News
Derivatives reform to hit energy giants
Several major energy and commodities companies such as Royal Dutch Shell and BP are to face a substantial rise in derivatives trading costs, following the adoption of the Dodd-Frank Wall Street Reform Act.
Legal experts identify end-user issues under new US act
As US regulators embark on redefining over-the-counter derivatives trading, energy end-users need to be aware of how they will be categorised and the potential impact on trading costs.
Nomura boosts New York leveraged finance team
Normura Securities North America appoints Julie Persily and Steven Seltzer as co-heads of leveraged finance and Alexis Lasser as head of private capital markets, Americas.
Janus Capital recruits Threadneedle sales manager
Janus Capital nabs Steven Bilodeau from Threadneedle's Frankfurt office.
Brownstone Investment Group hires investment grade director
Fixed income investment firm Brownstone hires Sean Richter as high grade director.
BP’s oil spill to tighten global oil supply - report
BP’s Gulf of Mexico oil spill will tighten global oil supply as US oil production is set to wane, following expectations the disaster will lead to stricter regulation and closer scrutiny of drilling operations in the US, say Barclays Capital
Double dip seen as most likely threat to financial system
Recent Risk.net poll finds market fears second global slowdown above other scenarios
Dodd-Frank: consumer protection regulator to increase retail op risk exposure
The planned Consumer Financial Protection Bureau could drive US focus on treating customers fairly for retail banking and credit products
Sigtarp hammers US housing support again
Government support for mortgage market growing despite "unconvincing" results, report finds
Cultural shift needed to embed data security enforcement
Data security awareness lacking in financial services despite big budgets
Goldman hit by short equity volatility position
Rumours of big losses in Goldman's equity derivatives business are borne out as second-quarter profits drop 83%.
China disputes IEA energy data
The International Energy Agency’s claim that China has overtaken the US as the largest energy user, has exacerbated concerns that supply and demand data could be out of sync with price forecasts
Review imposes op risk capital charge on non-bank lenders
Mortgage lenders must hold capital for operational risk
Chinese banks’ AMA op risk projects on hold
AMA projects on hold as Chinese banks get to grips with credit risk portion of Basel II
Irish government considers sovereign annuity bonds
IAPF director insists plan is not a bailout of private sector schemes
CFTC rules increase credit risk
Proposed rules to limit leverage on margin FX trading accounts at retail forex brokers will have the unintended consequence of increasing counterparty risk, according to Josh Levy, managing director at Tactical Asset Management.
Estonia upgraded on euro accession; Ireland knocked down on banks’ weakness
Fitch lifts Estonian credit rating two notches, citing benefits of eurozone membership and strong fiscal performance; Moody’s downgrades Ireland on poor growth projections, worries over bad bank
31% of oil and gas firms lack ETRM solutions
Nearly one third of all oil and gas companies are more susceptible to systemic risk, as a report reveals 31% of these firms lack an energy trading and risk management (ETRM) solution for their operations
Passage of Dodd-Frank Act heralds start of rule-making process
Financial reform legislation passes in the US Senate, as focus turns to the complex issue of implementation
ETF issuers confirm tax status
ETF providers in the UK are busy confirming their distributor status, which will allow investors to pay capital gains rather than income tax
Moody’s boosts Petronas rating on Iraq exposure
Rating agency gives a surprise boost to Malaysian oil company Petronas’s credit rating from negative to stable, despite the company’s substantial acquisition of an Iraqi oil field with Royal Dutch Shell
Aon Benfield launches first pan-Asian typhoon model for cat risk
Two companies offer new insurance products covering typhoon catastrophe risk in Asia
China unveils major oil and gas plan
China’s seemingly insatiable appetite for energy production and consumption reaches new levels as the country unveils plans to increase oil and gas production by a third by 2020
Cesr pushes electronic confirms for OTC market
European securities regulator suggests electronic confirmation could be mandatory