News
Monoline costs ANZ $200 million
Melbourne-based Australia & New Zealand Banking Group (ANZ Bank) has announced a US$200 million loss provision due to counterparty risk exposures to troubled US monoline insurer ACA Capital.
Cautious optimism over Northern Rock nationalisation
Rating agency Standard & Poor's has upgraded the troubled UK bank Northern Rock from A- to A after the UK government announced its nationalisation.
US supervisors at loggerheads
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ICAP executes first US Compliance Carbon Allowance Trade
ICAP announced today that its energy and emissions arm has executed the first over-the-counter (OTC) compliance carbon allowance transaction in the United States.
Natixis losses top €1 billion
Paris-based investment bank Natixis has announced a €1.1 billion writedown, as a result of the global credit crisis due to US subprime mortgages.
Deutsche loses US ABS and CDO research head
Deutsche Bank’s New York-based head of US asset-backed securities (ABS) and collateralised debt obligation (CDO) research, Anthony Thompson, is no longer with the bank.
CDOs of ABSs "in deep trouble"
Ninety-eight collateralised debt obligations of asset-backed securities (CDOs of ABSs) rated by New York-based Standard and Poor’s (S&P) have reached so-called events of default (EODs).
Eurosox lost in translation, warns Information Security Forum
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Standard & Poor’s pledges to reform the credit rating process
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ISO publishes biometric banking standard
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Imarex buys Spectron
Imarex ASA, the holding company that owns Oslo-based broker / exchange Imarex and clearing house NOS, has agreed to purchase interdealer broker Spectron Group for £70 million ($138 million).
US regulators reveal plan to split monolines
Monoline insurers could be split into two separate entities under plans being considered to stave off further credit rating downgrades of the troubled municipal bond guarantors.
Credit Suisse contains credit crisis impact
Zurich-based Credit Suisse has unveiled a lower than expected Sfr1.3 billion writedown on leveraged finance, and structured debt and mortgage investments in the fourth quarter of 2007.
Monolines show no appetite for Buffett
Warren Buffett’s plan to reinsure wrapped municipal bonds has been given short shrift by monoline bond insurers.
AIG admits errors in credit loss estimates
American International Group's (AIG) writedowns on its US subprime exposure were more than triple the original estimate, it emerged yesterday.
CFTC Establishes New Energy Markets Advisory Committee
The Commodity Futures Trading Commission (CFTC) has set up an advisory committee providing a public forum to examine emerging issues related to the energy markets and the CFTC’s role in these markets under the Commodity Exchange Act.