News
Stress testing next on the agenda for Basel Committee
With the need for more qualitative assessments of risk becoming ever more paramount in the wake of the credit crisis, the Basel Committee for Banking Supervision is working on a consultation paper on stress testing.
Strain eases on interbank lending
After a turbulent week, pressure on the interbank lending markets eased today as further injections of liquidity were announced and talks on the US financial rescue package resumed.
FSA issues £1.1 million fine to mortgage lender
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Clients kept in the dark over data breaches, says survey
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APX Group buys Endex
Amsterdam-based exchange operator APX Group has purchased fellow Dutch energy exchange company Endex for an undisclosed fee, and plans to merge the two businesses.
Isda survey points to slowing credit derivatives market
The notional amount of outstanding credit derivatives dropped 12% to $54.6 trillion at the end of June 2008, from $62.2 trillion at the end of 2007, according to the mid-year market survey from the International Swaps and Derivatives Association (Isda).
FBI investigates Lehman, AIG, Fannie and Freddie
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Regulation of CDS market ‘will be counterproductive’
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UK calls for greater global regulation and curbs on executive pay
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MTFs ally to end dependence on LSE data
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Cebs releases market crisis statement
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Paulson pitches rescue deal to House committee
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CDS spreads widen further following bailout delays
Credit default swap (CDS) spreads on financial institutions widened on September 23, as uncertainty grew over the US government’s plans to purchase $700 billion of devalued assets from financial institutions.
EDF to buy British Energy
French utility EDF has agreed to pay £12 billion for nuclear generator British Energy. EDF has also signed a memorandum of understanding with Centrica that will allow the UK utility to take a 25% stake in British Energy for £3 billion.
CFTC to examine crude oil volatility
Record price movements in the price of crude oil earlier this week have drawn further scrutiny from regulators.
Sallie Mae names new chief credit officer
Sallie Mae, the US student loan company, has appointed David West as chief credit officer.
JP Morgan launches mobile forex platform
A new proprietary e-trading platform that allows clients to access real-time executable streaming foreign exchange rates (forex) from their desktops and Blackberry devices was launched on Wednesday by JP Morgan.
Cox calls for CDS controls
Christopher Cox, Chairman of the US Securities and Exchange Commission (SEC), has called for greater regulation of the credit default swaps (CDS) market.
NAB sets up structured products desk in Singapore
National Australia Bank’s investment bank, nabCapital, has hired Peter Zeitsch as a director to build a structured products business in Singapore. He was previously head of correlation trading at Singapore bank DBS.
Restructuring and resignations at Fannie Mae
US housing agency Fannie Mae has undergone significant management changes after going in to conservatorship on September 7.
Paulson Plan dubbed “a necessary evil”
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Markets dip as bailout drags on
The financial markets have reacted negatively as the US government rescue plan for the financial sector makes slow progress through Congress.
New York governor announces CDS regulation
The governor of New York, David Paterson, has declared parts of the credit default swaps (CDS) market will be regulated from January 2009, in an attempt to clamp down on what he described as a major contributor to the emerging crisis on Wall Street.
Nomura acquires Lehman’s Asian and European operations
Following its filing for bankruptcy last weekend, the carving up of Lehman Brothers has continued with Japanese bank Nomura Holdings agreeing to acquire the Wall Street firm’s European and Asia-Pacific franchises.