Foreign exchange
Congress to hold hearing on the standardised approach for US banks
A congressional notice for a hearing to discuss implementation of Basel II, which will include the controversial request of four of the largest banks in the US to allow the standardised approach, has been issued to the four US regulators.
Bank Islam signs first Islamic rate swap deal with StanChart
Bank Islam Malaysia has completed the world's first Islamic profit rate swap, a three-year 136 million ringgit ($36 million) deal with Standard Chartered Malaysia.
HSBC first on the scene with QDII products in China
HSBC has become the first foreign bank to provide Qualified Domestic Institutional Investor (QDII) products in mainland China. The bank received approval from China’s State Administration of Foreign Exchange (SAFE) for a quota of US$500 million for its…
First non-deliverable RMB rate swap traded
HSBC and Standard Chartered Bank have traded what they believe to be the first renminbi (RMB) non-deliverable interest rate swap transaction. The RMB100 million ($12.5 million) transaction has a three-year tenor and involves Standard Chartered paying a…
I-Flex solutions acquires Mantas
An IT solutions provider to Tier 1 banks has acquired compliance provider Mantas. I-Flex announced the purchase of the Virginia-based company yesterday to further develop its risk and compliance solutions suite.
Dresdner offers Ucits III-compliant volatility tracker funds
Dresdner Bank’s investment banking unit, Dresdner Kleinwort, and its private bank Kleinwort Benson, plan to launch two new equity volatility tracker funds in the next month. The funds will be listed via Dresdner Kleinwort’s Gresham defined funds platform…
Global private equity firms acquire FRS
Two global private equity firms, Kennet Partners and the Carlyle Group have announced the acquisition of regulatory and compliance providers FRS. FRS will continue to provide financial reporting solutions through its suite of applications.
Forex trader faces possible execution
A Vietnamese bank employee faces possible execution in Vietnam after losing some $5.4 million in allegedly unauthorised proprietary trading.
Overview of risk-based supervision in Hong Kong
In its recent report on emerging markets, the Bank for International Settlements provided a summary of the latest efforts of the Hong Kong Monetary Authority (HKMA) to enhance the efficacy of its risk management.
In Brief: Apra amends IFRS guidance
Apra publishes amendments to IFRS
ECAIs fulfil Basel II requirements
Three external credit assessment institutions (ECAIs) have met Basel II requirements and are now eligible to provide ratings for regulatory capital purposes and mapping credit assessment.
Follow up: BIS on emerging economies
In this chapter of the Bank for International Settlements’ recent report on emerging markets, the BIS discusses the changing nature of risks facing banks.
FTSE and DIFX to launch sharia-compliant GCC indexes
Index provider FTSE and the Dubai International Financial Exchange (DIFX) have jointly created two sharia-compliant Gulf Cooperation Council (GCC) country equity indexes for domestic, GCC, and international investors.
Standard Chartered implements software for structured deposits
Standard Chartered Bank is to implement a structured deposits pricing and processing system for its operations in Taiwan, Indonesia, Brunei, Malaysia, Japan and UAE. The bank will link its Premium Currency Investment (PCI) businesses for these countries…
ABA backs use of Basel II standardised approach in US
The American Bankers Association (ABA) says the standardised approach to Basel II should be included as an option for financial services firms in the Notice of Proposed Rulemaking (NPR), and that banks should be granted a choice over which methodology…
SEC and CESR to develop a cross-Atlantic financial reporting plan
A plan to develop financial reporting standards and avoid regulatory conflicts will be implemented immediately by the Securities and Exchange Commission (SEC) and the Committee of European Securities Regulators (CESR), it was announced today.
Goldman Sachs launches first IPD product
Goldman Sachs has launched the first structured product based on the UK Investment Property Databank (IPD).
Family fortunes, spanning the globe
family office investment club
When the medium is the massage
hedge funds and the press
Spreading the risk
Risk Management
Collateral damage
European CLO Market