Structured products
Tri-party repo push for Europe
Europe's tri-party repo market may be ready to take off, thanks to the combination of tighter credit conditions and the provision under Basel II, the new Accord on bank regulatory capital, for lower charges on collateralised financing.
CME cuts European fees
The Chicago Mercantile Exchange (CME) has slashed transaction fees for all products traded electronically on Globex in Europe, bringing its costs in line with rivals the Chicago Board of Trade (CBOT) and Eurex. However, the cut of 73% to 44 cents, from…
Self-regulation: Speak no evil
In an effort to head off any attempts by regulators to mount Spitzer-style investigations into credit research, banks under the aegis of the BMA are formulating proposals to self-regulate.
Sponsor's article > When is best practice good enough?
A dramatic change in banking regulation has been the move from prescriptive procedures towards 'best practice' risk management. Disagreements about how quickly the new approach can be applied to credit risk is central to arguments about revising Basel II.
OCBC and Deutsche offer $1 billion synthetic CDO
Singapore's Oversea-Chinese Banking Corporation (OCBC) and Deutsche Bank have launched a managed synthetic investment-grade collateralised debt obligation (CDO) transaction worth $1 billion. 'OCBC global investment grade CDO 1' went on sale this week.
EU explores rating agency shake-up
The European parliament may be set to tighten the regulation of credit rating agencies after a paper from the parliament's Committee on Economic and Monetary Affairs emphasised the growing significance of rating agencies in the financial systems and…
FSA issues conglomerates rules, warns of more EU regs to come
The UK's Financial Services Authority's (FSA) new chairman, Callum McCarthy, has warned financial executives about the "severe strains" UK-based financial institutions will face in implementing new regulations from the EU during 2004 and 2006.
Open Platform - Prepare for Even More Scrutiny
As the Attorney General, the SEC and other regulators join forces to oversee the bond market, we may need to police ourselves.
Insurers must do better - FSA
A new study by the UK's Financial Services Authority into risk management at insurance firms concludes that, although practices are improving in general, there is a long way to go before insurers are at the same standard as other types of financial…
Nomura analyst sceptical about Nera's ratings study
Research by National Economic Research Associates' (Nera) economic consulting division comparing different rating agencies' rating processes has been described as "disappointingly inconclusive" by Mark Adelson, a New York-based securitisation and asset…
SEC produces maverick Basel II framework, redefines op risk
Throughout the Basel Accord revision process, US regulators have had a reputation for going their own way on key issues, and the Securities and Exchange Commission (SEC) is no exception.
Nomura analyst sceptical about Nera’s ratings study
Research by National Economic Research Associates' (Nera) economic consulting division comparing different rating agencies’ rating processes has been described as “disappointingly inconclusive” by Mark Adelson, a New York-based securitisation and asset…
US banks increase investments in service and risk management technology, says report
US banks are increasing their spending on service and risk management technology, a new survey by the American Bankers Association (ABA) and TowerGroup has found.
CBOT chief again hits out at Eurex US
Chicago Board of Trade (CBOT) chairman Charles Carey urged the Commodity Futures Trading Commission to conduct a full and careful review of the application by Eurex to establish a US subsidiary yesterday. Carey’s comments are the latest in an ongoing…
A slow recovery
Oil
