News
US energy firms relieved about CFTC’s ‘swap dealer’ definition; public utilities concerned
Many US energy companies breathed a sigh of relief on Wednesday after the Commodities Futures Trading Commission (CFTC) voted to narrow the definition of a 'swap dealer'. In a long-awaited decision, the agency dramatically raised the threshold for how…
BoE's Tucker: FPC capital powers 'won't be popular'
Attendees at ACT conference raise concerns about increased lending costs after Bank of England’s Tucker argues for powers to raise sectoral capital levels
Use of PIT model neutralises impact of counter-cyclical capital buffer
Banks using a PIT model instead of a TTC model may receive a capital saving for the Basel III counter-cyclical capital buffer but such an approach might not be viewed as within the spirit of the rules by regulators
White House seeks tools to fight ‘excessive’ oil speculation
On Tuesday, US President Barack Obama launched a new initiative aimed at curbing speculation in energy markets, arguing that it would help ease the pain of high gasoline prices. He urged Congress to give the US Commodities Futures Trading Commission …
CPSS-Iosco lifts cloud on forex options clearing
CCPs do not have to guarantee settlement, CPSS-Iosco rules - but issue could still have some way to run
Van Eck launches Fallen Angels ETF amid increased demand for high-yield corporate debt
A new Market Vectors ETF from Van Eck is the latest in a busy period of corporate bond fund launches, highlighting continued demand for high-yield products
Volcker compliance-responsibility aspect splits legal opinion
Volcker rule requirements for chief executive compliance responsibility called into question
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