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Basel II: Time to prepare
Basel Accord
Fed's Ferguson says Basel II will apply to 20 US banks
The number of US banks expected to implement Basel II is now likely to be twice the number unveiled to a stunned international banking community during Congressional testimony in February, Roger Ferguson, vice-chairman of the US Federal Reserve, has told…
Fed’s Ferguson says Basel II will apply to 20 US banks
The number of US banks expected to implement Basel II is now likely to be twice the number unveiled to a stunned international banking community during Congressional testimony in February, Roger Ferguson, vice-chairman of the US Federal Reserve, has told…
Reuters FX under threat
Reuters is fighting back to secure its position in FX, following the announcement of an alliance between two rivals, reports Risk's sister publication FX Week .
Industry moves to appease investor credit conflicts of interest concerns
A group of leading trade associations today released a draft of “principles and recommendations” regarding the correct set-up of Chinese Walls within the credit divisions of US financial institutions. The move follows criticism from investors – notably…
CFTC moves to force Platts to divulge trade data documents
The US Commodity Futures Trading Commission (CFTC) has filed an application to enforce compliance with two document subpoenas issued to global publisher McGraw-Hill Companies, as part of its ongoing investigation of corrupt energy trading practices. The…
UBS signs up to Mark-it credit pricing service
UBS Warburg has become the latest bank to feed credit price information into UK-based Mark-it Partners' credit database. In return, it will receive quorum price information for cash and derivatives credit instruments based on information provided by a…
US Congress tries to tame Basel II
Members of the US House of Representatives have proposed a bill that would place Congress firmly in control of the nation's Basel II debate.
Corporate Actions: Anxiety and Curiosity Around DTCC's New Hub
The DTCC's initiative to stake a greater claim to the corporate action space presents stiff competition or new opportunity, depending on the perspective.
Sponsor's article > Is 8% for all seasons?
Considering the potential pro-cyclical impact of Basel II and the limited effectiveness of countervailing influences, David Rowe concludes that making the 8% ratio of capital-to-risk-adjusted-assets a discretionary policy variable should be part of the…
Citi has war chest but high standards, CFO says
Citigroup has “stored excess capital” to allow it to make acquisitions during periods when price-earnings multiples in the financial services industry are depressed, as is currently the case, according to Todd Thomson, chief financial officer at the New…
The consulting conundrum
Gone are the Y2K days, when consultancies could exploit their strong positions and bill their clients big money for questionable services. The roles have been reversed for financial services firms, and consultancies are having to back up their ‘smoke and…
Ferc calls for risk manager vigilance
William Hederman, director of the office of market oversight and investigations (OMOI) at the US Federal Energy Regulatory Commission (Ferc), today urged energy risk managers to alert his office to any suspicious market practices.
Exceptional Rates of Failure
With industry exception rates so high that the word exception is hardly appropriate, some firms are taking drastic steps. Among them: demanding that partners meet minimum standards to continue getting business.
ABN Amro delves into global OTC oil and gas derivatives
Dutch bank ABN Amro has started to offer its clients oil and gas hedging services, as part of its financial markets business, which incorporates debt capital markets, structured lending and risk management activities.
New CDO issuance picked up in April, says Goldman
The collateralised debt obligation (CDO) market witnessed a turnaround in new issuance in April, according to research from Goldman Sachs in New York. But the year-to-date new issue of CDOs in the US and European markets is still down by more 20% and 50%…
Emerging markets credit derivatives index debuts
JP Morgan Chase has begun formally showing prices on its Emerging Markets Derivative Index (EMDI) – a tradable portfolio of five-year credit default swaps (CDS).
Tremont Advisers pushes new fund of hedge funds benchmark
Tremont Advisers, a fund of hedge funds with more than $8 billion in assets under management, based in Rye, New York, is proposing a new fund-of-hedge-fund performance benchmark comprising a blend of 70% three-month Libor and 30% S&P 500. If it catches…
Reference Data's Dirty Little Secret
It turns out reference data standards will make it easier for customers to switch data vendors. There are growing whispers about how positively vendors will view that.
Congress demands ratings report from SEC after no-show at hearings
WASHINGTON, DC - The chairman of a House of Representatives subcommittee that held early April hearings titled "Rating the rating agencies: the state of transparency and competition," sent a strongly-worded letter to the chairman of the Securities and…
RBS selects Algo credit to manage global wholesale credit limits
Royal Bank of Scotland (RBS) has selected Algo Credit to manage its global limits and exposures management from Algorithmics, the Toronto-based provider of risk management software.