News
Q&A: Regulator calls for greater insurance against liquidity risk
Arthur Angulo, senior vice-president of banking supervision at the Federal Reserve Bank of New York and co-chair of the Basel Committee on Banking Supervision’s Working Group on Liquidity, talks to Risk about recent initiatives to improve liquidity risk…
US mortgage lender closes doors after capital warning
Indymac Bancorp, one of the largest mortgage providers in the US, closed its doors to new business and announced deep job cuts yesterday, blaming the continuing crisis in the mortgage-backed securities market.
New credit heads at GFI
Credit derivatives brokerage GFI has named two new senior managers at its New York office.
Quant Congress: Gaussian copula "failing dramatically" in pricing CDOs
Gaussian copula distribution models are an overly simplistic and inadequate means of valuing tranches of collateralised debt obligations (CDOs) and other structured products, warned a senior quant yesterday.
Financial turmoil reports issued by the CGFS
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SEC streamlines rules for self-regulation
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McCreevy vows to regulate credit rating agencies
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Rahul Sen to join BlackRock in Singapore
Rahul Sen, previously first vice-president of home loans risk management at Washington Mutual in Seattle, is moving to join asset manager BlackRock in Singapore.
New lobby group to defend securitisation markets
As pressure for reform in the securitisation market grows, three regional industry lobbying groups - the American Securitisation Forum (ASF), the European Securitisation Forum (ESF) and the Securities Industry and Futures Markets Association (Sifma) -…
New York Fed appoints Krieger to lead new credit risk management group
The Federal Reserve Bank of New York has created a new payments policy and credit risk management group. The bank has appointed Sandra Krieger to lead it, and she will also become a member of the bank’s management committee.
ABS new issuance increases 158%
Asset-backed securities (ABS) issuance for the second quarter has increased 158% compared with the first quarter, according to London-based data provider Xtrakter.
More writedowns coming at UBS
UBS will report more writedowns in its second-quarter results, due on August 12, the Swiss bank warned today.
Basel committee outlines reforms for rating agencies
The Committee on the Global Financial System (CGFS) – a group affiliated with the Bank for International Settlements that monitors developments in financial markets for the G10 countries – released on July 4 its findings on failures in structured finance…
TriOptima prepares to face Isda-backed rival
The new credit derivatives tear-up service announced by Isda yesterday will use a more flexible method of simplifying credit portfolios - but established provider TriOptima in Stockholm disputes it will be any better than its own service.
JP Morgan hires in credit correlation
JP Morgan has hired Olivier Vigneron, former global head of structured credit risk management at BNP Paribas in London.
Cheyne auction reflects harsh reality for SIVs
An expected restructuring of the assets of defunct structured investment vehicle (SIV) Cheyne Finance later this month underlines the harsh reality faced by many investors in the vehicles, who are likely to get little or none of their money back.
UniCredit snaps up TJ Lim and NewSmith credit advisory
UniCredit has bought London-based credit advisory NewSmith Financial Products (NSFP) and appointed chief executive TJ Lim as its new co-head of markets.
Markit and Creditex launch op risk CDS platform
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Sox burden eased by new guidance, says study
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European paper issued on improving securitisation transparency
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BSI issues whistleblowing code of practice
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Hedge fund investors offered fraud insurance
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HM Treasury assesses depositor protection
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SEC moves to reduce reliance on credit ratings
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