Structured products
Keydata sale expected this week, says insolvency administrator
Keydaya Investment Services will be sold as a going concern this week, according to PricewaterhouseCoopers, the company's insolvency administrator. In the interim, the Defined Income Plan Issue Keydata launched hours before the UK Financial Services…
CDS: Spreads widen on credit quality fears
Credit default swap 5-year mid-levels for structured products issuers (June 15)
S&P launches a new version of GSCI index
Standard and Poors (S&P) has launched a new version of its GSCI commodity market index.
EEEM sees rising returns thanks to climate change investment
Energy efficiency and energy management (EEEM) received over $184billion of climate change stimulus funds and saw the strongest returns, rising 16% year to date, of the four climate sectors outlined in the latest quarterly review of the HSBC Climate…
CDS: Spreads widen for second day
Credit default swap 5-year mid-levels for structured products issuers (June 12)
US Wrap: Providers opt for external credit
Providers were looking to independent credit agencies to issue structured products as the US structured products market hit mid-week. Both Goldman Sachs and Morgan Stanley teamed up with Eksportfinans to issue their latest products, which included an…
World Bank: recession will be deeper than expected
The worldwide recession will be far more severe than originally thought, with the global economy set to shrink 3% this year, warned World Bank president Robert Zoellick yesterday.
DOE moves forward on CCS
The US Department of Energy has announced plans to advance the construction of the first commercial scale, fully integrated US carbon capture and sequestration (CCS) project.
Risk management awareness improves, but budgets static
Daily news headlines
Geithner: US Treasury 'will not cap pay'
Daily news headlines
CDS: Spreads widen; eyeing Treasury yields
Credit default swap 5-year mid-levels for structured products issuers (June 10)
CDS: Spreads narrow on renewed risk appetite
Credit default swap 5-year mid-levels for structured products issuers (June 10)
US Wrap: RBC turns Japanese on long-term note
Royal Bank of Canada has launched a new principal protected note linked to three indexes, including the Nikkei 225 Japanese equity benchmark. The structure lasts six-and-a-half years and also links to the S&P 500 and Dow Jones Euro Stoxx, with equal…
Lobby urges Geithner to delay consolidation rules
The US Financial Accounting Standards Board (FASB) is facing resistance to its plans to force banks to account for their links to off-balance-sheet vehicles, which could require them to raise billions more in Tier I capital.
US Congress: Banks may need more stress tests
A Congressional report into the stress tests imposed by the US Treasury on leading US banks earlier this year has warned that the stress scenarios used might have been too mild, and that the tests may have to be repeated later this year.
Deposits turn to rates and inflation in US
Rates and inflation-linked certificates of deposit are being launched by US providers as sales of the government-backed investments continue to be robust. Wells Fargo, HSBC and JP Morgan are all offering structures which expose investors to changes in…
NDFA throws its hat in the ring for Keydata
Around an hour after Jubilee Financial Products made public its interest in buying Keydata Investment Services, which was declared insolvent by the UK Financial Services Authority yesterday morning, NDFA has declared its interest in buying the UK…
Jubilee asks after Keydata Investment Services
Jubilee Financial Products has approached Keydata Investment Services, through its insolvency administrator PricewaterhouseCoopers (PwC), with an expression of interest to buy the company.
US Wrap: Gas and gold in reverse convertibles
Barclays Bank has issued a reverse convertible note offering exposure to the US Natural Gas Fund, which tracks the movements of natural gas prices. The note lasts one year and pays an annualised coupon of 20%. It will convert into stock if the fund slips…
Swiss trade body unveils product risk classifications
The Swiss Structured Products Association is to launch a new online risk classification system for all listed structured products in Switzerland from the beginning of July. Products will now receive an SSPA risk rating based on the value at risk of the…
CDS: Spreads narrow on improved sentiment
Credit default swap 5-year mid-levels for structured products issuers (June 9)
Deloitte survey finds risk management weaknesses
Despite the credit crisis, financial institutions are still showing risk management weaknesses in areas such as stress testing and model validation, according to an annual risk management survey conducted by Deloitte.
Banks repay $68bn in Tarp funds to US Treasury
Ten of the largest US financial institutions that have received public funds under the Troubled Assets Relief Program (Tarp) scheme are to pay back $68 billion after they were approved to reimburse the funds to the federal government yesterday.
Industry opposes mandatory clearing
Compulsory central clearing is not a one-stop solution to the problems of the derivatives markets, and could end up crippling the industry, warned speakers at an industry event in London on Tuesday.