News
CAP details expose transatlantic split on capital
Today's news that the US Treasury and other regulators may compel US banks to raise capital levels puts them even more at odds with UK and European overseers, who have downplayed the need for more capital in recent weeks.
Vattenfall to buy Nuon's production & supply business
Swedish energy company Vattenfall has made an all cash offer of €8.5 billion for 100% of the shares of Dutch company Nuon's production & supply business. Nuon's grid company is not involved in the transaction.
Enel to acquire Endesa for €11.1 billion
Italy's largest power company Enel has signed an €11.1 billion agreement with Spanish development company Acciona, for its 25.01% stake in Spanish power company Endesa.
Trichet: Eurozone CCP will help improve oversight
European Central Bank president Jean-Claude Trichet backed a central counterparty (CCP) for clearing credit default swap (CDS) trades in the eurozone today, in a speech that also called for banker compensation to be linked to avoiding excessive leverage.
Renaissance Re replaces CRO
Bermuda-based reinsurer Renaissance Re has promoted Ian Branagan, its previous head of risk modelling, to chief risk officer.
LSE may join LCH.Clearnet bid consortium
The London Stock Exchange (LSE) today confirmed that it is "looking closely" at joining the consortium of financial institutions bidding for London-based clearing house LCH.Clearnet.
Confidence in European insurers drops
The cost of credit protection on the subordinated debt of European financial institutions rocketed in early trading today, with insurers hit particularly hard.
Insurers eye up op risk expertise at banks
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BSI releases industry IT resilience standards
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Markit addresses documentation risk
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Banks agree to EU CCP for clearing CDS
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Crunch time for Solvency II
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More MCAs needed to meet equity derivatives targets
Participants in the equity derivatives market say a significant amount of work remains to be done on standardising documentation before it can meet regulators' electronic processing targets for over-the-counter trades.
Standard Chartered boosts currency team
Standard Chartered Bank has appointed Felipe De Freitas as head trader in charge of Latin American foreign exchange options.
Financial CDSs widen worldwide
Fading investor confidence in the stability of financial institutions has caused the cost of credit protection on banks across the globe to increase over the past 24 hours.
WTC bomb prosecutor to lead SEC enforcement
The US Securities and Exchange Commission (SEC) has named Robert Khuzami, the former federal prosecutor who brought the case against the 1993 World Trade Center bombers, as its new director of enforcement.
More ARS writedowns still to come
At least 184 auction-rate securities (ARS) holders are continuing to mark their notes to par almost a year on from the implosion of the $330 billion market - meaning further writedowns are inevitable, a new report has concluded.
UBS credit derivatives head departs
The head of credit derivatives for UBS, Keith Grimaldi, has left the bank.
Isda adds buy-side members to board for first time
The International Swaps and Derivatives Association has elected three buy-side members to its board for the first time in the organisation's history.
Banks agree to EU CCP for clearing CDS
Nine major dealers agreed to use an EU central counterparty (CCP) for clearing trades in credit default swaps (CDSs) today, paving the way for talks to resume with the European Commission.
Bank of Japan steps up support for corporates
The Bank of Japan has expanded its programme of supporting corporate debt, in an attempt to shore up the country's rapidly contracting economy.
JI finally accredits first third party verifier
The Kyoto Protocol's Joint Implementation (JI) mechanism has accredited its first third party verifier, TÜV SÜD Industrie Service, almost ten years after the UN-backed carbon offsetting mechanism was first agreed upon.
CDSs on Fortis tighten
The cost of credit protection on Dutch and Belgian bank Fortis narrowed this morning, after Fortis chairman Jozef de Mey and BNP Paribas chief executive Baudoin Prot told media the takeover deal between the two banks is still alive.
Auction fixes low recovery rates for Smurfit-Stone CDS
At an auction held today, data vendor Markit and broker Creditex determined final settlement values for credit derivatives trades referencing St Louis- and Chicago-based paper-packaging company Smurfit-Stone Container.