Talf), as the US commercial real estate market continues to struggle.
Financial authorities in the US and Europe have advocated the introduction of a central trade repository to gather data on the over-the-counter (OTC) derivatives market, but there is concern that multiple repositories could do more harm than good.
The total outstanding notional of over-the-counter (OTC) derivatives contracts fell 13.4% to $592 trillion at the end of December 2008, from $683.7 trillion at the end of June 2008, according to statistics released by the Bank for International Settlements...
The US Financial Accounting Standards Board (FASB) has completed new rules on off-balance-sheet holdings that will compel US companies to consolidate on balance sheet billions of dollars of assets previously kept in special-purpose entities (SPEs).
The Norwegian Ministry of Finance has announced it will sell 12.7 million EUAs this year through Barclays Capital.
Environmental exchange BlueNext has announced that it will form a strategic partnership with financial information provider Markit, to create a range of emission index products.
The Obama Administration has proposed a regulatory framework for all over-the-counter (OTC) derivatives contracts.
The UK Financial Services Authority has fined Morgan Stanley £1.4 million for failing to supervise one of its prop traders, allowing him to mismark a portfolio of illiquid credit products by $120 million last year.
As the Obama administration moves closer to introducing a cap-and-trade system for controlling greenhouse gases, US regulators and other players are preparing for steep growth in the emissions market.
Daily news headlines
Daily news headlines
Interdealer broker Icap has set up an iron ore derivatives broking service based in London.
The oil & gas sector has been severely impacted by the global economic downturn, with new risks for the industry emerging that threaten the near-term survival and prospects of companies, according to a report from accounting firm Ernst & Young.
The Commodity Futures Trading Commission (CFTC) has appointed 11 members to a newly expanded panel established to prepare the government for carbon trading.
The US Treasury called upon Congress yesterday to amend the Commodities Exchange Act (CEA) to compel the "clearing of all standardised over-the-counter derivatives through regulated central counterparties".
UK inflation will drop below the Bank of England's (BoE) 2% target later this year and remain there "for the medium term", the central bank said in its quarterly inflation report, published today.
Ambac reported a massive $1.539 billion mark-to-market gain on credit default swaps (CDSs) in the first quarter – an upswing largely due to its own deteriorating financial condition.
US coal producers Alpha Natural Resources and Foundation Coal Holdings have merged to create the nation's third largest coal producer.
Pennsylvania-based software company SunGard has acquired the ICE Risk commodity trading solution from IntercontinentalExchange (ICE.)
The UK government needs to update its approach to resolving failed investment banks in the wake of the collapse of Lehman Brothers in September last year, according to a Treasury report published today.