News
Credit Suisse names Jewell-Tait as head of private banking for Australia
The Swiss banks names Edward Jewell-Tait as its Australian private banking head and says it will continue to add more senior bankers in Australia to strengthen its business in the market.
Comparability of EBA stress tests questioned
The ability of banks to use their own internal models for determining stressed PDs and LGDs mean the results will not be comparable, bankers claim
People moves
Herzberg joins BTG Pactual as equity trading head
CCPs object to ‘misleading’ Emir collateral clause
CCPs object to Emir collateral clause
Half of interest rate swaps now being cleared, says Isda
$601 trillion notional OTC figure reduced to $0.9 trillion gross value after netting, collateral
Stoxx indexes offer investors enhanced access to infrastructure sector
Stoxx has launched an index that provides investors with enhanced exposure to infrastructure, the alternative asset class that has increased in popularity among investors with its stable returns in the medium to long term
Energy Risk USA: could anti-manipulation rule curb energy activity?
Dodd-Frank manipulation rules could “chill” energy market and boost regulatory infrastructure costs: ER USA panel
US banks may lose sovereign clients over margin rules
US banks may lose sovereign clients over Dodd-Frank margin posting rules
LPR Nordics: Sampension hits back at guarantee switch critics
The CEO of the Danish pension fund mounts a robust defence of his decision to remove the legal basis of its product guarantees
LPR Nordics: Danish FSA warns industry against Solvency II "compliance exercise"
Top Danish insurance and pensions regulator uses Life & Pension Risk Nordic conference to caution firms not to treat new regulation as a box-ticking exercise - or to rely on delays
Deutsche considered Autobahn spin-off in bid for Sef status
Dodd-Frank caused Deutsche to look at reinventing its Autobahn platform as a Sef – but dealers now see a future for their platforms as price aggregators
Acquisition boosts awareness of carbon capture and storage
2Co takeover of Powerfuel could improve profile of carbon capture and storage
Isda chairman: US banks could be hamstrung by Dodd-Frank
Isda chairman warns House Committee on Agriculture that extraterritorial application of swaps proposals could make US banks less competitive
Nomura launches South Korea Government Bond Index featuring liquidity screening
The South Korea Government Bond Index aims to offer investors increased tradability through the use of a liquidity enhancement mechanism
House committee approves extension for Dodd-Frank rule-makings
Vote is unlikely to delay reform implementation
Increase in corporate hedging boosts derivatives industry in Asia
Banks in the Asia-Pacific region have benefited from a more active year in derivatives, as corporates seek to hedge their currency and interest rates exposures following a slowdown during the financial crisis
Energy companies warned on end-user status
Energy Risk USA speakers concerned about reliance on end-user status; urge energy companies to begin Dodd-Frank compliance planning
Fed to kick off annual stress-testing programme 'towards end of the year'
FRB building models to compare and benchmark bank results from late 2011
Mortage company chair convicted on 14 counts of fraud
Sigtarp says: "This is the most significant criminal prosecution to date rising out of the financial crisis"
Sentences handed down in Omni fraud case
Delroy Davy convicted of bank fraud, sentenced to 14 years in prison
SEC charges three execs in California with boiler room fraud
mUrgent Corporation and three of its executives charged with $10 million fraud
UBS ordered to pay $160 million in fines by SEC
Swiss bank charged with undermining the competitive bid process of municipal securities
British banks ring-fence more than £5 billion for PPI compensation payouts
Banks will not appeal decision of judicial review regarding complaints against them and have set money aside for settlements
Worry about Greek CDS misguided, dealers suggest
Dealers believe fears about Greek sovereign CDS trigger event are overplayed