Risk magazine
LCH.Clearnet considers revaluing $212 trillion swap portfolio
LCH.Clearnet could start using overnight indexed swap (OIS) rate curves rather than Libor to value its roughly $212 trillion swap portfolio, in response to changing market practice.
Lehman takes aim at guarantee claims
Lehman Brothers Holding Inc (LBHI) confirmed yesterday in its bankruptcy disclosure statement that there are doubts over the validity of third-party and affiliate guarantee claims that cite a pledge by the holding company to take on its subsidiaries'…
Senate Ag committee to take OTC derivatives transparency to new levels
New draft legislation on financial regulatory reform will require real-time reporting of derivatives trades to both regulators and the public, according to Blanche Lincoln, chairman of the Senate Committee on Agriculture, Nutrition and Forestry, who is…
Iceland’s “grossly negligent” central bankers caused collapse: report
Much awaited parliamentary report singles out seven individuals including Icelandic central bank’s governing board trio as responsible for 2008 collapse of banking sector
Bonuses fail to match expectations
Bonus speculation is now over as the banks pay out, with the exception of Royal Bank of Scotland, which will not pay bonuses until June.
Greece’s $40 billion bailout an improvement, but issues remain
Markets soothed as firm details of Greek rescue plan are announced, eurozone will provide €30 billion at discounted 5% rate for year forward, analysts less convinced
Deutsche financing scheme for Riga left Latvia with $1 billion debt and reporting headache
A financing transaction arranged for Riga by Deutsche Bank shows how local authorities can lay their hands on spending money without reporting it as debt.
Standardised coupons introduced on loan CDS
New fixed 100bp, 250bp and 500bp coupons aim to promote liquidity and fungibility in LCDS contracts
Repo taskforce targets operational issues
The New York Federal Reserve is to reveal its aims for reducing risk in the tri-party repo market this month.
Alternative Fund Administration Survey 2010
Changing fortunes: Competition for alternative assets is intensifying as the 2010 survey results show some ranking changes. Sophia Morrell reports on the shifting environment reflected in this year's alternative fund administration survey.
Doubts raised over viability of Lloyds CoCo bonds trigger
Bankers and regulators are looking at possible standards for contingent capital, but are struggling with the definition of an appropriate trigger.
Binge then bust
Politicians have recently expressed alarm at a cross-currency swap conducted between Greece and Goldman Sachs in 2001, which allowed the sovereign to reduce the debt it reported in its public accounts. But other examples now coming to light show the…
People moves
A round-up of the latest people moves in derivatives and risk management in March
What does VAR mean in 2010?
Value-at-risk figures fell across the industry in 2009, while exceptions dropped significantly from levels in 2007 and 2008. But discussion over what VAR figures actually show and how the numbers are interpreted by senior management continues. By…