News
Hedge funds agree to more regulation of their industry
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Paulson: buying MBSs no longer Tarp priority
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Risk management code for hedge fund managers proposed by institute
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EC outlines proposal to regulate rating agencies
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Constellation closes credit facility
Constellation Energy has closed on a $1.23bn 364-day credit facility with UBS Loan Finance and RBS Securities Corporation.
Commodities will boom despite downturn, says Jim Rogers
Commodities will be the only market safe from the economic downturn, according to investment guru Jim Rogers.
Freddie Mac posts heavy losses in Q3
Battered by the ailing residential real estate market, Freddie Mac reported a $25.3 billion loss in the third quarter of 2008 and requested a $13.8 billion capital injection from the US Treasury.
Dollar Libor and Ted climb again
Dollar Libor and the Ted spread, which tracks the difference between three-month dollar Libor and Treasury bills, were up today as confidence in the US interbank lending market dipped again.
Business leaders want a tighter rein on banks
Tighter regulations on banks, hedge funds and rating agencies would be supported by most business leaders around the world, a survey found this week.
CDS spreads widen on UK banks
The cost of credit protection on UK banks continued to increase today, while US and European financial institutions faced mixed market sentiment.
Banks fear an increase in financial crime
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Outstanding notional on CDSs drops for first time
The Bank for International Settlements (BIS) today released statistics for the over-the-counter derivatives market, which revealed that, although the overall market continues to grow, the outstanding notional on credit default swaps has declined.
Investors hope end in sight for Canadian ABCP restructuring
Retail investors in distressed Canadian non-bank asset-backed commercial paper (ABCP) expect to find out in the next two weeks whether further delays are expected to a restructuring plan.
Powernext gas futures to launch on November 26
Powernext has announced that it will launch natural gas spot and futures contracts for the French market on November 26.
Trafigura secures $200mn credit facility
Commodity trader Trafigura has today announced the closing of a $200 million syndicated revolving credit facility, which will serve as a refinancing of an existing one year $175 million facility implemented in 2007.
Markit names risk management head
London-based data provider Markit has appointed Sal Naro as global co-head of equities, commodities and risk management.
Dollar Libor up after Tarp priorities change
Dollar Libor was up today following US Treasury secretary Hank Paulson's admission yesterday that the Troubled Asset Relief Programme (Tarp) will not be used to buy illiquid mortgage-backed securities.
European and US CDS spreads widen
The cost of credit protection on European banks continued to increase in early trading today, as market sentiment towards US financial institutions began to decline.
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.