News
Adaptation Fund sells first CERs
The World Bank's Adaptation Fund has sold its first Certified Emission Reductions (CERs) as part of its CER monetisation programme.
CDSs tighten on US financials
The cost of credit protection on US banks fell in Asian and European trading today.
PPIP banks may be able to buy rivals' toxic assets
The US Treasury's behind-schedule Public-Private Investment Program (PPIP) could face difficulty in attracting banks to participate in the scheme, while policymakers are considering whether to allow banks to buy each other's assets.
FSA stress test results will not be disclosed
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IASB proposes simplifying fair-value measurement
The International Accounting Standards Board (IASB) has sought to simplify its standards on fair-value measurement, bringing International Financial Reporting Standards (IFRS) further into line with US Generally Accepted Accounting Principles (Gaap).
FSA stress tests banks for four-year downturn
Banks in the UK must stress test their capital levels against a "worst-case" recession more severe than any since World War II, the Financial Services Authority revealed today.
EGL opens UK office
EGL (Elektrizitäts-Gesellschaft Laufenburg), an asset-backed Swiss energy trading firm that forms part of supply company Axpo Group, is to open a London office under the name EGL UK.
Ontario debates cap-and-trade scheme
Cap-and-trade legislation introduced this week by the Government of Ontario, Canada proposed a 6% cut in greenhouse gas (GHG) emissions from 1990 levels by 2014.
CDSs on US financials widen
The cost of credit protection on major US banks rose in Asian and European trading today.
Cesr: CRAs show room for improvement
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EC pushes for stronger financial co-operation
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Shell reorganises business structure
Royal Dutch Shell has announced a series of changes to its organisational structure including the merging of its upstream businesses and the launch of a new projects and technology business.
Carbon industry calls for clarity on emission targets
Leading carbon market figures at the Carbon Expo conference in Barcelona have demanded increased clarity on four crucial issues ahead of the UN's COP 15 climate talks in Copenhagen in December.
Syncora worth 15%, according to credit derivatives auction
A May 27 auction has determined a final settlement value of 15 cents on the dollar for credit default swaps (CDSs) referencing Bermuda-based Syncora Guarantee, the monoline formerly known as XL Capital Assurance.
Australia lifts ban on short selling
The Australian Securities and Exchange Commission (Asic) lifted its ban on covered short selling on May 25, just over seven months after it was originally imposed.
CDS spreads tighten on Japanese firms
The cost of credit protection fell on Japanese electronics companies in Asian and European trading today, while remaining steady on US and European financials.
EU overhaul of financial supervision raises questions
Ambitious plans laid out by the European Commission to revamp the supervisory framework of the European financial markets have raised concerns about the possible implications of creating new supervisory bodies.
Optimal pays $235 million to Madoff trustee
Optimal Investment Services, the Switzerland-based asset management arm of Banco Santander, has agreed to pay $235 million to the trustee responsible for liquidating Bernard Madoff's investment management firm, Bernard Madoff Investment Securities (BMIS).
Markit and DTCC's OTC services merger could close by end of June
The merger of London-based Markit's and New-York-based Depository Trust & Clearing Corporation's (DTCC) trade-processing services is expected to become official within six weeks.
FDIC taps insured banks for funds as reserves dwindle
The Federal Deposit Insurance Corporation (FDIC) is to levy an additional five-basis-point special assessment charge on depository institutions at the end of the third quarter to boost its fast-dwindling deposit insurance fund (DIF).
New LNG reporting tool launched
A new daily gas flow and LNG vessel movement reporting service for energy traders and analysts has been launched by shipping information specialists Lloyd's Register-Fairplay and energy trading software company Innovez.
Exelon presses on with NRG acquisition
The Federal Energy Regulatory Comission (FERC) has approved Exelon Corporation's application for its proposed acquisition of NRG Energy.
ASX to launch coal futures on July 7
Australian Securities Exchange (ASX) has received regulatory clearance to launch its physically delivered thermal coal (FOB Newcastle) futures and options contracts on July 7.
CESR: Rating agencies still not following rules on structured products
The major credit rating agencies are broadly compliant with the code of conduct recommended by the International Organisation of Securities Commissions (Iosco), but are still failing to tighten the rules on structured product ratings, according to…