Structured products
$9.2 billion derivatives losses for US banks in Q4
US commercial banks reported $9.2 billion in derivatives trading losses during the fourth quarter of 2008, bringing total trading losses in 2008 to $836 million, according to a quarterly report by the Office of the Comptroller of the Currency (OCC). This…
Shanghai steel futures begin trading
The Shanghai Futures Exchange launched trading in steel futures on March 26 to modest success, with a wide range of trading houses supporting the new contracts, traders and analysts said.
Shanghai steel futures shine on first day of trading
The Shanghai Futures Exchange launched trading in steel futures on March 26 to modest success, with a wide range of trading houses supporting the new contracts, traders and analysts said. The two new contracts are the seventh and eighth products to be…
CDSs on banks under UK asset protection programme widen
The cost of credit protection on UK banks rose marginally this morning. As the deadline of March 31 for UK banks to sign up to the government's asset protection programme approaches, banks already participating in the scheme saw their CDSs widen the most.
CDS: Spreads on US financials widen
Credit default swap 5-year mid-levels for structured products issuers (Thursday March 26)
US Wrap: Multiple issuers pile into S&P 500 exposure
Thirteen products have been offered by eight different issuers in the US structured products market over the past two days. Out of this offering, 10 have been linked to the S&P 500 index, including a range-bound structure from Morgan Stanley. The 100%…
CDS: European banks widen
Credit default swap 5-year mid-levels for structured products issuers (Wednesday March 25)
CDSs referencing US banks widen
The cost of credit protection on US banks continued to rise yesterday, following Treasury secretary Timothy Geithner announcing a plan to relieve US banks of toxic assets on March 23. Some analysts believe Geithner's plan still lacks detail, particularly…
Banks suffer from stricter ratings criteria
Banks may be the latest victims of a continuing drive by rating agencies to impose harsher tests on highly-rated structured finance products, analysts said.
Geithner: US will "force all standardised OTC derivatives into central clearing"
The US Treasury will seek to fully regulate over-the-counter derivatives, secure the registration of large hedge funds with federal authorities and push ahead with plans to create a new systemic super regulator, Treasury secretary Timothy Geithner has…
MSCI launches factor indexes
Index provider MSCI Barra has launched the MSCI Europe Momentum Tilt Index and the Europe Value Tilt Index, which are designed to be weighted towards stocks that are exposed to fundamental factors. The indexes are designed to be licensed as the basis of…
Moody's: FGIC unable to meet payments
Moody's has warned that monoline insurer FGIC might not be able to meet its payments on the subprime-linked assets it has insured.
CDS: Spreads on banks stable, Stanchart moves below 300bp
Credit default swap 5-year mid-levels for structured products issuers (Tuesday March 24)
Banks win slack from FASB on fair value
The Financial Accounting Standards Board (FASB) has proposed amendments to fair-value accounting, which would allow financial institutions employing internal models to valuate assets and liabilities in illiquid markets.
EPA finding could trigger GHG regulation
The US Government is reviewing a proposed finding submitted last week by the Environmental Protection Agency (EPA) concerning the dangers posed to public health by greenhouse gas emissions.
Geithner to announce illiquid asset repurchase programme
Daily news headlines
CDS: Banks narrow after US treasury reveals public-private programme
Credit default swap 5-year mid-levels for structured products issuers (Monday March 23)