News
Risk South Africa: SARB’s Mminele outlines challenges facing central banks
Flailing markets brought on by bad US subprime mortgages present serious quandaries to the world’s central bankers, suggested Daniel Mminele, head of markets at the South African Reserve Bank (SARB).
Lehman Brothers suffers mispricing losses
Lehman Brothers in London has become the latest financial firm to suffer losses from unauthorised trader activity, losing a reported $150 million on misvalued exotic equity derivatives trades.
Banks relied too much on ratings, supervisors say
Regulators from France, Germany, Switzerland, the UK and the US say banks that suffered serious losses during the credit crisis often did so because of avoidable failures in risk monitoring and management.
Risk South Africa: leveraged loan market to pick up in 2009
The South African leveraged loan market will calm down in 2008 after the global credit crisis but is expected to pick up again in 2009, according to Rand Merchant Bank (RMB), a division of FirstRand Bank.
Nymex and LCH.Clearnet form clearing alliance
New York Mercantile Exchange (Nymex) and clearing house LCHClearnet will team up to offer two energy contract slates, one cleared by Nymex ClearPort in New York and the other cleared by LCH in London.
StanChart reshuffles Asia FX, rates and commodities
Standard Chartered has made senior appointments in Manila and Singapore in commodities, foreign exchange and interest rates.
Noble Group's risk head relocates to Hong Kong
Global commodity supply chain manager Noble Group will move group risk manager Nick Brewer to its head office in Hong Kong in March.
Logica and SAP launch GRC collaboration
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US banks biding time on Basel II, says Dugan
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UBS and Bloomberg launch CMCI Food Index
The new UBS Bloomberg CMCI Food Index provides direct exposure to the food sector.
World Bank group launches Cat DDO
The International Bank for Reconstruction and Development (IBRD), part of the World Bank, has announced a new loan facility designed to provide emergency finance for middle-income countries suffering natural catastrophes.
Deutsche moves global head of equity trading to Asia
Noreddine Sebti, Deutsche Bank’s global head of equity trading, will relocate to Hong Kong from New York to head the firm’s equities business in Asia.
JP Morgan's Asia head of energy trading moves to London
Alf Salti will leave his position as Asia head of energy trading at JP Morgan in Singapore in April to move to London as global head of fuel oil trading.
E*Trade names Layton CEO
Electronic brokerage E*Trade has appointed Donald Layton as its chief executive officer.
Fraud is unavoidable, says Deutsche's risk chief
Rogue traders are an unavoidable part of doing business, and banks should concentrate on being able to keep trading even after they are discovered, Deutsche Bank's chief risk officer, Hugo Banziger, told a London conference yesterday.
Linklaters and Wolters Kluwer release new regulatory tool
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New FSA electronic recording rules
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Financial directors personally liable for financial control failings, says BCS
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UBS names Asia head of exchange-traded commodity derivatives
Terence Noe has relocated from UBS in London to Singapore in the newly created post of Asia-Pacific head of exchange-traded commodity derivatives.
Northern Rock nationalisation positive for bondholders
Holders of bonds issued by the Granite master trust will benefit from government ownership although questions remain over the vehicle's long-term future
Pimco's head of MBS sees upside in illiquid markets
Value to be found in private label mortgage securities where liquidity premiums greatest, says key investor