News
Obama officially names Geithner next US Treasury secretary
US President-elect Barack Obama has officially named Timothy Geithner, president of the Federal Reserve Bank of New York, as his appointee for US Treasury secretary.
Fed opens $800 billion war chest to aid securitisation recovery
The Federal Reserve Bank of New York has unveiled ambitious proposals to purchase up to $800 billion of agency mortgage-backed securities (MBS) and extend credit to holders of cash asset-backed securities (ABS) in an effort to prop up the securitisation…
US government bails out Citigroup
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SuperDerivatives expands into electricity
SuperDerivatives has announced that it has added electricity derivatives to its energy and commodities platform from November 17.
WaMu names new president and CFO
Troubled US savings bank Washington Mutual has made two senior appointments amid restructurings at the firm.
RBS traders join Phoenix
Royal Bank of Scotland's (RBS) head of high yield credit default swap trading Steve James has stepped down in order to join the London office of interdealer broker Phoenix Partners.
CBOE re-elects six board members
Members of the Chicago Board Options Exchange (CBOE) re-elected six incumbent directors to its board on November 20.
Eurozone CDS spreads tighten as US spreads widen
UK and European banks faced declining market sentiment in trading this morning, while the cost of credit protection on US financial institutions rose at the end of last week.
Lehman replaces CEO with restructuring expert
Richard Fuld will step down from his position as chief executive officer of Lehman Brothers at the end of this year, remaining in his role as chairman.
$20 billion bail-out for Citi
The US government has given Citigroup a lifeline via a $20 billion direct capital injection and a guarantee for $306 billion in securities.
Tullett Prebon names Duckworth as COO
London-based interdealer broker Tullett Prebon has appointed Steph Duckworth as chief operating officer.
Dollar Libor shoots up overnight
Overnight dollar lending rates rose today following the news that US banking giant Citi will receive additional government assistance.
Life and pensions sector needs data security investment
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US Treasury secretary Paulson speaks out on international regulatory overhaul
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Australian banks issue Pillar III disclosures
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AML compliance deadline looms
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Soca publishes SAR annual report
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SEC convenes meeting of international regulators
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Dinallo backtracks on regulating CDSs
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Contenders queue up for Tarp funds
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Basel Committee outlines potential changes to Basel II
The Basel Committee on Banking Supervision on November 20 outlined possible changes to the Basel II framework, intended to address "fundamental" weaknesses in regulation, supervision and risk management practices that have been highlighted during the…
China likely to abandon 'through-train' investment scheme, says CBRC's Luo
Chinese regulators and government officials will scale back reform of the country's financial services sector due to deep concerns about the unravelling of the developed world's economies, said a senior China Banking Regulatory Commission (CBRC) official…
Investors approve RBS' £19.7 billion capital raising plan
The Royal Bank of Scotland (RBS) gained overwhelming investor support for raising £19.7 billion in preference shares at an extraordinary general meeting yesterday, in which the chairman apologised for the bank's poor financial performance this year.
Better ERM needed to avert crises, says Fed's Cole
An enterprise risk management (ERM) approach is essential in the current crisis, said Roger Cole, director of banking supervision and regulation at the US Federal Reserve Board, yesterday.