Structured products
Stopping the rot
Noises from leading banks that they may be returning to profitability are failing to mask the painful truth that vast quantities of toxic assets are still causing a stink on banks' balance sheets. Credit looks at the various plans being put forward to…
FDIC extension gives breathing space to banks
The difficulties banks are facing in borrowing capital are ample justification for extending the TLGP scheme, say observers. Indeed, there are calls for the scheme to become more permanent
Put spreads play part in the taming of the skew
The recent popularity of put spreads and put-spread collars has helped push down volatility skew to record lows on global equity indexes, according to dealers.
CDS: Spreads on US banks narrow
Credit default swap 5-year mid-levels for structured products issuers (Wednesday April 8)
Blue Sky offers choice of wrappers
Blue Sky Asset Management has launched two new growth plans with different wrappers providing exposure to the FTSE 100 index.
Vanguard shuns US equity in small-cap ETF
Vanguard has listed a new exchange-traded fund (ETF) on the Arca platform of the New York Stock Exchange linked to international small-cap equities. The fund tracks the performance of the FTSE All World Ex-US Small Cap Index.
CDS: Spreads widen on European banks
Credit default swap 5-year mid-levels for structured products issuers (Tuesday April 7)
Regulators square up to leverage ratio challenge
Bank supervisors are increasingly advocating the introduction of a gross leverage ratio as a restriction on the growth of assets relative to capital, but the biggest challenge will be to create an internationally consistent measure under diverse…
Talf requests plunge $3bn to $1.7bn in latest funding round
Demand for loans under the US Treasury's Term Asset-Backed Securities Loan Facility (Talf) has dropped precipitously since the scheme opened in March.
US Wrap: Reverse convertibles dominant product in Monday’s market
Reverse convertible structures represented half of new issuance in the US yesterday, just outnumbering accelerated growth products. ABN Amro issued four of the notes, and Royal Bank of Canada (RBC) contributed a single note to the offering. Both…
BNP Paribas announces two Tie Breaks
BNP Paribas has launched two new capital guaranteed funds for French retail investors, Tie Break 3 and Tie Break 5. The funds' return is linked to the performance of the DJ Eurostoxx 50, and targets bullish views on the European stock market.
CDS: European financials continue to narrow, Credit Suisse at 169.66bp
Credit default swap 5-year mid-levels for structured products issuers (Monday April 6)
CDS 'big bang' could see 18% increase in tear-ups, Markit says
Changes to credit default swap (CDS) contracts due to come into force on April 7 could result in an upturn in trade-compression activity, according to market information provider Markit.
Concerns over political influence overshadow FASB's changes to fair value
US auditors and investors are concerned that accounting standards are being dictated by politicians rather than independent standard setters.
JP Morgan debuts Alerian note using Bear licence
JP Morgan has launched a new exchange-traded note (ETN) linked to the Alerian MLP (master limited partnerships) Index. The bank acquired rights to the index following its purchase of ailing US investment house Bear Stearns 12 months ago, which previously…
CDS: Spreads tighten on European banks
Credit default swap 5-year mid-levels for structured products issuers (Friday April 3)
Cowperthwaite departs Credit Suisse Asia-Pacific
Adam Cowperthwaite, Asia-Pacific head of structured retail products at Credit Suisse in Hong Kong, has left the bank and will take a six-month break from the business. Cowperthwaite and other members of Credit Suisse's equity derivatives team leave the…
BNP Paribas appoints Blotto
BNP Paribas Corporate & Investment Banking has appointed Stefano Blotto to the Institutional relationship management team for European coverage of institutional accounts. Blotto is based in London and reports to Talbot Stark, global relationship manager…
US Wrap: Credit Suisse is lone presence in Friday’s market
Credit Suisse was the only issuer in the US structured products market on Friday, in a quiet close to a relatively active week. The bank issued three products, all linked to the S&P 500; two accelerated growth and one autocallable structure. The kick-out…
Fed in $287bn currency swap with central banks
Four central banks, including the European Central Bank (ECB) and the Bank of England (BoE), have agreed further reciprocal foreign currency swap arrangements with the Federal Reserve to provide more US dollar funds to firms in participating nations as…
CME acquires hurricane index
CME Group has acquired the Carvill Hurricane Index from Carvill America Inc. and renamed it the CME Hurricane Index.