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Concrete steps taken on international regulation
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CDSs on European financials widen
As equity markets tumbled this morning amid fears the US government would not extend further aid to the auto industry, the cost of credit protection on European banks rose.
US Treasury outlines framework for regulatory reform
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Ceiops members approve financial crisis guidelines
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$9.2 billion derivatives losses for US banks in Q4
US commercial banks reported $9.2 billion in derivatives trading losses during the fourth quarter of 2008, bringing total trading losses in 2008 to $836 million, according to a quarterly report by the Office of the Comptroller of the Currency (OCC). This…
Iberdrola Renovables: “No change in investment plans”
Spanish energy company Iberdrola Renovables has confirmed that it still plans to deliver all the wind projects planned for this year and will continue with its strategic plan to invest €18.8 billion by the end of 2012.
Low oil price puts supply growth at risk
Future oil supply growth could be hit by the fall from last July's peak price of $147 per barrel, according to a new study, with 7.6m barrels per day (bpd) at risk between 2009 and 2014.
Shanghai steel futures begin trading
The Shanghai Futures Exchange launched trading in steel futures on March 26 to modest success, with a wide range of trading houses supporting the new contracts, traders and analysts said.
Top executives leave RBS Sempra
RBS Sempra Commodities has confirmed that president Frank Gallipoli and CEO David Messer have left the company.
Phoenix launches platform for renewable credits
Interdealer broker Phoenix Partners has launched an electronic OTC trading platform for renewable energy credits (REC.)
"Substantial increase" in European corporates hedging exposure to CEE
The depreciation of currencies in central and eastern Europe (CEE) has led to a wave of western European companies hedging their forex exposure to the region.
Shanghai steel futures shine on first day of trading
The Shanghai Futures Exchange launched trading in steel futures on March 26 to modest success, with a wide range of trading houses supporting the new contracts, traders and analysts said. The two new contracts are the seventh and eighth products to be…
Mixed benefits for banks from independent valuations
Flaws in the valuation of complex securities have driven a renewed focus on independent valuations, but vendors remain divided in their assessment of the use banks are making of their services.
CDSs on banks under UK asset protection programme widen
The cost of credit protection on UK banks rose marginally this morning. As the deadline of March 31 for UK banks to sign up to the government's asset protection programme approaches, banks already participating in the scheme saw their CDSs widen the most.
UK firms face greater business continuity risk
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Executive Board streamlines CDM processes
Tighter standards and more streamlined procedures for the accreditation of third-party certifiers of Clean Development Mechanism (CDM) projects were announced at the CDM Executive Board meeting held in Bonn, Germany yesterday.
CDSs referencing US banks widen
The cost of credit protection on US banks continued to rise yesterday, following Treasury secretary Timothy Geithner announcing a plan to relieve US banks of toxic assets on March 23. Some analysts believe Geithner's plan still lacks detail, particularly…
Banks suffer from stricter ratings criteria
Banks may be the latest victims of a continuing drive by rating agencies to impose harsher tests on highly-rated structured finance products, analysts said.
Geithner: US will "force all standardised OTC derivatives into central clearing"
The US Treasury will seek to fully regulate over-the-counter derivatives, secure the registration of large hedge funds with federal authorities and push ahead with plans to create a new systemic super regulator, Treasury secretary Timothy Geithner has…
Moody's: FGIC unable to meet payments
Moody's has warned that monoline insurer FGIC might not be able to meet its payments on the subprime-linked assets it has insured.
CDSs on UK financials begin to widen
The cost of credit protection on UK banks rose this morning after two days of narrowing in five-year senior credit default swap (CDS) spreads.
US Fed and Treasury clarify financial stability responsibilities
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SAS launches new fraud protection framework
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