News
Encouraging US data helps CDSs on European banks narrow
Five-year senior credit default swap (CDS) spreads referencing European banks narrowed this morning. With JP Morgan announcing a first-quarter profit of $2.1 billion, market participants hoped for more encouraging news from the US.
CEBS seeks views on op risk mitigation
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OTCGH launches NGL and product options brokerage
OTC Global Holdings (OTCGH), an independent over-the-counter (OTC) interdealer broker, has announced the formation of Ion Energy Group, a natural gas liquids and product options brokerage.
CIBC names Rule head of forex trading
CIBC has appointed Duncan Rule as head of foreign exchange trading, effective from April 27.
CDSs on European banks widen
The cost of credit protection on European banks increased this morning, as UBS predicted a first-quarter 2009 loss of Sfr2 billion.
HKMA ring-fenced assets before Lehman collapse
The Hong Kong Monetary Authority (HKMA) had identified 19 foreign banks whose financial health could have had a negative impact on the Hong Kong banking system before the collapse of Lehman Brothers in September last year.
UBS continues losing streak into Q1
UBS will make a SFr2 billion ($1.75 billion) loss for the first quarter of 2009, the firm's chief executive, Oswald Grübel, predicted at the bank's annual general meeting in Zurich on April 15.
Automated FoHF reporting system aids operational risk analysis
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Ice clears $71 billion of CDSs
Atlanta-based derivatives exchange IntercontinentalExchange (Ice) has cleared $71 billion notional in credit default swaps (CDS) in the four weeks since the launch of its central clearing platform. The exchange cleared 613 transactions and reported open…
CDSs on European financials tighten
The cost of credit protection on European banks decreased this morning, after Goldman Sachs reported a first-quarter net profit of $1.81 billion yesterday.
Cebs releases consultation on risk management guidelines
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UAE enforces tighter capital adequacy rules
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New York Fed and Bernanke release TALF Responses
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Volatility puts credit investors on the defensive
Investors are gravitating towards safe haven sectors such as utilities and telecoms as credit fundamentals on non-cyclicals continue to deteriorate
SEC aims to close the Gaap by prolonging consultation period on accounting rules
The extra 60 days for public comment on the amalgamation of US and international accounting standards does not signify a stalling of the process, says a financial accounting chief
Ukraine heads list of riskiest sovereign issuers
Central Asian and South American countries dominate the league table of sovereign issuers with the highest risk debt, while northern European nations - plus the US - are among the safest