News
Trouble of removing ratings highlighted by SEC
SEC proposal to remove ratings shows difficulty ahead for other US regulators, including banking agencies
GFI Fenics makes four new hires across Asia-Pacific
GFI Fenics, a subsidiary of GFI Group, adds four new members to its commercial team in Asia-Pacific.
SEC and CFTC ask for more funds to meet Dodd-Frank workload
Regulators seek $1.4bn and $308m respectively, but $117m CFTC “user fee” apparently dropped
Islamic Bank of Asia names O'Connor as new CEO
Toby O’Connor has been appointed the new CEO of the Islamic Bank of Asia
MF Global reinvention continues with new derivatives hires
Brokerage adds to commodity and equity teams, and prepares to close Paris and Zurich offices
Standard & Poor’s Civets index looks for growth beyond the Brics
Standard & Poor’s has launched the S&P Civets 60 index, designed to track stocks in non-Bric emerging markets
FSA: insurers should prepare for failure of internal model approval
FSA: insurers should prepare for failure of internal model approval
SMX chief resigns, will stay on advisory board
Thomas McMahon, chief executive of the Singapore Mercantile Exchange (SMX) resigned over the weekend
Commodity prices seen as greatest threat to recovery: poll
Rising commodity prices pose the biggest risk to recovery after the 2008 global financial crisis, according to a risk.net poll
Constellation/Exelon deal signals more power M&A fervour
Low power demand and gas prices drive further US power consolidation as companies try to increase margins through cost reductions
US Treasury will exempt forex swaps and forwards from Dodd-Frank
Afme's global forex division welcomes the decision, announced on April 29, and calls on European rule-makers to follow suit
New Zealand banks still prone to offshore wholesale funding risks
The asset quality and capitalisation of New Zealand banks remains strong but dependence on wholesale funding is still a risk, say credit rating agencies.
Push for lower Tier II capital fund raising prior to window closing
Investment banks are urging financial institution clients to issue old-style lower Tier II capital before the window closes on January 1, 2013, when the full force of Basel III capital rules come into effect.
People moves
Stephen O’Connor named as new Isda chairman
Basel open to liquidity rule changes
Basel open to liquidity rule changes
Barclays ETNs access the 'pure beta' of commodity returns
Barclays ETNs access the 'pure beta' of commodity returns
$20 million capital hike for major swap participants
All MSPs and swap dealers to hold minimum $20 million under CFTC proposals
Splits emerge in CFTC and SEC swap product definition rules
Agencies largely aligned, but conflicts remain after 10-month negotiation
CFTC regulators favour extending Dodd-Frank comment period
CFTC cost and timing concerns continue; FTRs and commodity forwards exempted from swaps definition
Citi’s Gerspach: $12.7 billion accounting switch was legit
Switch of assets to trading book and subsequent sales meant to limit Basel III capital impact, says Citi's CFO
Banks rail against FASB netting proposals
Dealers say gross figures over-inflate balance sheet and misrepresent risk
RBS names Skeet head of FIG
RBS has appointed Tim Skeet as a managing director, financial institutions group, in its debt capital markets division in London
Video: Market risk reporting requires standardisation, says Risk Europe keynote speaker
A plethora of methodologies for reporting market risk in annual reports makes transparency impossible, says Sanjay Sharma at Risk Europe in Brussels
Higher collateral demands have reduced hedge fund systemic risk, say Risk Europe panellists
Panellists at Risk Europe, held in early April in Brussels, claim banks are demanding much higher levels of collateral from hedge funds today, reducing a source of systemic risk