Credit markets
CDS: Spreads widen on European and US banks, Citi trading at 565bp
Credit default swap 5-year mid-levels for structured products issuers (Thursday March 5)
Confidence in European insurers drops
The cost of credit protection on the subordinated debt of European insurers rocketed in early trading today.
Isda to publish auction settlement supplement
Daily news headlines
CDS: Bank of America leads widening on US banks
Credit default swap 5-year mid-levels for structured products issuers (Wednesday March 4)
Fed approval leaves Ice/TCC on brink of CDS clearing
Intercontinental Exchange's (Ice) application to become a member of the Federal Reserve System has been approved by the US central bank, overcoming one of the final obstacles preventing the firm from launching its central clearing platform for credit…
CDS spreads narrow on financials
European financials faced improved market sentiment in early trading today, with the cost of credit protection falling on France's three biggest banks.
CDS: No let up for US banks as widening continues
Credit default swap 5-year mid-levels for structured products issuers (Tuesday March 3)
Isda to publish auction settlement supplement, launches close-out protocol
The International Swaps and Derivatives Association will publish its auction settlement supplement and open the Protocol on March 12.
Mixed morning for financials in CDS market
Financials faced mixed market sentiment in early trading today, with the cost of credit protection rising on European banks but falling on US firms.
AIG dismantled risk controls on CDS portfolio, says Greenberg
American International Group Financial Products (AIGFP) dismantled existing risk management controls around its credit default swap (CDS) portfolio following the ousting of Hank Greenberg, the former chief executive has alleged in a new lawsuit.
CDS: Bank of America widens by more than 5%, other US banks stable
Credit default swap 5-year mid-levels for structured products issuers (Friday February 27)
CDS: US banks gap out, led by Citi
Credit default swap 5-year mid-levels for structured products issuers (Monday March 2)
US to restructure AIG bailout after $61.7 billion Q4 loss
Marking the largest corporate quarterly loss in US history, today AIG reported that it lost $61.7 billion in the fourth quarter of 2008. It blamed disruption in the credit markets, particularly within its commercial mortgage-backed securities (CMBS)…
Lehman likely to recoup value of derivatives trades
Counterparties to derivatives trades with Lehman Brothers that are currently in-the-money for the bankrupt estate will not be able to hold off payment indefinitely, predict lawyers.
Eastern European CDSs move out
The cost of credit protection on the sovereign debt of several eastern European states rose in early trading today, despite a €24.5 billion aid package for the region's ailing financial sector promised on Friday by three international multilateral…
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Credit ratings
ASF 2009 highlights challenges for securitisation market
The annual conference for securitisation professionals, held in Las Vegas, showed that the industry is under no illusions about the difficulties it is currently going through, but that there is a collective will to turn the situation round. Mark Kahn of…
Crunch time for autos
The world's carmakers are battling for survival. Should bondholders shun the sector or is there value in the firms best placed to beat the recession? Nikki Marmery reports
ASF 2009 highlights challenges for securitisation market
The annual conference for securitisation professionals, held in Las Vegas, showed that the industry is under no illusions about the difficulties it is currently going through, but that there is a collective will to turn the situation round. Mark Kahn of…
Swap shop
The International Swaps and Derivatives Association, under its chief executive Bob Pickel (right), is the trade body for dealers of, amongst other things, credit derivatives. As such, Pickel and his members are at the centre of a storm raging around the…
Dealers and regulators: Who will blink first?
High noon for CDS Clearing
What to do with the toxic debt
The issue of how to tackle the vast quantities of impaired assets lingering on banks' balance sheets has given rise to several possible solutions, chief among which is the notion of a 'bad bank'. Credit asks five market participants how such a scheme…