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Dealing with the flak
With the final Basel Accord proposals due to be published later this year, the Bank of International Settlements’ new Asian head, Shinichi Yoshikuni, does not have much time to settle into his new role, writes Nick Sawyer.
Weary recognition of gross income as Basel II op risk measure
LONDON - There was "weary recognition" among bankers that the use of gross income as a measure of operational risk was the least bad approach, said Richard Metcalfe, co-head of the European office of the International Swaps and Derivatives Association …
UK regulators ponder op risk charge for insurers
LONDON -- British regulators are deciding whether to impose a specific capital charge on insurance companies for operational risk under new risk-based rules aimed at making the UK insurance industry safer.
High-yield bonanza
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Auto-destruct?
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Who’s afraid of M&S?
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Icap launches reset risk competitor to Switchfix
Interest rate swap trading desks now have an alternative method of eliminating reset risk, courtesy of a new online matching system developed by Icap, the UK interdealer broker, called Fra-Cross.
SG equity derivatives team unaffected by Asia restructuring
SG Securities Asia’s (SGSA), the Asian equities arm of French bank Société Générale, said plans to realign its operations in Asia – ex-Japan and Australia – will not affect its equity derivatives team, according to a spokesperson in Hong Kong. The bank…
Japan resumes NPLs reduction drive
The Resolution and Collection Corporation (RCC), entrusted by the Japanese government to help reduce Japanese banks’ major non-performing loan (NPL) problems, has concluded its first securitisation deal this year. An RCC spokesperson said the transaction…
Oldest US exchange looks to energy futures
Merchants Exchange, the oldest commodity exchange in the US, plans to offer energy futures contracts for the first time. The move follows an increase in demand for cleared contracts following the bankruptcy of Enron, although Merchants Exchange said it…
Directors divided on audit reform
US corporate directors want more transparency in the reporting of derivatives positions, but are divided over how best to monitor external auditing in the wake of Enron’s fall, according to a survey conducted by the National Association of Corporate…
CBOT launches X-Funds
The Chicago Board of Trade (CBOT) today launched X-Funds, short-duration futures contracts that track the performance of a professionally selected index.
ABN and Rabobank unveil new hires
Rabobank International, the international arm of Dutch co-operative bank Rabobank, has made Rutger Schellens head of financial markets activities, including capital markets, treasury and investment books businesses.