News
CFTC sets dates for position limits hearings
The Commodity Futures Trading Commission (CFTC) will hold the first of three open hearings to discuss energy position limits and hedge exemptions on July 28, 2009.
Q2 profits a false dawn for banks, Moody's says
Rising funding costs, continuing writedowns and the withdrawal of government support could push the global banking industry back into crisis, analysts warned this week.
US Talf helps CMBS market recover
The Federal Reserve Bank of New York's Term Asset-Backed Securities Loan Facility (Talf) is helping to revive the commercial mortgage-backed securities (CMBS) market, analysts have concluded, although the chances for residential mortgages to be included…
FSA issues new 'Dear CEO' remuneration letter
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'We will abolish the failed tripartite system' says UK Conservative white paper
UK opposition party pledges to fold the FSA into the Bank of England if elected
US Wrap: Return to reverse convertibles at week open
The US market has sprung back to life after dwindling to a near standstill towards the end of last week, with 22 new reverse convertible structures launching into the market.
European supervisors press for more detail on EC overhaul plans
The European Commission (EC) is expected to publish feedback on its proposals for an overhaul of financial supervision in August, but senior European regulators are already expressing concern about some aspects of the proposed reforms.
Tarp supervisor finds Treasury's oversight is still inadequate
The US Treasury is still failing to protect its aid to US banks from fraud and misuse, according to the latest report from the special inspector general for the Troubled Assets Relief Program (Sigtarp).
Senate investigates speculation in wheat market
Several market participants appeared before a Senate subcommittee today to discuss the effect of excessive speculation on the price of wheat futures.
Exelon drops NRG acquisition plan
Exelon Corporation has terminated its offer to acquire all of the outstanding shares of NRG Energy common stock at a fixed exchange ratio of 0.545 of a share of Exelon common stock for each share of NRG common stock.
JP Morgan rejigs equity derivatives unit
JP Morgan has rotated and promoted a number of key staffers in its Asian equity derivatives unit, with severalrelocating to the UK and US.
Direxion continues leveraged trend with real estate ETFs
Direxion has launched two new exchange-traded funds (ETFs) which give three times leveraged exposure to the MSCI US Real Estate Index. The Direxion Daily Real Estate Bull 3x Shares offers 300% of the daily upside performance of the index, whereas the…
Tarp inspector general calls for more clarity on banks' use of funds
The US Treasury's special inspector general for the Troubled Assets Relief Program (Tarp), Neil Barofsky, has called on the Treasury to force banks to report their use of the Tarp's bailout funds. But the Treasury is reluctant to do so.
Doubt over Fed’s ability to limit systemic risk
The Obama administration’s proposals for safeguarding the financial system place the US Federal Reserve at the heart of a new regulatory regime for systemic risk, but some former regulators are sceptical of the Fed’s ability to carry out the job.
Trading and one-off gains lift bank profits
Trading activities and one-off gains helped US banks record positive results during the week ending July 17, despite a continuing deterioration in traditional lending businesses, analysts said.
Cebs calls for varying capital buffer rules
Reform of the Basel II capital adequacy rules should include a varying capital buffer to compensate for losses and smooth out the effects of the business cycle, European regulators said on Friday.
Citi in secret FDIC deal over governance problems
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US Wrap: Week of activity closes with quiet spell
The US market has enjoyed a relatively busy period which has tailed off as the week draws to a close. Forty-four products have been launched over the past seven days, including one day of bumper reverse convertible issuance when ABN Amro unveiled 19 of…
Race against the clock for European CDS CCPs
With just two weeks remaining until the European Commission’s deadline for central counterparties (CCPs) to begin clearing credit default swaps (CDSs), two of the competing platforms are still waiting for regulatory approval.
Bank CDS spreads tighten on positive second-quarter results
The cost of credit protection fell on US and European financials this week after a wave of positive second-quarter results.
UK Treasury releases Walker Review
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Investor panel urges reform of US financial markets
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US Treasury issues fact sheet on hedge fund regulatory reform
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Société Générale launches new listed income product
Société Générale has issued a new listed plan, which guarantees to pay an income higher than a traditional savings account. The FTSE Income Protection 3000, which is listed on the London Stock Exchange, provides investors with a fixed income of £17, or 1…