News
COE discussions herald onshore structured products market in Brazil
Stepping onshore
FSB: risk managers should advise on compensation
FSB remuneration guidelines suggest all firms should have risk management executives on compensation committee
FSB warns members not to misinterpret G-20 commitments
The FSB warns that some regulations appear to be contrary to the spirit of the OTC derivatives reforms agreed by G-20 members – a statement some believe was prompted by a disagreement over the scope of European derivatives regulation
Video: Banks can arbitrage central bank liquidity provision
A conflict between new liquidity regulations under Basel III and existing central bank operations leaves a gap that banks may be able to exploit, warns financial stability expert
Australian banks still face liquidity challenges, FSB peer review finds
A Financial Stability Board peer review finds the Australian financial system remains strong but banks face Basel III liquidity and wholesale funding challenges
European bank spreads decline amid talk of recapitalisation plans
Risk perceptions on European banks fall as Merkel and Sarkozy agree to produce a recapitalisation plan within the month
Regulators failing to take the lead on operational risk, says new survey
Few regulators are taking operational risk seriously, says Mike Finlay, chief executive of RiskBusiness
IMF modelling work on liquidity risk points to capital hike, says Jobst
Recent analysis by the International Monetary Fund indicates that banks in the US need to raise capital to cover systemic liquidity risk threats
Clearing of Chilean NDFs hampered by netting uncertainty
The Central Bank of Chile has the authority to stop financial institutions netting down their transactions, which participants fear might prevent central counterparties from being able to clear contracts denominated in the Chilean peso
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