News
Households and corporates suffer worsened credit conditions
A net 31.1% of lenders cut back on lending to households and small businesses in the past quarter, blaming a worsened economic outlook, reduced risk appetite and lack of available funds.
FDIC prepares to sell off IndyMac
The US Federal Deposit Insurance Corporation (FDIC) is close to a $13.9 billion deal that would see the failed California mortgage lender IndyMac transferred to a group of private equity investors.
Fed agency MBS purchases to begin within days
The US Federal Reserve will start buying mortgage-backed securities (MBS) issued by Freddie Mac, Fannie Mae and Ginnie Mae within the next few days, fulfilling a promise it made in November.
Isda documentation to cover CDS settlement auctions
The International Swaps and Derivatives Association plans to incorporate the credit default swap (CDS) settlement auction process into the 2003 Isda credit derivatives definitions by mid-March.
StanChart names country heads of commodity trading
Standard Chartered has appointed country heads for its commodity trading and agribusiness (CTA) division in China, Indonesia and the United Arab Emirates (UAE).
Tarp runs out at last
Funds from the Troubled Asset Relief Program (Tarp) have finally been exhausted, following three months of capital injections and loan facilities extended to a variety of institutions.
EC talks on CDS clearing house break down
The European Commission's drive to get derivatives market participants to formally commit to a central counterparty clearing house for over-the-counter CDS has stalled
Calls grow for scrapping of Basel II accord
Industry figures argue that the capital adequacy regime is not relevant in today's economic climate, and that regulators have already abandoned certain aspects of the accord on the quiet