News
Industry bodies release G20 regulatory reform paper
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UK FSA will assess TCF in Arrow visits
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Paulson: buying MBSs no longer Tarp priority
Treasury secretary Hank Paulson closed the door to systematic US government purchases of illiquid mortgage-backed securities under its $700 billion Troubled Asset Relief Programme (Tarp), during a briefing in Washington, DC today.
US home loan modification scheme unveiled
In an effort to halt home foreclosures, the Federal Housing Finance Agency (FHFA), in conjunction with Fannie Mae and Freddie Mac, unveiled a programme to ease payment terms for hundreds of thousands of US mortgage holders on Tuesday.
Morgan Stanley back trading in Platts oil window
Platts has confirmed that Morgan Stanley has resumed trading in its Asia oil window for the first time since September, indicating that credit issues surrounding the bank, and the wider markets, may be improving.
CFTC’s Lukken calls for new financial regulation in US
Walter Lukken, acting chairman of the Commodities Futures Trading Commission (CFTC), called for the US to scrap current regulatory systems in favour of a new objectives-based framework, in a speech to the Futures Industry Association on November 11.
EC outlines proposal to regulate rating agencies
The European Commission (EC) today outlined a formal proposal to regulate credit rating agencies, which it hopes will improve the quality of ratings, restore investor confidence and reduce the conflicts of interest “inherent to the ratings business”.
UK Libor unmoved by recession news
The Bank of England (BoE)'s predictions of continued economic downturn failed to move the sterling interbank markets today.
European CDSs continue to climb
The cost of credit protection on European banks increased in early trading today, while market sentiment towards US financial institutions remained favourable.
Fannie Mae and AIG pummelled in Q3
This week, both Fannie Mae and AIG reported steep losses in the third quarter of this year.
UK sets up financial industry think-tanks
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Misys launches proactive risk monitoring system
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Vattenfall to build offshore wind farm in UK, joins forces with ScottishPower
Swedish power company Vattenfall has acquired UK wind farm Thanet Offshore Wind and has joined forces with ScottishPower for Crown Estate’s Round Three of tender bids to develop offshore wind power in the UK.
Trading goes live at South Pool
Trading at the South Pool regional energy exchange, a joint-venture between Slovenian power market operator Borzen and Eurex, began today.
EC derivatives working group meets to overhaul OTC markets
The European Commission’s working group on derivatives, established on October 22, held its first meeting in Brussels last week.
HSBC Q3 profits up on Q3 2007
HSBC's third-quarter profits rose this year, despite a $271 million loss on its US operations and a total of $7.9 billion in writedowns.
UK CDSs rise
The cost of credit protection on European banks widened today while market sentiment towards US financial institutions improved.
Lukken calls for regulatory overhaul as he prepares to step down
Walter Lukken, acting chairman of the US Commodity Futures Trading Commission, today called for new oversight arrangements and defended the independence of the CFTC, in one of his last speeches before he leaves his post in January.
Markets indifferent to Amex conversion as auto-maker bail-out looms
Credit spreads on American Express debt narrowed marginally yesterday while equity prices hit a new low as US markets were largely unmoved by news of the credit card company’s conversion into a bank holding company.
Hong Kong's SFC puts structured product approvals on ice
Hong Kong’s Securities and Futures Commission (SFC) has delayed approvals of structured product issues for retail distribution following protests from Hong Kong investors that have lost money from the blow-up of so-called minibond structured credit…
DME to list products on CME Globex
The Dubai Mercantile Exchange (DME) has announced plans to list its contracts exclusively on the Chicago Mercantile Exchange (CME) Globex platform.
Exelon bid rejected
NRG Energy has rejected Exelon Corporation’s unsolicited merger offer made on 19 October 2008, claiming it “significantly undervalues” the firm.
Icap releases guidance on OTC markets
The future course of the over-the-counter derivatives markets will depend on the simplification and overhaul of existing infrastructure so that it becomes more transparent, Risk heard at an Icap press briefing this morning.
CDS spreads fall this morning
The cost of credit protection on European banks tightened in early trading today after reaching a peak on Friday, as quarterly profits plummeted.