Structured products
Trésor unlikely to resume swaps programme in near future
The French debt management agency, the Agence France Trésor, will not resume its swaps programme in the current market conditions, said Sylvain de Forges, the agency's Paris-based chief executive.
Job moves
People
FASB unlikely to delay FIN 46, says CSFB
The US Financial Accounting Standards Board (FASB) is unlikely to delay the introduction of financial interpretation number 46 (FIN 46), the consolidation of variable interest entities (VIEs), according to the accounting and tax research team at Credit…
FASB unlikely to delay FIN 46, says CSFB
The US Financial Accounting Standards Board (FASB) is unlikely to delay the introduction of financial interpretation number 46 (FIN 46), the consolidation of variable interest entities (VIEs), according to the accounting and tax research team at Credit…
BNP Paribas beats SG for ZCM assets
French bank BNP Paribas has entered the final stages of negotiations to purchase about 140 structured transactions linked to funds investments from Zurich Capital Markets (ZCM), a division of Swiss insurer Zurich Financial.
India allows foreign currency rupee options
Foreign currency rupee options have finally become reality in India, with the Reserve Bank of India (RBI) allowing plain vanilla currency options trading to commence today.
Energy firms turn to credit derivatives market
More energy companies are likely to start purchasing credit derivatives as a way of mitigating counterparty credit risk, analysts said at a conference in New York this week. This is partly because spreads on single-name credit default swaps (CDS) of…
Citi contemplating US credit derivatives index
Citigroup is contemplating launching a US credit derivatives index product, according to Doug Warren, managing director for North American credit derivatives, and intends to make a decision on this within the next two to three weeks.
Credit risk models enhance link between credit and equity prices, say BIS
The growing use of credit risk models is helping to strengthen the link between credit and equity prices, said the Bank for International Settlements (BIS).
Bear Stearns adds CDO evaluator to Pacre
Bear Stearns has added a high-yield collateralised debt obligation (CDO) pricing model to its price-adjusted credit risk evaluator (Pacre) product. The model is designed to calculate credit-adjusted spreads on individual CDO tranches.
Questions of error
Consider the following two, difficult, questions. How should a financial institution allocate capital to different businesses? How should a financial institution be valued? The first question is a subject for the senior management of an institution. But…
Revealed: Goldman Sachs’ mega-deal for Greece
Greece uses swaps to hit EU debt ratios
Overcoming the hurdle
How should capital be allocated to different business lines in a financial institution? Thomas Wilson explores this question from an investor’s perspective by constructing a statistical model that measures the risk of individual business types. The…
Lessons in loaning
Lenders and borrowers alike are becoming ever more innovative at a worrying time for energy company financing. But will the new ideas catch on? Paul Lyon reports
Getting to grips with fair value
Derivatives accounting
Dashed hopes
CFOs
Staying away in droves
Credit
Veolia Environnement’s risk revolution
Profile: Veolia
Diversify and conquer
Profile: General Electric
Structurally sound
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