Credit risk
'Technical' factors drive banks back to profit
Major US and European banks are predicting profits for the first quarter of 2009 - but analysts caution that the apparent upturn has more to do with technical factors than a real recovery in performance.
CDS: Citi and BofA lead widening on US banks
Credit default swap 5-year mid-levels for structured products issuers (Friday March 20)
CDS: Spreads on US banks widen
Credit default swap 5-year mid-levels for structured products issuers (Wednesday March 18)
CDS: Spreads narrow on financials led by Credit Suisse
Credit default swap 5-year mid-levels for structured products issuers (Thursday March 19)
Derivatives counterparties shun Ford and GM
Few banks are now willing to enter derivatives trades with Ford and General Motors, leaving the struggling car manufacturers exposed to further risk.
CDS: Spreads remain stable on European and US banks
Credit default swap 5-year mid-levels for structured products issuers (Tuesday March 17)
CDS: Spreads narrow on financials, Morgan Stanley tightens 10%
Credit default swap 5-year mid-levels for structured products issuers (Monday March 16)
CME’s CDS platform approved
The Chicago Mercantile Exchange Group (CME) received the green light from the Securities and Exchange Commission (SEC) on March 13 to clear credit default swaps (CDSs), but now faces the hard task of getting customers to sign up to its platform.
CDS: Spreads on US financials narrow
Credit default swap 5-year mid-levels for structured products issuers (Friday March 13)
CME Group one step closer to CDS clearing
US exchange operator Chicago Mercantile Exchange (CME) Group has come one step closer to entering the credit derivatives market by signing a deal to clear credit default swaps (CDSs) on financial information services company Markit's CDX and iTraxx…
CDS: UK bank spreads widen
Credit default swap 5-year mid-levels for structured products issuers (Thursday March 12)
Isda launches hardwiring supplement for CDS settlement auctions
In its final move to incorporate the settlement of credit default swaps (CDS) with cash auctions into standard contracts, the International Swaps and Derivatives Association published its auction settlement supplement today.
Dealer predicts 85% of CDSs could be centrally cleared by end of 2009
The head of credit derivatives at a major dealer has told Risk he expects to see 35-40% of the credit default swap (CDS) market centrally cleared by the end of June, and as much as 85% by year's end barring any unforeseen mishaps.
CDS: Spreads continue to narrow on US banks, BofA tightens 13%
Credit default swap 5-year mid-levels for structured products issuers (Wednesday March 11)
CDS: Spreads tighten on US banks
Credit default swap 5-year mid-levels for structured products issuers (Tuesday March 10)
Senior Supervisors Group: CDS auction process working
A report released on March 9 by the Senior Supervisors Group (SSG) suggests the auction process for settling credit default swaps (CDSs) - tested several times over the past six months - is working.
CDS: No respite for BofA and Citi
Credit default swap 5-year mid-levels for structured products issuers (Monday March 9)
Ice launches US CDS clearing service
Atlanta-based derivatives exchange IntercontinentalExchange (Ice) launched its credit default swap (CDS) central clearing platform on March 9 after receiving the green light from the Securities and Exchange Commission (SEC) on March 6.
Low recovery rates set for Aleris International LCDS
Final settlement values for credit derivatives trades referencing Ohio-based aluminum products manufacturer Aleris International were determined during an auction held today by data vendor Markit and broker Creditex.
CDS: Citi's spread continues to climb toward 600bp
Credit default swap 5-year mid-levels for structured products issuers (Friday March 6)
CDS: Spreads widen on European and US banks, Citi trading at 565bp
Credit default swap 5-year mid-levels for structured products issuers (Thursday March 5)
Isda to publish auction settlement supplement
Daily news headlines
CDS: Bank of America leads widening on US banks
Credit default swap 5-year mid-levels for structured products issuers (Wednesday March 4)
Fed approval leaves Ice/TCC on brink of CDS clearing
Intercontinental Exchange's (Ice) application to become a member of the Federal Reserve System has been approved by the US central bank, overcoming one of the final obstacles preventing the firm from launching its central clearing platform for credit…