Structured products
Market uncertain over oil price direction
Analysts at investment banks are divided in their views over the average price of crude oil for the rest of 2009 and into 2010.
Leverage ratios are "counterproductive", says IIF
In a new report on how to strengthen financial regulation, the Institute of International Finance (IIF) has proposed some measures directly at odds with options currently being explored by regulators in both Europe and the US.
Capital protection and equities to lead US demand, Barclays Capital
Structured investments in the US are set to outpace the overall growth of other investments over the next two years, according to a survey of financial intermediaries, including wealth managers and broker dealers with US$6 trillion assets under…
Regulators and banks reach buyback agreement on Minibonds
The Hong Kong Monetary Authority (HKMA) and Securities and Futures Commission (SFC) have finally reached an agreement with 16 banks that distributed Minibonds, including ABN Amro and the Bank of China, to repurchase the Lehman Brothers-backed products…
RBC Wealth Management adds Afzal for structured notes
Wasim Afzal has joined RBC Wealth Management as manager to its structured notes and fixed income, advisory team. Afzal will be responsible for developing the structured notes offering for its high net worth (HNW) and ultra HNW clients
SIM takes from Barclays Capital for team expansion
Structured Investment Management (SIM) in New York has made three new hires in an expansion of its team. The new appointments include Mark Graham as executive vice-president of structured finance, who was previously head of corporate solutions and hybrid…
US Wrap: Reverse convertible market drills down to oil stocks
Reverse convertibles dominated yesterday's issuance in the US market, representing 10 of the 13 new structures issued. Two of the new notes offer exposure to oil - one through offshore drilling company Transocean, and the other through Interoil. The…
CFTC sets dates for position limits hearings
The Commodity Futures Trading Commission (CFTC) will hold the first of three open hearings to discuss energy position limits and hedge exemptions on July 28, 2009.
Q2 profits a false dawn for banks, Moody's says
Rising funding costs, continuing writedowns and the withdrawal of government support could push the global banking industry back into crisis, analysts warned this week.
US Talf helps CMBS market recover
The Federal Reserve Bank of New York's Term Asset-Backed Securities Loan Facility (Talf) is helping to revive the commercial mortgage-backed securities (CMBS) market, analysts have concluded, although the chances for residential mortgages to be included…
Source adds three to bolster European presence
Source, the exchange-traded product (ETP) distributor, has made three new hires to its European sales team as part of its expansion effort. The open architecture provider has ensnared individuals from Lyxor Asset Management, ETF Securities and Unicredit…
US Wrap: Return to reverse convertibles at week open
The US market has sprung back to life after dwindling to a near standstill towards the end of last week, with 22 new reverse convertible structures launching into the market.
Tarp supervisor finds Treasury's oversight is still inadequate
The US Treasury is still failing to protect its aid to US banks from fraud and misuse, according to the latest report from the special inspector general for the Troubled Assets Relief Program (Sigtarp).
Deutsche Bank lists hedge fund and carbon ETFs on LSE
Deutsche Bank has listed its hedge fund exchange-traded fund on the London Stock Exchange. The listing of the Ucits III compliant ETF, based on the db Hedge Fund Index, which follows the launch of a euro-hedge version on the Xetra Frankfurt in March, is…
Direxion continues leveraged trend with real estate ETFs
Direxion has launched two new exchange-traded funds (ETFs) which give three times leveraged exposure to the MSCI US Real Estate Index. The Direxion Daily Real Estate Bull 3x Shares offers 300% of the daily upside performance of the index, whereas the…
Ambank launches new ‘recovery’ themed plan
AmIslamic Bank has launched a new themed structured deposit, which aims to make money as the global economy recovers.
Tarp inspector general calls for more clarity on banks' use of funds
The US Treasury's special inspector general for the Troubled Assets Relief Program (Tarp), Neil Barofsky, has called on the Treasury to force banks to report their use of the Tarp's bailout funds. But the Treasury is reluctant to do so.
Trading and one-off gains lift bank profits
Trading activities and one-off gains helped US banks record positive results during the week ending July 17, despite a continuing deterioration in traditional lending businesses, analysts said.
US Wrap: Week of activity closes with quiet spell
The US market has enjoyed a relatively busy period which has tailed off as the week draws to a close. Forty-four products have been launched over the past seven days, including one day of bumper reverse convertible issuance when ABN Amro unveiled 19 of…
Race against the clock for European CDS CCPs
With just two weeks remaining until the European Commission’s deadline for central counterparties (CCPs) to begin clearing credit default swaps (CDSs), two of the competing platforms are still waiting for regulatory approval.
Société Générale launches new listed income product
Société Générale has issued a new listed plan, which guarantees to pay an income higher than a traditional savings account. The FTSE Income Protection 3000, which is listed on the London Stock Exchange, provides investors with a fixed income of £17, or 1…
CDS: Spreads tighten for second day
Credit default swap 5-year mid-levels for structured products issuers (July 16)
CDS: Spreads tighten on positive earnings news
Credit default swap 5-year mid-levels for structured products issuers (July 15)
EC continues tough stance on securitisation
In its latest round of proposals for modifications to the Capital Requirements Directive (CRD), the European Commission has confirmed its intention to assign higher capital requirements to re-securitisations and to enhance disclosure requirements for…