News
Fitch launches online credit derivatives tool
Fitch, the international rating agency, today launched a new web-based service providing data and analysis for the credit derivatives market.
Australia a hotbed for CLN issuance
Credit-linked notes (CLN) issuance has soared in Australia this year, with the volume of rated notes exceeding A$1.2 billion ($881.3 million) year-to-date, compared with A$240 million in 2002, according to Mei Lee Da Silva, credit analyst in Standard and…
Burns named president of MR3 Systems
San Francisco-based technology company MR3 Systems has appointed John Burns, an ex-Barclays Metals managing director of derivatives finance, as its president.
Bank of England publishes operational contingencies report
The Bank of England yesterday published an eagerly awaited report on how the government would handle a disaster striking the financial sector, such as a terrorist bombing.
UK Treasury publishes paper on implementing EU CAD in the UK
The UK Treasury yesterday published a consultation paper on how the European Union's Capital Adequacy Directive (CAD) can be best implemented within the UK and the EU as a whole.
US regulators may change Basel II rules, says Ferguson
The Board of Governors of the Federal Reserve System still has options to change the Basel II rules to allow for national discretion, according to Federal Reserve Board vice-chairman Roger Ferguson. The bifurcated system of Basel II application in the US…
Kamakura upgrades credit default prediction software
Hawaii-based risk technology vendor Kamakura has upgraded its default probability calculation software. The company said version 3.0 of its Jarrow-Chava default probability KDP-jc is an improvement on previous models that tended to overestimate the…
Abbey National selects Algo Collateral
Abbey National has licensed Algo Collateral from Canadian risk technology provider Algorithmic. The UK bank will start implementing the technology in London immediately.
Dow Jones unveils Trac-x Europe high-yield index
Dow Jones Indexes today gave details of the portfolio for the new Dow Jones Trac-x Europe high-yield index. The index consists of the 25 most liquid European high-yield credit default swaps, and contains many well-known names such as British Airways,…
FSA chairman headed for showdown with US regulators
Callum McCarthy, the new chairman of the UK's Financial Services Authority, is to visit the US later this week to meet Roger Ferguson, vice-chairman of the Federal Reserve.
Gay Evans is new head of the Joint Forum
Gay Evans, director of markets at the UK Financial Services Authority (FSA), will in January 2004 take over as chairman of the Joint Forum, a group of experts working under the umbrella of the Basel Committee on Banking Supervision, the International…
FSA chief hits out at structured products
Financial Services Authority (FSA) chairman Callum McCarthy has warned of the dangers of banks selling complicated financial products to customers who do not fully understand them.
Securities firms must certify compliance with securities laws, says NASD
All US securities firms will be required to designate a chief compliance officer (CCO) who will, with the chief executive officer (CEO), certify annually that the firm is working toward compliance with various securities laws, according to the National…
Credit derivatives innovations essential for health of credit market
Product structurers must continue to develop innovative credit derivatives products to keep people interested in credit, according to Bob Janjuah, ABN Amro's global head of credit strategy.
FSA chief hits out at structured products
Financial Services Authority (FSA) chairman Callum McCarthy has warned of the dangers of banks selling complicated financial products to customers who do not fully understand them.
Former BoA global markets head joins Icap
Duncan Goldie-Morrison has joined Icap as a non-executive director and member of the UK inter-dealer broker's audit, remuneration and nominations committees.
Credit derivatives innovations essential for health of credit market
Product structurers must continue to develop innovative credit derivatives products to keep people interested in credit, according to Bob Janjuah, ABN Amro’s global head of credit strategy.
Emisphere recruits chief financial officer
New York-based biopharmaceutical company Emisphere Technologies has hired former Ernst and Young derivatives specialist Elliot Maza as chief financial officer. He will be responsible for leading the company's effort in financial operations, planning and…
Regulation to hit UK insurers for £15bn with little tangible gain
New risk-based regulation will cost the UK insurance industry between £10 billion and £15 billion, with tangible benefits measured at less than £1 billion, according to a cost-benefit analysis conducted by the UK's chief financial watchdog, the Financial…
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Regulation to hit UK insurers for £15bn with little tangible gain
New risk-based regulation will cost the UK insurance industry between £10 billion and £15 billion, with tangible benefits measured at less than £1 billion, according to a cost-benefit analysis conducted by the UK’s chief financial watchdog, the Financial…
Canada tightens derivatives disclosure regulation
The Canadian Securities Administrators (CSA) has approved new rules designed to more adequately cover certain derivatives transactions.
