News
FSA sets up insurance crisis team
Daily news headlines
UK FSA fines approach £100 million
Daily news headlines
Ceiops: risk-oriented approach to Solvency II needed
Daily news headlines
Risk USA: Call to link risk manager compensation to performance
The compensation structure for risk managers should be revamped as part of wider changes to risk management processes in light of the credit crunch, delegates at Risk USA in New York were told yesterday.
Risk USA: IMF unveils dire global economic outlook for 2009
The global economy will experience growth of just 3% next year, as the effects of the financial crisis spill over into the wider economy, the International Monetary Fund (IMF) has said.
Government stakes in banks raise counterparty conundrum
The collapse of Lehman Brothers in September has put greater focus on the issue of counterparty credit risk. But dealers admit to being stumped as to how the taking of equity stakes in major banks by governments across the globe will play out.
Risk USA: Government inconsistency on rescues deepens crisis
The US Government's ad hoc response to bank failures has increased instability in the US banking system and deepened the credit crisis, a senior risk officer told delegates at Risk USA.
Bank CDS spreads tighten
The cost of credit protection on European banks narrowed this morning, as market sentiment rebounded after last week’s equity market plunge.
CME to launch new gasoil, natural gas liquids and plastics contracts
CME Group has announced the launch of new gasoil options and plastics futures contracts, as well new natural gas liquid swaps.
Three-month Libor rates fall as stock markets climb
Interbank lending continued to ease today as European and Asian equity markets showed further signs of recovery.
Daiwa expands its derivatives division
Daiwa Securities SMBC, the Japanese investment bank, has made several additions to its global derivatives team.
MF Global head steps down after Lehman losses
Kevin Davis, chief executive of US broker MF Global, has resigned as the company prepares to report unexpectedly high losses from the collapse of Lehman Brothers last month.
IMF, EU and World Bank feed cash-starved Hungary
The International Monetary Fund, the European Union (EU), and the World Bank will provide a $25.1 billion financing package for Hungary to support its ailing economy.
JP Morgan hires Asia structured product marketing head
JP Morgan has relocated David Hansson to Hong Kong as head of structured investments distributor marketing (SIDM) for Asia ex-Japan and Australia.
RBS appoints head of covered bond trading
Royal Bank of Scotland (RBS) has named Allen Rad as head of covered bond trading.
Isda launches CDS protocols for Icelandic bank settlement
Daily news headlines
SEC opens up US to foreign trades
Daily news headlines
Mexican regulator investigates corporates’ derivatives disclosures
After several Mexican corporates reported millions of dollars of mark-to-market losses on foreign exchange derivatives, the Mexican banking and securities regulator has launched an investigation into their disclosures about derivatives positions.
Bank of England predicts long haul for economy
The Bank of England plans to raise minimum capital levels and impose tight limits on bank leverage, as part of a push to prevent another credit crisis.
Goldman Sachs to market GHG emission reductions through strategic alliance with Blue Source
Goldman Sachs has bought an equity stake in Blue Source in a strategic alliance to market green house gas emission reductions in US.
Market recovery boosts interbank lending
Recovering Asian and European stock markets increased confidence in interbank lending today.
Aegon receives €3 billion government support
The Dutch government has indirectly purchased €3 billion in shares in Aegon, the insurance giant, making it the second prominent company to tap the €20 billion scheme provided by the Dutch state.
CDS spreads tighten as markets recover
The cost of credit protection has fallen as the world’s equity markets begin to recover from a volatile week of crashes prompted by fears of a global recession.
Japanese ban naked shorts despite liquidity fears
The Japanese Financial Services Agency today banned naked shorting of stocks on the Tokyo exchange until the end of Q1 in 2009. But the experience of other countries implies the country now risks making the stock market even more volatile and illiquid.