News
LCH.Clearnet to launch OTC clearing service for spot emissions
LCH.Clearnet has announced intentions to launch a clearing service for UK participants in the spot market for carbon credits.
CDS spreads tighten on European banks
The cost of credit protection fell today on European financials in response to yesterday's commitment by the Federal Open Markets Committee to buy up to $300 billion in long-term US Treasury securities.
Turner report published
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Cebs stresses simplicity and communication in report on liquidity buffers
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FSA plans new capital formula for banks
The UK Financial Services Authority (FSA)'s chairman Adair Turner has outlined proposed new capital rules for UK banks, which would see minimum capital levels determined based on balance sheet growth or full-cycle loan book risk.
Fed increases security purchase plans
In an effort to resuscitate private credit markets, the Federal Open Markets Committee stated today that it would purchase up to $300 billion in long-term US Treasury securities over the next six months.
Derivatives counterparties shun Ford and GM
Few banks are now willing to enter derivatives trades with Ford and General Motors, leaving the struggling car manufacturers exposed to further risk.
EcoSecurities makes first transfer on Voluntary Carbon Standard registry
Carbon project developer EcoSecurities has made the first transfer of Voluntary Carbon Units (VCUs) to Australian voluntary carbon retailer Climate Positive through the global Voluntary Carbon Standard (VCS)registry TZ1. The generated VCUs came from an…
Bank CDS spreads widen
The cost of credit protection rose this morning on European and US financials.
Kaplan and de Saint-Aignan join State Street board
Robert Kaplan, a former vice-chairman at Goldman Sachs, and Patrick de Saint-Aignan, ex-head of risk management at Morgan Stanley, have joined the board of State Street.
UK regulatory focus will hold firm on liquidity risk
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China publishes new derivatives master agreement
The Chinese National Association of Financial Market Institutional Investors (Nafmii), a trade association set up by the People's Bank of China (PBOC), has published a new master agreement for trading, settlement and netting of onshore derivatives traded…
New registry will guarantee carbon offset credits
Caisse des Dépôts, a AAA-rated financial security centre, has launched a Voluntary Carbon Standard (VCS) registry for the voluntary carbon emissions offset market.
Point Carbon finds recession has reduced demand for carbon credits
The global credit crunch has significantly altered the balance between the supply and demand for carbon credits and led to a large scale-back in carbon credit project development, carbon consultancy Point Carbon has stated at its Copenhagen-based…
Deutsche Bank appoints four new board members
Deutsche Bank's management board doubled in size today with the appointment of four new executives, due to join the board on April 1.
Fed delays capital requirements rules for bank holding companies
The Federal Reserve has postponed new capital requirements ratios for bank holding companies for two years, in an effort to allow banks to boost capital levels amid continued weakness in the financial markets.
Board reshuffle at UBS
Swiss bank UBS, which last week announced a Sfr20.9 billion ($18.03 billion) loss for 2008, plans to significantly restructure its 12-strong board of directors next month.
Four new nominees for Citi board
Citi's board of directors will undergo a reshuffle next month with five existing members stepping down to make way for four new independent candidates.
Steady morning for bank CDSs
After a significant improvement in market sentiment yesterday, the cost of credit protection remained steady this morning on US financials, while falling on south-east Asian corporates.
SG's deputy head to retire
Philippe Citerne, deputy chief executive of Société Générale, will retire at the end of next month.
G-20 ministers agree expansion of international financial organisations
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Australia, Brazil, China, India, Korea, Mexico and Russia join Basel Committee
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G20 calls for stronger IMF
A strengthened and expanded International Monetary Fund (IMF) is at the heart of the plan to soften the recession and repair the global financial system announced by G20 members over the weekend.
Spectron brokers first California carbon option
Spectron Environmental, the environmental products division of commodities brokerage Spectron, has brokered the first cleared Californian carbon option.