News
EBA stress test: €3.4 billion error in BPCE's derivatives exposure to France
Owner of Natixis overstated derivatives exposure to France by €3.4 billion after mixing up notional and mark-to-market numbers
Lloyds and RBS CDS spreads steady despite downgrade
The decision by Moody’s to downgrade Lloyds and RBS fails to spark surge in CDS spreads, while other European banks finish more or less unchanged on the week despite continuing woes in the eurozone
Eurozone crisis boosts September spot volumes
Falling confidence in the eurozone and the flight to and from commodities-based currencies has resulted in record volumes, platforms report
New York sues BNY Mellon for foreign exchange fraud
Federal authorities in New York have filed two separate suits accusing BNY Mellon of foreign exchange fraud, following cases brought by other states
Pension schemes urged to reduce risk as Bank of England confirms QE 2
Funds should consider interest rate protection if low growth environment persists
Industry underestimating risk of cybercrime, forum hears
Survey results show infosecurity is a low concern, but industry expert says otherwise
Trichet bows out with new bond purchase scheme
Jean-Claude Trichet unveils a new covered bond purchase scheme; ECB governing council also agreed to hold interest rates and support Jörg Asmussen for governing council post
Non-execs do not understand consequences of Solvency II reporting, FSA warns
Head of prudential insurance policy also warns of potential widespread ignorance of Solvency II among analysts
EIB to sell 300 million carbon units
European Investment Bank plans to sell 300 million EU carbon allowances
BoE injects £75 billion to save stalling economy
Bank of England Monetary Policy Committee votes for further round of quantitative easing; increases size of asset purchase programme to £275 billion
Former hedge fund manager settles charges in Galleon insider-trading case
Former hedge fund manager Steven Fortuna will pay $300,000 to settle charges in the Galleon Management insider-trading case
Including global airlines in EU emissions scheme is legal, says EU court
Preliminary opinion of advocate-general says that US and Asian airlines cannot opt out of EU emissions trading next year
Update: Bouhara and Gouws out, Gudka also resigns as UBS cleans house
Dismissals are "a sign something was seriously wrong", says former senior UBS employee as bank admits operational and risk failings
Bank pension schemes compromised by Vickers report
The UK's Independent Commission on Banking proposals could have unintended consequences for financial services pension schemes
BlackRock: More reforms needed for ETFs, beyond just transparency
Statement is beginning of "a series of recommendations" from BlackRock on ETF market, says iShares head of sales
NIBC appoints new chief risk officer
Dutch bank NIBC appoints Petra van Hoeken as chief risk officer
US regulators ask DOE lab to study flash-crash forecasting tool
US regulators enlist Department of Energy computing power to analyse metric that aims to predict catastrophic market events
Allianz CRO: Industry and regulators 'in denial' over solvency levels
Allianz's Tom Wilson warns liquidity premium in discount rates is disguising effect of current market turmoil on life insurance balance sheets
Solvency II delay does not mean insurers can relax, says Montalvo
A delay to Solvency II implementation does not mean insurance firms can put preparations on hold, says Eiopa executive director
Solvency II modelling could cause systemic risk, industry warns
Industry experts warn uniform modelling under Solvency II could lead to risk contagion
Solvency II causing uncertainty for risk managers
Call for lobbying push on details of new regulations
Risk managers have been falling behind, forum hears
Risks have overtaken risk managers in the past 10 years, according to speakers and delegates at the Ferma forum
Financial Stability Board finalises Sifi measures
FSB settles on plan to tackle the 'too big to fail' problems posed by systemically important financial institutions; measures will be sent to G-20 summit in November
Delayed Basel trading book review will be broad, say supervisors
Basel Committee is expected to consider wide range of topics, including VAR, liquidity, CVA and the line between banking and trading books - but overall capital requirements are not likely to change