Risk magazine
Committee hears of rating agency inertia as crisis built
Agencies were too slow to update ratings models during the crisis, Senators were told today.
Rating agencies under fire again in Congress
Research due to be presented today to a Senate subcommittee shows major rating agencies gave optimistic credit ratings to keep profits high.
Cross-border lending extends slump: BIS
Bank for International Settlements says international lending fell by $385 billion in last three months of 2009, figures reveal fifth consecutive quarterly drop
Doubts over IMF tax proposals
International Monetary Fund proposals are the latest in a line of suggested levies on banks.
Isda AGM: Rate of decrease in CDS notional falls
The rate of decrease in notional volumes of credit default swaps (CDSs) has slowed, according to the International Swaps and Derivatives Association’s year-end 2009 market survey, which was unveiled at its annual general meeting in San Francisco on April…
Risk.net readers back California's CDS reporting demand
A recent online poll found a small majority backing California's demand for banks to reveal their involvement in the state's credit default swaps.
Dealers warn of risks of forced allocation in OTC clearing
Clearing houses could cause large losses for their members if they don't put limits on portfolio allocation, dealers think.
Swiss tighten liquidity rules for biggest banks
Swiss Financial Market Supervisory Authority and the Swiss National Bank clamp down on UBS and Credit Suisse through stricter liquidity regime
Breaking up banks could increase instability, research finds
Banking systems with small numbers of large banks are more stable and less likely to undergo crises, according to World Bank and NBER economists.
Goldman charged over CDO role
The US Securities and Exchange Commission filed a lawsuit against Goldman Sachs in April, alleging the firm misled clients. Some observers suggest the action may not be successful, but criticise Goldman’s behaviour. By Mark Pengelly and Duncan Wood
Goldman criticised over CDO after SEC lawsuit
Goldman Sachs has been sharply criticised for arranging a synthetic collateralised debt obligation (CDO) at the centre of a lawsuit filed by the US Securities and Exchange Commission (SEC) last week.
Whistle-blower calls for ban on local government derivatives use
Italian academic Gustavo Piga, who first identified the deceptive use of derivatives by one European state in 2001, believes local governments should be banned from using derivatives products.
Risk Inflation Forum 2010
A roundtable on inflation and inflation derivatives hosted by Risk magazine editor Nick Sawyer.
Buy-side CDS clearing 'not really happening'
Despite regulatory calls for buy-side clearing of credit derivatives, few client trades are being cleared.
Lehman reorganisation plan not “equitable” – LBIE
Plans by Lehman Brothers Holding Inc (LBHI) to disregard guarantee claims from its affiliates are not fair, according to one of the joint administrators of Lehman Brothers International (Europe) (LBIE).
LBIE paid out $17.2 billion to date to creditors
Lehman Brothers International (Europe) (LBIE) has collected more than $48.6 billion of assets and cash up until March 14, and $17.2 billion has been distributed to creditors, according to a progress report by the administrators of LBIE, published on…
EU derivatives experts suggest threshold system for corporates
Legislators at the European Commission will today move a step closer to determining whether non-financial users of over-the-counter derivatives should be forced to clear trades through central counterparties (CCPs) – a possibility corporates have…
LCH.Clearnet CEO calls rival 'reckless' as Fannie, Freddie clearing battle heats up
Politicians love the idea of central clearing, but with competition for this new business increasing, so are concerns some venues might not be robust enough.