Commodities
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Split-operations recovery model is in vogue post-September 11
DISASTER RECOVERY
UK insurance op risk rules could be curtailed by EU indecision
FRONT PAGE NEWS
Losses and lawsuits
LOSS DATABASE
India/Pakistan war threat underlines planning need
DISASTER RECOVERY
UK could require more op risk capital from insurance firms from 2004
INSURANCE REGULATION
A slow evolution
Credit risk
Credit Markets Update: Spreads widen on weak earnings and equity news
Most of the activity in the credit derivatives markets was again seen in the volatile telecoms sector, with five-year spreads on UK telco mm02 widening by around 20 basis points to 440bp/460bp following weak earnings results on Tuesday, which caused its…
Nymex sets margins for OTC clearing
The New York Mercantile Exchange (Nymex) has set margins for the 25 over–the-counter derivatives contracts it will be clearing from May 31.
Credit Lyonnais to trade weather risk
Credit Lyonnais has set up a weather derivatives unit, adding to the recent thrust of new entrants into the embryonic market. Peter Brewer, who joins Credit Lyonnais from US energy firm Aquila, will head the London-based weather desk.
JP Morgan Chase may exit European energy business
JP Morgan Chase has lost nine of its energy derivatives traders, fuelling speculation that the US investment bank may close its energy operations, at least in Europe, following widespread cost-cutting and restructuring.
Dexia rolls out SunGard’s BancWare to new offices
Belgium’s Dexia Bank is to extend its use of SunGard's BancWare for interest rate risk management to 14 offices in Belgium, Luxembourg, the Netherlands, Ireland and the US.
UK and Danish greenhouse gas allowance schemes see first swap
Anglo-Dutch energy major Royal Dutch/Shell Group and Danish electricity supplier Elsam completed the first greenhouse gas (GHG) emissions swap between government-backed allowance schemes on May 7.
No “new role” for RCC in Japanese NPL clean-up, claims ING
The decision by Mitsubishi Tokyo Financial (MTFG) to step up its sell-off of bad loans to the Resolution and Collection Corporation (RCC) will have little tangible effect on cleaning up Japanese financial institutions’ burgeoning non-performing loans …
London restaurant buys weather derivatives
A London restaurant that sees fewer customers on cold days is using derivatives to protect against financial loss resulting from unfavourable weather.
FSA retreats on insurer credit risk transfer concerns
The UK’s Financial Services Authority today said it generally has faith in insurers that use credit derivatives as a means for risk transfer. This contradicts previous statements by FSA chairman Howard Davies, who signalled his desire to clamp down on…
Storing up the gains?
Natural gas prices are climbing again, and energy companies are reacting by putting in place new hedges, as Kevin Foster discovers
Gaining an edge from Basel
The recent recommendations of the Basel Committee are set to usher in a period of upheaval for many participants in the banking sector. Standard & Poor’s Anthony Albert looks at how to gain a competitive advantage in credit risk management in the light…
Static data moves forward
Firms tackling high-speed and information-intensive tasks such as straight-through processing or risk management without accurate instrument and counterparty reference data may be taking enormous operational and credit risks. Clive Davidson reports on…
Consolidation fever
Utilities