News
Bank of Korea to invest in renminbi in 2012
Head of reserve management Heung Sik Choo confirms Bank of Korea will make first investments in Chinese renminbi this year
Dealers draw up contract for covered bond CDSs
Credit Suisse, Deutsche Bank and JP Morgan expect demand for spread volatility protection on covered bonds
Deleveraging fears overdone, says EBA chairman
Enria defends EBA's 9% capital buffer in New York speech
European appetite for volatility ETFs blossoms
Inflows into volatility ETFs in Europe have spurred the launch of new products to satisfy investor interest in this asset class
Currency floor breach raises questions over SNB policy
The Swiss National Bank should consider enlisting the help of top-tier banks to keep EUR/CHF above 1.20, forex traders suggest
Michael Cosgrove to leave GFI Group
GFI Group has announced the departure of energy and commodities broking veteran Michael Cosgrove
China raises QFII quota by $50bn to $80bn
Chinese authorities more than double the investment quota available to approved foreign institutional investors wanting to invest directly into China’s restricted financial markets
Possible Delta Air Lines refinery acquisition raises eyebrows
Analysts have been stunned by reports that Delta Air Lines is considering the purchase of an idled ConocoPhillips refinery on the US east coast. The unprecedented deal would provide Delta with an in-house source of jet fuel, but the problems inherent in…
New regulations could cause $7 trillion "collateral shock"
Trio of rules - on liquidity, clearing and margin for uncleared trades - will hoover up vast amounts of collateral, market participants fear
Sigtarp appoints special inspector general
Christy Romero appointed after approval from President and Senate
Buoyant structured products market in Nordics sees more banks listing in the region
The appeal for soft protection and ways to boost the upside remains strong in the Nordic region, with more banks issuing or listing products, including bull-and-bear certificates with a leverage of five for the first time in Sweden
Regulatory differences could be behind RWA inconsistency, report suggests
Initial findings of a review led by the European Banking Federation suggests differences in regulatory regimes could be behind a divergence in RWA numbers
People: Bänziger leaves Deutsche as Fan, Faissola take new roles
Deutsche's Bänziger to go, while Fan becomes securities co-head; BoE's Tucker gets CPSS role; Ashley shakes things up at Nomura; unhappy Goldman trader adopts scorched earth policy
Firms need to improve card security measures, say experts
With fraudsters becoming more sophisticated, companies that handle payment card data cannot simply rely on minimum industry security standards, say experts
Italy could face more swap terminations
Italian politicians claim Morgan Stanley's swap termination in January will be a one-off - but dealers say Italy's debt office is subject to other clauses that could have the same effect
Questions raised over FSA twin peaks structure
FSA begins its ‘twin peaks’ approach, but some participants say questions remain over how the new structure will work
Trading positions - April 2012
Energy Risk catches up with the latest appointments, promotions and departures in global commodity markets
SIG to keep an open mind on RWA probe, says Himino
The Basel Committee’s standards implementation group has begun an investigation into RWA consistency, but chair Ryozo Himino says there might be good reasons for discrepancies
New longevity indexes ‘a step forward’ in developing tradable market but challenges remain
New longevity indexes ‘a step forward’ in developing market but challenges remain
Majority of fund selectors use ETFs as tactical investments
More than half of UK wealth managers and global fund selectors use ETFs to gain tactical exposure to certain markets, according to new survey
Ultra long-dated UK gilts could provide data to value long-term liabilities
Ultra long-dated UK gilts could provide data to value long-term liabilities
Basel 2.5 caused €200 billion jump in RWAs
European banks saw their RWAs leap at the turn of the year, as new trading book rules collided with the EBA's call to achieve a 9% capital minimum
EC data reinforces oversupply in carbon market
According to data published by the European Commission, the European Union Emissions Trading Scheme was oversupplied with allowances in 2011
Liquidity swap activity will be driven by bank funding needs, say bankers
Banks’ long-term funding needs will drive demand for liquidity swaps with insurers