Structured products
FDIC reports rise in problem banks
There are now 171 banks on the US Federal Deposit Insurance Corporation (FDIC)'s 'problem list', the largest number since 1995, the FDIC revealed yesterday.
Iosco launches task forces to support G-20 aims
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ProShares releases short and leveraged ETFs tracking commodities, Euro and Yen
ProFunds Group, manager of short and leveraged funds, has launched 12 exchange-traded funds (ETF) providing short or leveraged exposure to commodities, the Euro and the Yen. The ETFs tracking broad commodities and crude oil indexes, as well as the ETFs…
MSCI expands Islamic indexes
Index provider MSCI Barra has extended its Islamic indexes family by expanding its Emerging Markets coverage to include Small Cap components and launching a further 16 frontier market country indexes.
FASB to review SPV disclosure
On December 15, the Financial Accounting Standards Board (FASB) will issue amendments to FAS 140 and Fin 46, two accounting rules that deal with the disclosure of off-balance-sheet vehicles.
Fed opens $800 billion war chest to aid securitisation recovery
The Federal Reserve Bank of New York has unveiled ambitious proposals to purchase up to $800 billion of agency mortgage-backed securities (MBS) and extend credit to holders of cash asset-backed securities (ABS) in an effort to prop up the securitisation…
Dow Jones launches Islamic Asean index
Dow Jones Indexes has launched the Dow Jones Islamic Market (DJIM) Asean Index, which is designed to provide exposure to sharia-compliant companies in six of the 10 member states of the Association of Southeast Asian Nations (Asean) including Indonesia,…
NDFA launches latest Growth Kick Out plan
NDFA has released its Growth Kick Out Plan November 08, the 20 th in its series of autocallable products. The six-year plan is linked to the FTSE 100 index, which does not need to rise from its starting level to gain 13% annual growth and a potential 78%…
Final funds hit Germany ahead of tax change implementation
HypoVereinsbank (HVB) has launched its latest Rolling Protect structured fund as the kick-in date approaches to change tax laws in Germany. The Abgeltungssteuer will become effective as of January 2009, placing funds and certificates on an equal footing…
New ETF exposes investors to large-cap television index
Northern Trust has listed a new exchange-traded fund (ETF) on the Arca platform of the New York Stock Exchange (NYSE.) The Nets (Northern Exchange traded shares) fund will track the performance of the FTSE CNBC Global 300 Index, which includes 300 stocks…
Investec unveils fifth series of structured products
Investec Structured Products has released its fifth series, including the latest issue of its accumulation, investment and income plans. The five-year FTSE 100 and RPI Combination Plan 4 offers annual payments equivalent to 7.5% of the initial investment…
Société Générale unveils range of 51 covered warrants
Société Générale has issued 51 covered warrants based on the FTSE 100, FTSE 250 as well as commodities. The range of covered warrants includes 26 focussing on the FTSE 100 and 250 indexes, offering both put and call options with a choice of four maturity…
$20 billion bail-out for Citi
The US government has given Citigroup a lifeline via a $20 billion direct capital injection and a guarantee for $306 billion in securities.
Australian banks issue Pillar III disclosures
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Contenders queue up for Tarp funds
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Better ERM needed to avert crises, says Fed's Cole
An enterprise risk management (ERM) approach is essential in the current crisis, said Roger Cole, director of banking supervision and regulation at the US Federal Reserve Board, yesterday.
Interbank lending remains stable
Interbank confidence stood firm today after a tumultuous day on the world equity markets.
HKMA's Genberg dismisses 'decoupling' theory
The idea that increasing inter-regional trade in Asia could offset the impact of the recessions in the US and Europe - the so-called 'decoupling' theory - is ill-founded, said Hans Genberg, executive director of Hong Kong Monetary Authority (HKMA)…
Demand wanes for central bank liquidity schemes
The appetite among European and US banks to access liquidity schemes provided by central banks has reduced dramatically, according to the latest figures.
Contenders queue up for Tarp funds
An increasing number of organisations are applying for the $250 billion Capital Purchase Program (CPP), part of the US government's $700 billion Troubled Asset Relief Program (Tarp).
Second credit-event auction to be held on LCDS
London-based data provider Markit has announced it will hold a credit-event auction on Ontario-based door manufacturer Masonite International, to settle loan credit default swap (LCDS) trades referencing the company.
Ambac to commute $3.5 billion in CDO exposure
Ambac Financial announced on Wednesday that it has arranged a deal with counterparties to close out exposure to four collateralised debt obligations (CDOs) with a cash settlement of $1 billion.
BNP launches carry trade alternative
BNP Paribas has launched two new FX indexes, Galaxy Alpha and Alpha plus, which aim to offer an alternative to traditional carry trade strategies, which have underperformed over the past year given extreme volatility in FX and interest rate markets.
Executive pay reviewed at Barclays, UBS and Goldman
Barclays, UBS and Goldman Sachs have announced moves to halt bonus payouts for top executives in 2008, as huge subprime losses and writedowns have placed compensation policies under increased scrutiny.