Foreign exchange
Single bank capital accord for all banks is impossible, says Basel Committee chief
CAPE TOWN, SOUTH AFRICA – Differences between banking systems make it impossible to conceive of a single bank protective capital accord that would work for all banks in all countries, the world’s top international banking regulator said today.
ORX loss database operational by the end of the year
FRANKFURT, GERMANY - The Operational Riskdata eXchange Association (ORX), a not-for-profit venture to pool op risk loss data resources, expects its operational risk database to be operating by the end of 2002, Fred Peemoeller, chief risk officer,…
US corporate hedging declines, says AFP
A majority of US corporate respondents to a recent survey by the Maryland-based Association of Finance Professionals (AFP) reported that overall hedging activity has declined, with a third citing derivatives accounting rule FAS 133 as the reason for the…
JP Morgan says downgrade will impact derivatives business
JP Morgan Chase’s credit rating agency downgrades yesterday will affect its derivatives business, the bank told RiskNews at the end of the London trading day today.
Deloitte study finds 25% of financial firms have no risk oversight
More than a quarter of the world's financial institutions - primarily commercial and retail banks and insurers - have no independent risk oversight function, according to a new survey by professional services firm Deloitte & Touche.
Insurers enter the credit derivatives restructuring debate
A group of insurance companies active in the credit derivatives market has submitted a letter to the International Swaps and Derivatives Association suggesting language changes to the trade association’s restructuring definitions. The insurers are…
Single-bank capital accord impossible for all banks, says Basel chief
Differences between banking systems make it impossible to conceive of a single-bank protective capital accord that would work for all banks in all countries, the world’s top international banking regulator said today.
European fund managers seek united voice on EU laws
LONDON – Two leading trade bodies representing European fund managers are looking at ways of providing a united voice on European Union (EU) laws and rules affecting them, including the EU’s third capital adequacy directive or Cad 3.
Deutsche launches Cristals credit index note
Deutsche Bank has launched a five-year index-linked credit note. The underlying index for the new security will be the euro corporates overall index provided by iBoxx – the credit index consortium.
European fund managers seek united voice on EU laws
Two leading trade bodies representing European fund managers are looking at ways of providing a united voice on European Union (EU) laws and rules affecting them, including the EU’s proposed third capital adequacy directive, Cad 3.
SG launches 'gemstone' series in Asia
AA-rated Lyxor Asset Management, the Luxembourg-based 'fund factory' of French bank SG that offers credit-enhanced management of funds, has introduced the first of its 'gemstone' series of funds in Hong Kong, called Sapphire Guaranteed Fund.
More information on credit risk transfer needed, says IMF’s Häusler
Gerd Häusler, director of the international capital markets department at the International Monetary Fund (IMF), today highlighted that too little is known about where credit risk ultimately resides in the financial system.
More information on credit risk transfer needed, says IMF’s Häusler
Gerd Häusler, director of the international capital markets department at the International Monetary Fund (IMF), today highlighted that too little is known about where credit risk ultimately resides in the financial system.
iBoxx to launch new European bond market ‘liquid indices’
IBoxx, a joint venture between seven investment banks and Deutsche Börse set up to create bond indexes, will introduce 25 ‘liquid indices’ in October. These will form the basis for exchange-traded and over-the-counter derivatives, as well as exchange…
CSFB reorganises derivatives structuring teams in Asia
Credit Suisse First Boston (CSFB) has reorganised its derivatives structuring teams in Asia in an effort to more closely integrate all areas of the business. As part of the move, the various derivatives structuring groups will now report to a single head…
Pondering structural change
Alternative investing systems
Value and growth in a global context
Portfolio risk
Dry market in need of liquidity
Weather-linked notes
Icap, Reuters sell their stakes in Blackbird
UK inter-dealer broker Icap and information company Reuters have sold their minority stakes in Charlotte, North Carolina-based electronic inter-dealer broker Blackbird. The development effectively ends 18 months of bitter dispute between Icap and…
Correlation and credit risk
Active development of full credit portfolio modelling continues apace, even though it is not recognised in the proposed Basel II framework.
Banks go live on CLS
Continuous Linked Settlement (CLS) - the long-awaited industry initiative to cut settlement risk for foreign exchange - will go live today.
Buy-side demands unmet, says survey
Buy-side foreign exchange clients want better service and communication from their sell-side counterparts, according to a survey made public last week.