News
Adoboli allowed to suspend $1 billion loss, court hears
Kweku Adoboli had permission to suspend a loss of $1 billion, a London court heard today
Korea to miss OTC clearing deadline
It is ‘highly unlikely’ that Korea will meet the deadline to start clearing OTC derivatives by January 1, 2013 due to legislative delays, according to market participants
CFTC may alter stance on physical gas deals
Agency expected to respond to natural gas industry fears about Dodd-Frank swap definition
Risk reaches 25-year anniversary
In celebration of our 25th anniversary this year, Risk re-publishes a landmark article by Fischer Black, offering a critique of the Black-Scholes model
Industry unmoved by death of minor-currency Libor
The Wheatley Review calls for an end to Libor quoting in five currencies, but the number of trades affected is small – a good thing, because the available solutions are flawed, say market participants
Adoboli trial: UBS had three other unauthorised trading incidents
UBS found three other unauthorised trading incidents, a court heard today
On the move
On the move
JSCC reviews capital threshold for clearing membership
Japan’s central counterparty proposes a 20-fold lower capital threshold for membership for it to qualify as a recognised clearing house under US rules; it also started successfully clearing yen interest rate swaps as of last week
CCIL trade repository reporting to extend to all currencies
After the initial launch in July, CCIL moves to phase two in its trade repository build-out
Insurers welcome Eiopa’s review of capital charges on infrastructure and securitisations
Standard formula is too harsh and fails to reflect real risk of long-term finance, say insurers
FX Week Asia: Exemptions offer little solace for corporates
Corporate treasurers remain concerned about increased hedging costs as a result of new regulation, and expect banks to pass the costs on – despite exemptions for corporate hedging
Adoboli court hears of UBS’s internal control failures
Internal risk management controls at UBS failed to detect Adoboli's actions, a court heard today
Structured product 'disguised' interest may be subject to higher taxes
Returns on more structured products could be subject to income tax rather than capital gains tax following a tightening of the law by the UK tax authority
Insurers 'must understand risk on non-traditional assets'
Modelling and regulatory impact of new asset classes must be considered in search for higher yield
CFTC offers last-minute Dodd-Frank relief
Agency eases compliance burden for commodity and energy firms
UBS’s CFO gives evidence in Adoboli trial
Tom Naratil says $2.3 billion losses "did not jeopardise the existence of the bank"
FSA forces UK banks to assume higher sovereign losses
Behind-the-scenes clampdown sets loss-given-default floor at 45% – and could make UK bonds less attractive
S&P Dow Jones Indices takes on high-dividend and low-volatility combination in industry first
S&P Dow Jones Indices has combined two of the year's biggest themes so far in its latest index, the S&P 500 Low Volatility High Dividend Index
Concerns raised over Basel settlement risk guidance as consultation closes
The revised guidance on managing settlement risk could distort the forex market if implemented inconsistently, but should ultimately lead to greater use of CLS, say market participants
Data challenges for cat risk ‘threatens standard formula usage’
Lack of data could force insurers with non-standard catastrophe risks to use internal model, warns Insurance Europe
CFTC’s clearing timeline prompts backloading "meltdown"
A re-reading of the CFTC's phase-in rules for central clearing is prompting alarm among buy- and sell-side firms
Scoach listings plummet as risk appetite rises
Figures from Swiss structured products platform show falls in listings between August and September reflect year-on-year trend
Dyson appointed deputy chief information officer at SEC
Dyson’s brief involves updating IT systems
EBA highlights shortfalls in Pillar III disclosure
A report issued this morning says many banks are failing to report market and credit risk adequately