News
BoE stability chief: Financial network needs 'rethinking'
The growth of complexity and widespread pursuit of similar products and strategies has created a fragile financial network in need of reform, according to a senior Bank of England (BoE) official.
CDSs on Chinese financials tighten on positive corporate results
The cost of credit protection on Chinese banks fell this morning as a series of positive results for Chinese corporates boosted the Shanghai Composite Index 2.78% and Hong Kong's Hang Seng Index 2.76% in overnight trading.
Record fall in cross-border claims
Cross-border claims at the major banks fell a record 5.4% in the last three months of 2008, according to figures released today by the Bank for International Settlements (BIS).
Study: pension funds should amend ALM risk models
European pension funds would experience greater stability if regulators amended asset liability management (ALM) rules to permit short-term risk taking using internal risk management models, a new paper argues.
Smaller funds lack op risk reserves, says survey
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SEC to host roundtable on short-selling regulation
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Bair: FDIC needs power to take over non-bank institutions
The Federal Deposit Insurance Corporation (FDIC) should have "resolution power" over non-bank financial companies as well as banks, FDIC chairman Sheila Bair told a New York audience yesterday.
Dong extends offshore UK wind investment
Denmark based Dong Energy has announced that it will build a second offshore wind farm in the Irish Sea as part of a €1.3 million (US$ 1.7 million) investment plan.
Total bid for UTS fails
French energy company Total has announced the expiry and termination of its offer to acquire UTS Energy for C$1.75 cash per share.
Deutsche Bank moves into profit
Deutsche Bank reported pre-tax profits of €1.8 billion for the first quarter, clawing its way back from a catastrophic €6.2 billion pre-tax loss in Q4 of 2008.
CDSs on Australian financials widen
As National Australia Bank - Australia's largest bank by assets -predicted a grim economic outlook for the country, the cost of credit protection on Australian financials rose this morning.
Kjaer joins RiskMetrics as president
Knut Kjaer, former chief executive of Norges Bank Investment Management - a division of the Norwegian central bank that oversees the $370 billion Government Pension Fund of Norway and the country's foreign reserves - has been appointed president of New…
Westgate president charged with $150m investment fraud
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Hedge fund op risk due diligence practice launched
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Pandemic risk: UK expects swine flu cases
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BCBS releases valuation and leverage report
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RBS fails to provide pay information
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Turner condemns 'rent seeking' banks
Adair Turner, chairman of the UK Financial Services Authority, has accused banks of using financial innovation "to extract economic rents rather than deliver services of real value to the real economy", and called for higher capital levels and…
FSF: Valuation techniques and leverage aggravate pro-cyclicality
Regulators should address the pro-cyclical effects of market-sensitive valuation practices and increasing leverage, according to the Financial Stability Forum (FSF).
ICE launches 20 OTC cleared oil contracts
IntercontinentalExchange (ICE) has introduced 20 new cleared OTC oil contracts, which will be available for clearing from May 18, 2009.
UK commodity fund opens Denver office
UK headquartered Ebullio Capital Management has opened an office in Denver, Colorado, to service demand from US investors for its commodity hedge fund.
Carbon trading volumes up but market value down in 2009
Trading volumes in the global carbon market grew by 37% in the first quarter of 2009, compared to quarter four of 2008, according to New Carbon Finance.
Brokerage launches online catastrophe price index
Willis Re, the reinsurance arm of global broker Willis Group Holdings, and Thomson Reuters have today launched the Willis Re Catastrophe Price Index.
CDSs on airlines widen on swine flu fears
The cost of credit protection on major airlines increased this morning, as fears mounted that tourism would decline due to the swine flu outbreak in Mexico.