News
US regulators propose standards to give securitisers skin in the game
Regulators release risk retention rule; publish a specific loan-to-value ratio for those mortgages that will be exempted
Prop traders switching to Hong Kong hedge funds boost industry
Proprietary traders moving from banks to Hong Kong hedge funds has helped the industry turn a corner, say hedge fund market participants, and an SFC hedge fund report indicates the industry is bouncing back in Asia.
Polish OTC clearer aims for 2012 launch as Europe fragments
Another central counterparty plans to launch in Europe, starting with zloty-denominated interest rate swaps
Tepco spreads tighten as nationalisation rumours grow
Credit default spreads narrow on Fukushima plant operator and Japanese sovereign while BP widens on manslaughter charge reports
CFTC urged to raise bar for CCP stress tests
Market participants say CFTC proposals should be more detailed, more prescriptive
'Media misinformation' is harming US structured products industry
A torrent of misinformation printed by the media and calls from plaintiff law firms for investors to bring claims is damaging the industry, according to structured product bankers and lawyers
Periphery and inflation offer headaches for Eurozone – Credit Institute panel
Participants on a Credit Institute panel debate held in London argued that peripheral funding and inflation are the major challenges for the Eurozone
Conflicting interests at heart of Eurozone crisis, say Credit Institute panellists
Marrying the needs of strong core and weak periphery is far from straightforward, said panellists at latest Credit Institute event
Time runs out for position limits comments
CFTC’s latest position limits plan attracts thousands of comments; opinion deeply divided; new commissioner to affect final vote
Deutsche Bank and PowerShares list first ETNs linked to foreign sovereign bond futures
Deutsche Bank and PowerShares list first ETNs linked to foreign sovereign bond futures
HKMA’s Yuen urges banks to take action now on Basel III LCR; warns of negative impact for corporate debt markets
Banks should begin preparing in earnest to meet the Basel III liquidity requirements as regulators begin the process of supervising banks’ compliance with the new rules, according to the deputy chief executive of the HKMA.
Morgan Stanley names Christianson and Strong co-CEOs Asia-Pacific
Morgan Stanley has named Wei Sun Christianson and William Strong as co-heads of Asia to replace outgoing Owen Thomas.
CDS spreads widen on Tokyo Electric Power Company
Ongoing radiation risk at Fukushima nuclear plant pushes up risk perceptions on Japanese power company
BoJ’s Miyao pledges continuity of settlements system during planned blackouts
Bank of Japan Policy Board member Ryuzo Miyao says in-house power generation at central bank branches would support settlements systems ahead of planned power shortages
EU Council leans towards special treatment for FX
Industry's concerns starting to be reflected in legislation proposals
CDS spreads on Japanese financials stabilise after earthquake
Risk perceptions start to steady on banks and insurance companies as Japan counts economic cost of natural disaster
Global events fail to rock dispersion trades
Recent global events have not dented the popularity of dispersion trades among hedge funds, claim bankers
Yen interbank funding market calm as government bond yields retrace
The reduced scale of hedge fund carry trade activities compared with previous crises such as the collapse of Lehman Brothers in 2008 has reined in potential increases in the yen libor rate and short-end JGBs.
HSBC names Conxicoeur global head of insurance at asset management arm
HSBC Global Asset Management has named Patrice Conxicoeur as global head of insurance coverage, and Julie Koo as head of institutional business Asia-Pacific. The moves come as part of a wider reorganisation of the unit.
Further uncertainty for US carbon trading
Californian carbon cap-and-trade scheme suffers legal set-back on road to 2012 start date
Sigor chair warns rising op risk losses not reflected in capital
Head of Basel op risk subcommittee notes rising losses in 2008 and 2009 compared with minimal capital growth
Portuguese CDS spreads climb after austerity measures voted down
The EU prepares itself for another sovereign bail-out after Portuguese parliament rejects tax rises and budget cuts
Prudential’s Thiam sees Asian infrastructure deals as ALM panacea; 340,000 Asia sales force 'completely insufficient'
Increasing numbers of infrastructure deals in Asian markets may help insurers meet their long-term liabilities, according to Prudential’s group chief executive.
OpRisk North America: Dodd-Frank clouds Basel III implementation
Requirement to remove credit ratings causing a headache for regulators