News
Citi creates retail structured products group
Citi has formed a global retail structured products group and appointed Richard Burns, previously head of equities structured products, to lead it.
MBIA results mask wider malaise
MBIA, the Armonk, New York-based monoline insurer, has reported net profits of $1.7 billion for the second quarter of 2008, compared with $211.8 million over the same period last year.
UBS commits to $18.6 billion ARS buyback
UBS has joined Citi and Merrill Lynch in agreeing to buy back auction rate securities (ARS) at par, in an offer that could affect up to $18.6 billion in securities over the next two years.
Limited oil and gas resources seen as biggest risk for NOCs
Limited oil and gas resources were identified as the highest risk issue for national oil companies (NOCs), according to a survey of NOCs by risk advisory firm Marsh.
Merrill and Citi to repurchase ARS after New York applies pressure
Citi and Merrill Lynch have agreed to repurchase billions of dollars worth of illiquid auction rate securities (ARS) being held by retail customers after threats of legal action from New York attorney general Andrew Cuomo.
China makes a move on Basel II implementation
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IT weakness might have allowed Countrywide security breach
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Companies not prepared for data leaks
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FSA suffers ratings blow as Ambac regroups
Standard & Poor's has announced a negative outlook for the AAA rating of Financial Security Assurance (FSA), the New York-based monoline insurance company that is part of the Dexia Group.
CEBS amends consultation practices
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Liquidity risk is the ultimate operational risk
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EU regulation will restrict financial services growth
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CRMPG calls for daily counterparty risk reports
Broker-dealers should monitor their institutional counterparty risk exposure on a daily basis, the latest report from the Counterparty Risk Management Policy Group (CRMPG) has recommended.
Carbon market associations join forces
A merger between the Carbon Markets Association (CMA) and International Carbon Investors (ICI) has brought together sixty banks, law firms and service providers that work within the carbon market, including Barclays Capital, JP Morgan and RBS Sempra.
No changes to Libor, says BBA
The British Bankers' Association has ruled out major changes to its Libor fixing, despite criticism earlier this year that the widely used interbank rate had become unreliable.
Complexity and hidden risk caused the crash, says BIS
The Bank for International Settlements (BIS) blames the credit crisis on a failure to understand the risks involved in complex credit risk transfer structures set up earlier this decade, in a report published this month.
SEC fills commissioner positions
Troy Paredes and Luis Aguilar have joined the US Securities and Exchange Commission (SEC) as commissioners.