Foreign exchange
QFII redemptions rise as crisis spreads
Concern over the health of financial markets has led to "a lot of redemptions" from qualified foreign institutional investor (QFII) bond funds, despite their strong performance versus other China-Hong Kong investment schemes, according to Andrew Fung,…
ECB no longer accepts syndicated loans as collateral
The European Central Bank (ECB) has removed syndicated loans governed by English law from its list of collateral eligible for its credit operations only four days after they were originally accepted.
Treasury urged to sell £100 billion in RMBS guarantees
A senior advisor to the Chancellor has called for the UK Treasury to guarantee £100 billion in residential mortgage-backed securities (RMBS) over the next two years in order to revitalise the UK mortgage market.
US government still has room to manoeuvre, analysts say
The US government's move to rescue beleaguered banking giant Citigroup will not impair its ability to bail out other banks.
Iosco to tackle trading abuses
The International Organisation of Securities Commissions (Iosco) will crack down on "trading abuses", according to technical committee chairman Christopher Cox.
FDIC reports rise in problem banks
There are now 171 banks on the US Federal Deposit Insurance Corporation (FDIC)'s 'problem list', the largest number since 1995, the FDIC revealed yesterday.
China slashes interest rates
China has taken further action to stimulate its economy, with the central bank cutting its one-year lending rate by 108 basis points to 5.58% and the deposit rate by the same amount to 2.52%.
UK eschews Basel II capital requirements
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Iosco launches task forces to support G-20 aims
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ProShares releases short and leveraged ETFs tracking commodities, Euro and Yen
ProFunds Group, manager of short and leveraged funds, has launched 12 exchange-traded funds (ETF) providing short or leveraged exposure to commodities, the Euro and the Yen. The ETFs tracking broad commodities and crude oil indexes, as well as the ETFs…
Fed opens $800 billion war chest to aid securitisation recovery
The Federal Reserve Bank of New York has unveiled ambitious proposals to purchase up to $800 billion of agency mortgage-backed securities (MBS) and extend credit to holders of cash asset-backed securities (ABS) in an effort to prop up the securitisation…
New ETF exposes investors to large-cap television index
Northern Trust has listed a new exchange-traded fund (ETF) on the Arca platform of the New York Stock Exchange (NYSE.) The Nets (Northern Exchange traded shares) fund will track the performance of the FTSE CNBC Global 300 Index, which includes 300 stocks…
SuperDerivatives expands into electricity
SuperDerivatives has announced that it has added electricity derivatives to its energy and commodities platform from November 17.
$20 billion bail-out for Citi
The US government has given Citigroup a lifeline via a $20 billion direct capital injection and a guarantee for $306 billion in securities.
US Treasury secretary Paulson speaks out on international regulatory overhaul
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AML compliance deadline looms
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Op risk management at a crossroads
Editor's blog
Dinallo backtracks on regulating CDSs
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Contenders queue up for Tarp funds
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Basel Committee outlines potential changes to Basel II
The Basel Committee on Banking Supervision on November 20 outlined possible changes to the Basel II framework, intended to address "fundamental" weaknesses in regulation, supervision and risk management practices that have been highlighted during the…
China likely to abandon 'through-train' investment scheme, says CBRC's Luo
Chinese regulators and government officials will scale back reform of the country's financial services sector due to deep concerns about the unravelling of the developed world's economies, said a senior China Banking Regulatory Commission (CBRC) official…
Investors approve RBS' £19.7 billion capital raising plan
The Royal Bank of Scotland (RBS) gained overwhelming investor support for raising £19.7 billion in preference shares at an extraordinary general meeting yesterday, in which the chairman apologised for the bank's poor financial performance this year.
Better ERM needed to avert crises, says Fed's Cole
An enterprise risk management (ERM) approach is essential in the current crisis, said Roger Cole, director of banking supervision and regulation at the US Federal Reserve Board, yesterday.
Interbank lending remains stable
Interbank confidence stood firm today after a tumultuous day on the world equity markets.